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AutoNation, Inc. (NYSE: AN) is a leading automotive retailer in the United States, renowned for its innovative products, exceptional services, and comprehensive solutions that empower customers to make the best decisions for their ever-changing needs. With a vast network of over 250 dealerships and 53 collision centers, AutoNation represents 34 manufacturer brands across 21 states. The company also operates 23 AutoNation USA used-vehicle stores, a captive lender, four auction sites, and three parts distributors.
Established in the 1990s by Wayne Huizenga, AutoNation has grown to become the second-largest automotive dealer in the U.S., with 2023 revenue of approximately $27 billion. The company sells new and used vehicles, offers parts and repair services, and provides auto financing. New-vehicle sales account for nearly half of the company's revenue, while the remaining comes from used vehicle sales, parts, and services.
AutoNation is committed to delivering a peerless customer experience, as evidenced by its recent achievements and initiatives. The company has raised over $35 million for cancer research, treatment, and awareness through its signature DRV PNK campaign. Additionally, AutoNation continues to innovate in personalized transportation services, recently launching AutoNationParts.com for online parts sales and AutoNation Mobility for short-term vehicle micro leases.
Financially, AutoNation has shown resilience and adaptability, with a strong balance sheet and strategic capital allocation. The company reported a revenue of $6.9 billion for Q3 2023, marking a 3% increase from the prior year. Despite challenges such as fluctuating new and used vehicle margins and inventory availability, AutoNation's focus on After-Sales growth and customer financial services has driven record gross profits.
Looking forward, AutoNation remains focused on maximizing shareholder returns, supported by its robust operating cash flow and ongoing investments in technology and new business initiatives. The company's strategic acquisitions, partnerships, and investments are set to enhance its market position and drive long-term growth.
AutoNation (NYSE: AN) launched its 8th Annual DRV PNK Across America Campaign, highlighting its commitment to fighting cancer. The company has donated and raised over $40M for cancer research and treatment. The campaign includes the Totes for Hope program, where 25,000 Associates created tote bags for cancer patients, partnerships with sports teams, and various fundraising events nationwide. Through December, customers can make donations at AutoNation's 300 locations to support the Breast Cancer Research Foundation, which has received nearly $2 million in customer donations over nine years.
AutoNation (NYSE: AN) has donated $25,000 to the Onco-Ballet Foundation, a nonprofit organization that helps cancer patients and survivors through ballet therapy. The donation was announced on 'The Drew Barrymore Show' and is part of AutoNation's DRV PNK initiative, which has raised over $40 million for cancer research, prevention, and care. The Onco-Ballet Foundation, founded in 2023 by Anna Wassman-Cox, a former professional ballerina and two-time breast cancer survivor, offers free and low-cost ballet classes to cancer patients in Irvine, California.
AutoNation (NYSE: AN) announces a special Veterans Day promotion offering a 20% discount on all services at AutoNation-branded locations and Mobile Service from November 11-16, 2024. The discount applies to active military personnel, veterans, and their spouses, with a maximum discount of $300 in-store and $150 for mobile services. The company also highlights its partnership with the U.S. Army's PaYs program, connecting transitioning soldiers with civilian career opportunities at AutoNation. The service is available through their nationwide network of dealerships and mobile service operations in 17 major U.S. cities.
AutoNation reported Q3 2024 results with revenue of $6.6 billion, down 4% year-over-year, and EPS of $4.61 ($4.02 adjusted). The quarter saw 2% growth in same-store new vehicle sales and record After-Sales gross profit of $558 million. Results were impacted by CDK outage effects, reducing EPS by $0.21. Key metrics showed mixed performance: new vehicle unit sales increased 1% while used vehicle sales declined 8%. The company maintained strong liquidity of $1.6 billion and continued share repurchases, buying back 36,000 shares for $6 million during Q3.
AutoNation, Inc. (NYSE: AN) has announced its upcoming third quarter 2024 earnings release and conference call. The company will disclose its financial results for the quarter ended September 30, 2024, on Friday, October 25, 2024, before market opening. A conference call and audio webcast are scheduled for 9:00 a.m. Eastern Time on the same day to discuss the results.
Investors can access the conference call by dialing 833-470-1428 (Conference ID: 356177) or via AutoNation's investor relations website. The webcast will be available on the company's website under 'Events & Presentations' until November 15, 2024. AutoNation, one of the largest U.S. automotive retailers, offers a wide range of vehicles, services, and solutions through its nationwide network of dealerships.
Kerrigan Advisors, a leading sell-side advisory firm for auto dealers, has announced the appointment of Chris Gempton as Senior Vice President, Sell-Side Advisory. Gempton brings nearly two decades of automotive experience, including 13 years at AutoNation (NYSE: AN), where he most recently served as Vice President of Corporate Development. In this role, he oversaw nearly $3 billion in transactions across 130+ dealerships representing more than $5 billion in revenue.
Gempton will open Kerrigan Advisors' first Florida office in Midtown Miami to serve clients in the Southeastern U.S., an active market for dealership buy/sell transactions. This expansion further cements Kerrigan Advisors' status as the leading sell-side advisor in the industry, bringing the team's collective transaction experience to nearly $12 billion.
AutoNation (NYSE: AN) reported Q2 2024 results with revenue of $6.5 billion, EPS of $3.20, and adjusted EPS of $3.99. The quarter was significantly impacted by a CDK Global cyber incident, reducing EPS by an estimated $1.55. Despite challenges, the company saw improved After-Sales gross profit margin and positive trends in vehicle unit profitability. AutoNation continued its focus on capital allocation, with year-to-date share repurchases of $350 million. The company reported strong free cash flow conversion and maintained a solid liquidity position of $1.6 billion. While revenue and gross profit decreased year-over-year, AutoNation's CEO, Mike Manley, expressed confidence in the health of their markets and anticipates a strong second half of the year.
AutoNation (NYSE: AN), a leading U.S. automotive retailer, has announced its second quarter 2024 earnings release scheduled for Wednesday, July 31, 2024, before market open. The company will host a conference call and audio webcast at 9:00 a.m. Eastern Time on the same day to discuss the results. Investors can access the call via phone at 833-470-1428 (Conference ID: 522370) or through AutoNation's investor relations website. The webcast will be available for replay until August 21, 2024. AutoNation operates a nationwide network of dealerships, offering new and used vehicles, financing, parts, and maintenance services. The company has also raised over $40 million for cancer-related causes through its DRV PNK initiative.
AutoNation announced the appointment of Claire Bennett to its Board of Directors, effective July 8, 2024. Bennett brings extensive experience in customer service, general management, and consumer services, having held significant roles at Intercontinental Hotels Group and American Express. AutoNation aims to leverage her expertise to navigate industry, customer, and technological changes. The company, known for its personalized transportation services, seeks to benefit from Bennett's background as it continues to innovate and provide exceptional services.
AutoNation (NYSE:AN) has partnered with the U.S. Army through the PaYS program to provide job opportunities for soldiers in the automotive industry. The PaYS program guarantees soldiers five job interviews with companies like AutoNation after their service. This initiative aims to leverage the skills and experiences of veterans for various roles within AutoNation, which currently employs over 1,000 veterans. The partnership was announced at a signing ceremony attended by representatives from both organizations, emphasizing the company's commitment to diversity and inclusion in its workforce.
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