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About AutoNation, Inc.
AutoNation, Inc. (NYSE: AN) is a Fortune 200 company and one of the largest automotive retailers in the United States. With a network of over 250 dealerships across 21 states, AutoNation offers a comprehensive range of services, including sales of new and used vehicles, customer financing, parts distribution, and expert maintenance and repair services. The company represents 34 manufacturer brands and has a significant presence in Sunbelt metropolitan areas, positioning itself as a leader in the automotive retail sector.
Business Model and Revenue Streams
AutoNation operates a vertically integrated business model that captures value across the entire vehicle lifecycle. Its revenue streams are diversified across new vehicle sales, used vehicle retailing through its AutoNation USA stores, after-sales services, and customer financing via AutoNation Finance. New vehicle sales contribute nearly half of the company's revenue, while after-sales services, including maintenance and repair, represent a growing segment driven by customer retention initiatives. The company also generates revenue through its captive lending operations and parts distribution, further strengthening its financial ecosystem.
Competitive Positioning
AutoNation stands out in the competitive automotive retail landscape due to its scale, brand recognition, and customer-first approach. It competes with other large dealership groups and emerging online retailers by leveraging its extensive physical footprint and digital capabilities. The company's focus on innovation is evident in its investments in digital transformation and mobility solutions, enabling it to meet evolving consumer preferences. Its strategic partnerships, such as the U.S. Army's PaYS program, underscore its commitment to workforce development and community engagement.
Operational Excellence and Market Significance
AutoNation's operational strategy is built on delivering a seamless and personalized customer experience. Its ability to scale operations while maintaining high service standards has made it a trusted name in automotive retail. The company's focus on after-sales services and customer financial services ensures recurring revenue streams and enhances customer loyalty. By consistently adapting to market trends and technological advancements, AutoNation has maintained its position as a key player in the U.S. automotive industry.
Commitment to Social Responsibility
Beyond its business operations, AutoNation is deeply committed to making a positive societal impact. Through its DRV PNK initiative, the company has raised over $40 million for cancer-related causes, demonstrating its dedication to philanthropy and community support. AutoNation also prioritizes diversity and inclusion, employing over 1,000 veterans and fostering a workplace culture that values innovation and collaboration.
Future Outlook
AutoNation's strategic focus on digital transformation, used vehicle retailing, and after-sales services positions it well to navigate the evolving automotive landscape. Its investments in technology and partnerships highlight its adaptability and commitment to long-term growth. By aligning its operations with consumer needs and market dynamics, AutoNation continues to strengthen its competitive edge and deliver value to its stakeholders.
AutoNation (NYSE: AN) reported Q4 2024 results with revenue of $7.2 billion, up 8% year-over-year on a same-store basis. The company achieved EPS of $4.64 and adjusted EPS of $4.97.
Key highlights include: 12% growth in new vehicle same-store unit sales, 14% increase in used vehicle gross profit, and 5% growth in After-Sales gross profit. The company's finance arm, AN Finance, originated $1.1 billion in loans during 2024.
Notable financial metrics: Operating income decreased 3% to $339.5 million, while net income declined 14% to $186.1 million. The company maintained strong balance sheet discipline with leverage reduced to 2.4X in Q4. AutoNation executed $460 million in share repurchases during 2024, representing a 7% share reduction.
AutoNation (NYSE:AN) has been named to Fortune's 2025 World's Most Admired Companies list, marking its eighth consecutive year on the list and fifth consecutive year as the highest-ranked automotive retailer. The selection process, conducted in partnership with Korn Ferry, evaluated 1,500 companies across 52 industries globally, with 3,380 respondents rating companies on nine criteria including management quality and social responsibility.
CEO Mike Manley attributes this recognition to the company's commitment to delivering exceptional experiences and making a lasting impact. A significant part of this impact comes through their DRV PNK initiative, which has raised over $40 million for cancer research and treatment through various community activities.
As one of the largest automotive retailers in the United States, AutoNation provides comprehensive automotive services, including new and used vehicles sales, financing, maintenance, and repair services through its nationwide network of dealerships.
AutoNation (NYSE: AN) has announced it will release its Q4 2024 financial results on Tuesday, February 11, 2025, before market opens. The company will host a conference call and audio webcast at 9:00 a.m. Eastern Time to discuss the results.
Investors can access the conference call via telephone at 833-470-1428 (Conference ID: 705922) or through AutoNation's investor relations website. The webcast recording will be available until March 04, 2025, through the website or by calling 866-813-9403.
AutoNation is one of the largest automotive retailers in the United States, operating a nationwide network of dealerships. The company offers new and used vehicles, financing, parts, and maintenance services.
AutoNation (NYSE: AN) announces its Mobile Services initiative ahead of Thanksgiving, offering over 200 vehicle repair and maintenance services directly to customers' locations. With gas prices around $3 per gallon and an expected 72 million travelers on the road, the company aims to provide convenient pre-travel maintenance services. The mobile service is available in 17 major U.S. cities, including Atlanta, Chicago, Dallas, and Los Angeles. Customers can schedule services online through autonationmobileservice.com, allowing them to manage vehicle maintenance while preparing for holiday travel.
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.
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