AutoNation - AN STOCK NEWS

AutoNation (NYSE: AN) announces that 129 of its dealerships have been certified in the J.D. Power 2022 Dealer of Excellence Program. This prestigious recognition highlights AutoNation's commitment to exceptional customer service, setting these certified stores apart in the automotive retail sector. The program assesses dealerships based on the J.D. Power U.S. Sales Satisfaction Index, ensuring that only top performers achieve certification. AutoNation aims to provide a transparent and customer-centric purchasing experience, validating its position as a leader in the automotive industry.

In Q1 2022, AutoNation (NYSE: AN) reported a GAAP EPS of $5.78, a 103% increase from Q1 2021's $2.85. Revenue rose 14% to $6.8 billion, driven by a 47% increase in used vehicle revenue, countering a 6% decline in new vehicle revenue. Operating income surged 54% year-over-year, reaching $519 million, and After-Sales gross profit increased by 19% to $461 million. The company also repurchased 3.5 million shares for $381 million. AutoNation plans to expand its used vehicle business, opening 12 new stores within the next year.

AutoNation (NYSE: AN), the largest automotive retailer in America, will announce its Q1 2022 financial results on April 21, 2022, at 10:00 a.m. ET. During this conference call, management will discuss these results along with other company information. Investors can access the call via phone or the AutoNation investor relations website. A playback will be available post-call until May 12, 2022. This meeting will provide insights into AutoNation’s financial performance as well as its strategic direction.

During National Car Care Month, AutoNation (NYSE:AN) emphasizes the importance of vehicle maintenance as Americans hold onto older cars due to ongoing chip shortages. The company offers drivers essential car care tips to enhance safety and extend vehicle life. Key recommendations include regular tire checks, oil and fluid level monitoring, and routine vehicle inspections. AutoNation also encourages drivers to prepare emergency kits for roadside emergencies, highlighting tools and supplies essential for safety.

On March 3, 2022, AutoNation (NYSE: AN) announced an expansion of its Executive Team, appointing Dave Koehler as Chief Operating Officer for Non-Franchised Business and Steve Kwak as Chief Operating Officer for Franchised Business. Both executives have over ten years with AutoNation and nearly sixty years of combined automotive experience. This restructuring aims to enhance leadership focus and support the company's growth, especially in AutoNation USA and its auction and collision businesses. Former COO Jim Bender will depart on March 4, 2022.

AutoNation, Inc. (NYSE: AN) has priced a $700 million aggregate principal amount of senior unsecured notes due 2032 at a rate of 3.850%. The offering, expected to close on February 28, 2022, is aimed at supporting general corporate purposes, including debt reduction and share repurchases. The notes will be issued at 99.835% of the principal, yielding 3.870% to maturity. Joint book-running managers include BofA Securities and J.P. Morgan. The move reflects AutoNation's strategy to enhance financial flexibility and support growth initiatives.

AutoNation (NYSE: AN) announced the appointment of Gianluca Camplone as Chief Operating Officer of the Precision Parts Business and Executive Vice President, effective March 1, 2022. Mr. Camplone brings over 25 years of experience, previously working at McKinsey & Company, where he led impactful digital and merger initiatives. His expertise aims to enhance AutoNation's business strategy as the company focuses on growth and expansion. CEO Mike Manley expressed optimism about Camplone's addition to the leadership team during this transformative period for the automotive industry.

AutoNation, the largest automotive retailer in the U.S., reported its seventh consecutive record quarterly EPS on February 17, 2022. Q4 2021 revenue reached $6.6 billion, a 14% increase year-over-year, primarily due to a 55% surge in used vehicle revenue, despite a 7% decline in new vehicle revenue. The record GAAP EPS of $5.87 reflects a 239% increase compared to Q4 2020. Full year 2021 revenue climbed to $25.8 billion, a 27% rise. AutoNation plans to expand its used vehicle market share significantly through new store openings and digital enhancements.

AutoNation, a leading automotive retailer, will release its fourth quarter and full year 2021 financial results on February 17, 2022. Following the announcement, management will hold a conference call at 10:00 a.m. Eastern Time to discuss the outcomes. Investors can access the call via telephone or through the company's investor relations website. AutoNation currently operates over 325 locations and has sold over 13 million vehicles since its inception. The company is also recognized for its DRIVE PINK initiative, raising over $30 million for cancer research.