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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) announced that it will release its Q3 2021 financial results on October 21, 2021. Management will discuss these results during a conference call at 10:00 a.m. ET. The call can be accessed via telephone or through AutoNation's investor relations website. As of September 30, 2021, AutoNation operates over 300 locations and has sold over 13 million vehicles, becoming the first automotive retailer to achieve this milestone.
AutoNation (NYSE: AN) continues its commitment to cancer awareness with its Drive Pink initiative, which has raised over $28 million since its inception. Marking the 6th Annual DRVPNK Across America Day, AutoNation will host events on October 12 and October 20, 2021, at DRV PNK Stadium, partnering with Inter Miami CF to support cancer patients. Participants will fill comfort bags and honor cancer survivors during a match, with the first 10,000 fans receiving free rally towels. AutoNation operates over 300 locations nationwide, emphasizing community support through its charitable initiatives.
AutoNation (NYSE: AN) announced the appointment of Mike Manley as its new Chief Executive Officer and Board member, effective November 1, 2021. He succeeds Mike Jackson, who is retiring after 22 years as CEO. Manley, previously CEO of Fiat Chrysler Automobiles, brings extensive automotive experience to the role. Under Jackson's leadership, AutoNation achieved significant milestones, including selling over 13 million vehicles and raising over $28 million for cancer research. The company is recognized for its exceptional performance and commitment to customer service.
On Sept. 15, 2021, AutoNation (NYSE: AN) announced the opening of its second pre-owned vehicle store, AutoNation USA Denver 104, as part of a plan to establish five such stores this year. By 2026, AutoNation aims to operate over 130 stores nationwide, focusing on a customer-centric approach to capture more market share in the used vehicle sector. The new store emphasizes low, haggle-free pricing and facilitates vehicle sales through its 'We'll Buy Your Car' program. AutoNation continues its philanthropic efforts through its Drive Pink initiative, which has raised over $28 million for cancer research.
AutoNation, Inc. (NYSE: AN) announced the pricing of $400 million senior unsecured notes due 2028 at 1.950% and $450 million senior unsecured notes due 2031 at 2.400%. The notes are expected to close on July 29, 2021. Proceeds will be utilized for general corporate purposes, including debt reduction and share repurchases. BofA Securities, J.P. Morgan, and others are managing the debt offering. AutoNation operates over 300 locations and has sold over 13 million vehicles.
AutoNation (NYSE: AN) reported strong financial results for Q2 2021, with net income from continuing operations reaching $385 million, or $4.83 per share, a notable increase from $280 million, or $3.18 per share, in Q2 2020. Same-store revenues soared to an all-time record of $7.0 billion, up 54% year-over-year. Vehicle sales also improved, with new vehicle sales increasing by 42% and used vehicle sales by 37%. The company plans to expand its AutoNation USA stores, targeting over 130 locations by 2026, and has authorized an additional $1 billion for stock repurchases.
AutoNation (NYSE: AN), the largest automotive retailer in the U.S., will release its Q2 2021 financial results on July 19, 2021. Management will discuss these results during a conference call at 10:00 a.m. ET. Investors can access the call via telephone or through AutoNation's investor relations website. The company operates over 300 locations and has sold over 13 million vehicles. AutoNation has committed over $27 million to cancer-related initiatives through its DRIVE PINK program since 2013.
AutoNation (NYSE: AN) announced the opening of its first AutoNation USA store in San Antonio, Texas, as part of its strategy to establish over 130 stores by 2026. The store aims to capture a larger share of the used vehicle market using AutoNation's customer-centric sales model. AutoNation continues to support local communities, highlighted by its DRIVE PINK initiative, which has raised nearly $27 million for cancer research. The San Antonio store features a 1Price Pre-Owned model, offering competitive pricing and a hassle-free buying experience.
AutoNation (NYSE: AN) reported a strong first quarter 2021 with a net income of $240 million, or $2.85 per share, a significant recovery from a net loss of $232 million in Q1 2020. The results included a $6 million gain from the sale of its remaining Vroom investment. Adjusted EPS surged 207% to a record $2.79. Same-store revenue rose 27% to $5.9 billion, with gross profit also increasing by 27%. AutoNation announced plans for new store openings and an acquisition of 11 stores, enhancing its market presence and targeting annual sales of 1 million vehicles by 2026.
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