AutoNation Stock Price, News & Analysis

AutoNation (NYSE: AN) reported a record third quarter in 2021, achieving net income from continuing operations of $362 million, or $5.12 per share, up from $183 million, or $2.05 per share, in the prior year. Same-store revenue rose 18% to $6.4 billion, driven by strong demand for used vehicles, with a remarkable 53% year-over-year increase in same-store used vehicle revenue. AutoNation's gross profit also increased by 29% to $1.3 billion. The company announced plans for further expansion with new store openings and acquisitions projected to represent approximately $800 million in annual revenue.

On October 18, 2021, AutoNation (NYSE: AN) announced the opening of its second AutoNation USA store in Denver, furthering its expansion strategy. This store is part of a larger plan with five new stores opening in 2021 and an expected twelve more in 2022. By the end of 2026, AutoNation aims to operate over 130 AutoNation USA stores nationwide. The company is focused on enhancing customer experience through its 1Price Pre-Owned model and the 'We'll Buy Your Car' program, while also supporting cancer research through its Drive Pink initiative, which has raised over $28 million since 2013.

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.