AutoNation: 2Q Earnings Snapshot
FORT LAUDERDALE, Fla. (AP) _ AutoNation Inc. (AN) on Monday reported second-quarter earnings of $100.8 million.
On a per-share basis, the Fort Lauderdale, Florida-based company said it had net income of $1.12. Earnings, adjusted for asset impairment costs and to account for discontinued operations, came to $1.20 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The auto retailer posted revenue of $5.34 billion in the period, also exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $5.33 billion.
AutoNation shares have increased 18% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 19%. In the final minutes of trading on Monday, shares hit $41.95, a fall of 14% in the last 12 months.