AutoNation Earnings Call, First Quarter 2007
14th July 2008 00:00 AM |
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| It was a challenging economic environ for new vehicle sales, driven in by continued softening in the housing market and higher interest rates, |
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| Smurf: The automotive retailer reported earnings of $77.6 million or 37 cents per share, a decrease of 11% from $87.2 million or 33 cents per share in the prior year as EPS were positively affected by the accretive impact of share repurchases, including the $1.15 billion April 2006 share buyback. Results were also affected by certain tax adjustments, substantially offset by a decline in new vehicle sales especially in California and Florida. |
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AutoNation First Quarter Earnings Call
7th May 2008 00:00 AM |
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| Profit was $50.7 million as the weak U.S. housing market continued to hurt demand in the company's critical California and Florida markets. |
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| Earnings from continuing operations slipped to 31 cents a share from 39 cents a share. Results were hurt by lower gross profit for each vehicle sold, partially offset by continued share repurchases. New vehicle sales in California, Florida, Nevada and Arizona declined 11%. The company expects to continue to see a challenging automotive retail market as long as the current economic difficulties persist. |
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AutoNation Fourth Quarter Earnings Call
15th February 2008 00:00 AM |
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| The earnings were $51.7 million or 28 cents per share as against $75.2 million or 36 cents per share in the prior year quarter. |
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| The leading automotive retailer reported revenue of $4.21 billion, down 4% from last year. The Q4 results reflected a decline in new vehicle retail sales, especially in California and Florida, as the two states account for half of the new vehicle sales of AutoNation. During the quarter, the firm completed the acquisition of two stores, representing a combined annual run rate of $60 million. The firm believes that, in 2008, industry sales of new vehicles would be around mid-15 million units. |
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AutoNation Third Quarter Earnings Call
8th January 2008 00:00 AM |
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| The net income from continuing operations was $77 million or 39 cents a share versus $85 million or 40 cents per share in last year. |
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| Due to lower new vehicle sales, the revenue of the automotive retailer dropped from $4.9 billion in the previous year to $4.6 billion. The decline in net income reflected a drop in new vehicle retail sales especially in California and Florida, partially offset by tax adjustments. AutoNation has entered into an agreement to purchase Don Mackey BMW in Tucson, Arizona. After the completion of the transaction in January 2008, the store will be renamed to BMW, Tucson. |
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AutoNation Second Quarter Earnings Call
31st July 2007 00:00 AM |
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| Profit rose to $77.3 million as a tax adjustment partly offset weaker demand for new vehicles. |
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| Revenue declined 7% to $4.6 billion, failing to meet analysts’ expectations of $4.82 billion. AutoNation''s decline for new vehicle unit sales for California and Florida was 16%, with pickup truck sales down as construction levels decrease. The company had 63,000 new units in inventory, down 16% compared to last year as it cut down its domestic vehicles in inventory. The company expects ongoing rate to be in the mid 39% range, excluding the impact of any potential tax adjustments in the future. |
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