These are top 10 stocks traded on the Robinhood UK platform in July
FORT LAUDERDALE - AutoNation (NYSE:AN), Inc on Tuesday reported fourth quarter 2024 results that surpassed analyst expectations, driving shares up 3.77% in pre-market trading in response to the earnings beat and robust performance across key segments.
The automotive retailer posted adjusted earnings per share of $4.97, significantly exceeding the analyst consensus of $4.24. Revenue for the quarter reached $7.21 billion, surpassing estimates of $6.67 billion and marking an 8% increase YoY on a same-store basis.
New vehicle same-store unit sales grew 12% in Q4, while used vehicle same-store gross profit increased by 14%. The company’s After-Sales and Customer Financial Services segments also showed strength, with same-store gross profit growth of 5% and 6%, respectively.
"Our fourth quarter performance reflects the strength of AutoNation’s business model and operations," said Mike Manley, AutoNation’s Chief Executive Officer. "We achieved double-digit new vehicle unit growth, gaining share in the markets we serve, while also meaningfully increasing used vehicle, Customer Financial Services, and After-Sales gross profit."
The company continued its share repurchase program, buying back 0.6 million shares for $104 million in Q4. For the full year 2024, AutoNation repurchased 2.9 million shares, representing a 7% reduction in shares outstanding, for a total of $460 million.
AutoNation’s finance arm originated $1.1 billion in loans during 2024, expanding its business while enhancing its loan portfolio. The company ended the quarter with $1.3 billion in liquidity and a covenant leverage ratio of 2.4X, demonstrating a strong balance sheet position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.