AutoNation Reaches All-Time Quarterly Record

PR Newswire

Auto­Na­tion, Inc., America’s largest auto­mo­tive retail­er, reports record results for the sec­ond quar­ter of 2013 with increas­es in all busi­ness seg­ments.

Get the details on a record-break­ing sec­ond quar­ter for Auto­Na­tion.

2013 sec­ond quar­ter rev­enue totaled $4.4 bil­lion, com­pared to $3.9 bil­lion in the year-ago peri­od, an increase of 13%, dri­ven by stronger per­for­mance in all of our busi­ness sec­tors – new vehi­cles, used vehi­cles, parts and ser­vice, and finance and insur­ance. AutoNation’s retail new vehi­cle unit sales increased 11% over­all and 7% on a same store basis.

Mike Jack­son, Chair­man and Chief Exec­u­tive Offi­cer, said, “We deliv­ered dou­ble-dig­it growth in oper­at­ing income in the sec­ond quar­ter, dri­ven by year-over-year gross prof­it growth in all of our busi­ness sec­tors.”

Com­ment­ing on the auto­mo­tive retail envi­ron­ment, Mr. Jack­son added, “The auto­mo­tive indus­try con­tin­ues to be a bright spot in the U.S. econ­o­my. We are par­tic­u­lar­ly excit­ed about our cus­tomer care busi­ness, where increas­ing units in oper­a­tion should con­tin­ue to sup­port sol­id growth in the busi­ness for the next sev­er­al years.”

Seg­ment results for the sec­ond quar­ter of 2013 were as fol­lows:

  • Domes­tic - Domes­tic seg­ment income was $66 mil­lion com­pared to year-ago seg­ment income of $54 mil­lion.
  • Import - Import seg­ment income was $73 mil­lion com­pared to year-ago seg­ment income of $67 mil­lion.
  • Pre­mi­um Lux­u­ry - Pre­mi­um Lux­u­ry seg­ment income was $76 mil­lion com­pared to year-ago seg­ment income of $68 mil­lion.

For the six-month peri­od end­ed June 30, 2013, the Com­pa­ny report­ed net income from con­tin­u­ing oper­a­tions of $173 mil­lion, or $1.41 per share, com­pared to adjust­ed net income from con­tin­u­ing oper­a­tions of $155 mil­lion, or $1.21 per share, for the same peri­od in the pri­or year, an improve­ment of 17% on a per-share basis.

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