AutoNation Inc Reports Record First Quarter Sales

PR Newswire - April 18, 2013

Auto­Na­tion Inc report­ed 2013 first quar­ter all-time record rev­enue and net income from con­tin­u­ing oper­a­tions with dou­ble-dig­it growth.

Get the facts and fig­ures on AutoNation’s first quar­ter.

Auto­Na­tion, Inc., America’s largest auto­mo­tive retail­er, today report­ed 2013 first quar­ter net income from con­tin­u­ing oper­a­tions of $83 mil­lion, or $0.68 per share, com­pared to net income from con­tin­u­ing oper­a­tions of $74 mil­lion, or $0.56 per share, for the same peri­od in the pri­or year, a 21% improve­ment on a per-share basis.

  • EPS from con­tin­u­ing oper­a­tions an all-time record (1) $0.68, up 21% com­pared to the year-ago peri­od
  • Total rev­enue of $4.1 bil­lion, up 12% com­pared to the year-ago peri­od, increas­ing across all major busi­ness sec­tors; oper­at­ing income of $169 mil­lion, an increase of 14% com­pared to the year-ago peri­od
  • Auto­Na­tion to acquire Hon­da and Hyundai stores in Phoenix, Ari­zona and a Toy­ota store in Dal­las, Texas with annu­al rev­enues of approx­i­mate­ly $250 mil­lion

2013 first quar­ter rev­enue totaled $4.1 bil­lion, com­pared to $3.7 bil­lion in the year-ago peri­od, an increase of 12%, dri­ven by strong 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 9% over­all and 6% on a same store basis.

Mike Jack­son, Chair­man and Chief Exec­u­tive Offi­cer, said, “Auto­Na­tion deliv­ered sol­id dou­ble-dig­it growth in oper­at­ing income, which drove a 21% increase in EPS from con­tin­u­ing oper­a­tions in the first quar­ter of 2013, as we increased prof­itabil­i­ty in each of our busi­ness sec­tors.  We con­tin­ue to expect indus­try new vehi­cle sales to be approx­i­mate­ly mid-15 mil­lion units in 2013.”

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

  • Domes­tic - Domes­tic seg­ment income was $59 mil­lion com­pared to year-ago seg­ment income of $50 mil­lion.
  • Import - Import seg­ment income was $71 mil­lion com­pared to year-ago seg­ment income of $62 mil­lion.
  • Pre­mi­um Lux­u­ry - Pre­mi­um Lux­u­ry seg­ment income was $69 mil­lion com­pared to year-ago seg­ment income of $59 mil­lion.

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