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.