AutoNation returning $77 million in U.S. payroll assistance coronavirus relief loans [Reuters]
AutoNation, Inc. (AN)
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Source: Reuters
AutoNation returning $77 million in U.S. payroll assistance coronavirus relief loans WASHINGTON (Reuters) - AutoNation Inc ( AN.N ), the largest U.S. auto dealership chain, said on Friday it will return $77 million it received in forgivable loans from the U.S. Paycheck Protection Program (PPP) meant to help struggling small businesses and employees during the coronavirus outbreak. Marc Cannon, a spokesman for the company, told Reuters that AutoNation was “clearly eligible and applied on behalf of the 7,000 employees furloughed caused by the COVID-19 crisis.” He said the company “intended to rehire all 7,000 associates under the PPP program as encouraged by the government and designed to get individuals back to work.” AutoNation has implemented cost-cutting measures, including temporary pay cuts for staff, curtailing of advertising expenses and postponing over $50 million of capital expenditures through the second quarter of 2020. On Thursday, the Small Business Administration issued
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News
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- AutoNation, Inc. (NYSE: AN) had its price target lowered by analysts at Bank of America Co. from $220.00 to $215.00. They now have a "buy" rating on the stock.MarketBeat
- AutoNation Announces First Quarter 2024 Earnings Conference Call and Audio Webcast Scheduled for Friday, April 26, 2024PR Newswire
- AutoNation's (NYSE:AN) five-year total shareholder returns outpace the underlying earnings growth [Yahoo! Finance]Yahoo! Finance
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Earnings
- 2/13/24 - Beat
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Sec Filings
- 4/25/24 - Form 8-K
- 3/22/24 - Form SC
- 3/22/24 - Form 4
- AN's page on the SEC website