AutoNation Reports Second Quarter 2018 Results, Net Income from Continuing Operations Up 11%
AutoNation, Inc. (AN)
Last autonation, inc. earnings: 2/11 06:45 am
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Source: PR Newswire
FORT LAUDERDALE, Fla., Aug. 1, 2018 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN), America's largest automotive retailer, today reported second quarter 2018 net income from continuing operations of $97 million, or $1.07 per share, up 11% compared to second quarter 2017 net income from continuing operations of $88 million, or $0.86 per share. Second quarter 2018 net income from continuing operations included a non-cash franchise rights impairment charge of $6 million after-tax, or $0.07 per share.Second quarter 2018 revenue totaled $5.4 billion compared to $5.3 billion in the year-ago period. Same-store second quarter 2018 revenue totaled $5.3 billion compared to $5.1 billion in the year-ago period, an increase of 4%. Same-store second quarter 2018 gross profit of $839 million increased by 4% compared to $806 million in the year-ago period, driven by increases in used vehicle gross profit of 22%, Customer Financial Services gross profit of 10%, and Customer Care gross profit of 4%. Same-
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