UPDATE 1-AutoNation profit falls on higher expenses, lower margins [Reuters]
AutoNation, Inc. (AN)
Last autonation, inc. earnings: 2/11 06:45 am
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Source: Reuters
UPDATE 1-AutoNation profit falls on higher expenses, lower margins | Reuters Reuters Staff 2 Min Read (Adds details, CEO comments, stock action) May 1 (Reuters) - AutoNation Inc shares fell more than 3 percent on Tuesday after the company posted a lower quarterly net profit due to higher interest expenses, narrower margins on new vehicle sales and costs for launching expanded repair parts operations. The largest U.S. auto retail chain’s first-quarter net profit was in line with analyst expectations. Chief executive officer Mike Jackson told Reuters that investment costs for the repair parts business, part of a broader strategy to increase AutoNation’s profits from higher-margin service and financing operations, should decline during the remainder of the year. “You will see leverage as we go deeper in the year,” he said. AutoNation said its retail new vehicle sales overall fell 2 percent in the first quarter from a year ago, and gross profits from new vehicle sales declined an average
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News
- AutoNation, Inc. (NYSE: AN) had its price target raised by analysts at JPMorgan Chase & Co. from $142.00 to $155.00. They now have a "neutral" rating on the stock.MarketBeat
- AutoNation, Inc. (NYSE:AN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- AutoNation, Inc. (NYSE: AN) had its price target raised by analysts at Wells Fargo & Company from $153.00 to $169.00. They now have an "equal weight" rating on the stock.MarketBeat
- AutoNation (AN) Beats Q1 Earnings Estimates, Boosts Buyback [Yahoo! Finance]Yahoo! Finance
- AutoNation: Strong Q1 Results With Aggressive Buybacks Continuing [Seeking Alpha]Seeking Alpha
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Earnings
- 4/26/24 - Beat
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Sec Filings
- 5/6/24 - Form 3
- 5/1/24 - Form 4
- 4/29/24 - Form 144
- AN's page on the SEC website