Company expects to complete Tekion rollout across operations this fall
Overview
U.S. auto retailer's Q2 revenue was flat yr/yr and missed analyst expectations
Adjusted EPS for Q2 beat consensus, though fell 15% yr/yr
Company repurchased $131 mln in shares during the quarter
Result drivers
Tekion implementation - Co said 70% of stores converted to new dealership management system, with management citing operating improvements in converted stores
Used vehicle profitability - Used retail gross profit per unit rose 16% yr/yr to $2,002
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$4.40 bln
$4.49 bln (8 Analysts)
Q2 Adjusted EPS
Beat
$6.82
$6.31 (10 Analysts)
Q2 EPS
$6.25
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
ABG•
