AutoNation Q2 adjusted EPS beats estimates on finance portfolio growth
AN•Overview
- U.S. auto retailer's Q2 revenue fell 1% yr/yr, missing analyst expectations
- Adjusted EPS for Q2 rose 2% and beat analyst expectations
- Company repurchased $457 mln in shares in H1, reducing shares outstanding by over 6%
Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $6.93 bln | $7.02 bln (10 Analysts) |
| Q2 Adjusted EPS | Beat | $5.56 | $5.50 (12 Analysts) |
| Q2 EPS | $5.39 |
Result Drivers
- AFTER-SALES PROFIT - Co reported record after-sales gross profit, with customer pay up 7%
- FINANCE PORTFOLIO GROWTH - AutoNation Finance portfolio grew over 50%, with year-to-date profit up 10x
- FINANCE & INSURANCE MARGIN - Gross profit per unit in customer financial services rose 3%
Analyst Coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
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