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AutoCanada Reports Q4 Results and Strategic Shift Amid Market Challenges

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AutoCanada Reports Q4 Results and Strategic Shift Amid Market Challenges

AutoCanada ( (TSE:ACQ) ) has shared an announcement.

AutoCanada reported a decrease in revenue from continuing operations to $1,261.9 million, with a net loss from total operations of $38.4 million for the fourth quarter of 2024. Despite challenges, the company saw a significant improvement in net income from continuing operations, achieving $7.1 million compared to a loss in the previous year. The company completed a strategic review, resulting in the sale of non-core dealerships and the closure of RightRide locations, which is expected to improve financial performance. AutoCanada is focusing on its Operational Transformation Plan to achieve cost savings and enhance operational efficiency, despite facing a cooling Canadian vehicle market and potential risks from U.S. tariffs.

More about AutoCanada

AutoCanada Inc. is a multi-location North American automobile dealership group. The company focuses on selling new and used vehicles and providing related services across Canada and the United States.

YTD Price Performance: -11.93%

Average Trading Volume: 17,956

Technical Sentiment Consensus Rating: Buy

Current Market Cap: C$362.3M

For an in-depth examination of ACQ stock, go to TipRanks’ Stock Analysis page.

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