AutoNation reports Q1 adjusted EPS $4.69, consensus $4.61

Reports Q1 revenue $6.55B, consensus $6.65B. “We are pleased to report our strong first quarter results highlighted by record gross profit in After-Sales and record unit profitability in Customer Financial Services. Unit profitability for new and used vehicles increased sequentially. These gains largely offset expected year-over-year declines in unit sales,” said Mike Manley, Chief Executive Officer of AutoNation (AN). “Adjusted earnings per share increased year-over-year for the fifth consecutive quarter, and strong cash flow conversion supported our continued deployment of capital toward share repurchases. AutoNation Finance continued to scale, growing its portfolio to $2.4 billion while improving profitability, credit performance, and debt funding. Our diversified earnings profile, flexible cost structure, and strong balance sheet and cash flows continue to support resilient performance and disciplined capital deployment to generate shareholder returns in a dynamic operating environment,” Manley concluded.