Full-Year Record Revenue and Profitability
FY2025 consolidated total revenues reached an all-time annual record of $15.2 billion, up 7% year-over-year, consolidated total gross profit was an all-time record $2.4 billion, up 9% year-over-year, and consolidated adjusted EBITDA grew 10% to $615 million.
Strong Full-Year and Q4 EPS Performance
Full-year adjusted EPS was $6.60, an 18% increase vs. 2024. Q4 reported GAAP EPS was $1.36 and adjusted Q4 EPS was $1.52, a 1% increase year-over-year.
Franchise Fixed Ops and F&I Strength
Franchise fixed operations gross profit set a Q4 record (up 8% YoY) and F&I gross profit set an all-time quarterly record (up 6% YoY). Together these high-margin lines contributed over 75% of Q4 total gross profit, helping mitigate new vehicle headwinds.
EchoPark Profitability Acceleration
EchoPark posted Q4 adjusted segment income of $3.6 million (up 300% YoY) and Q4 adjusted EBITDA of $8.8 million (up 110% YoY). Q4 EchoPark gross profit was a record $54 million (up 9% YoY) and full-year EchoPark adjusted EBITDA was a record $49.2 million (up 78% YoY).
Used Vehicle Profitability Improvements at EchoPark
EchoPark segment total GPU was a Q4 record $3,420 per unit, up 15% year-over-year and up 2% sequentially, supporting improved margins despite lower unit volumes.
Powersports Segment Growth
Powersports reported Q4 record revenues of $36 million (up 19% YoY) and Q4 record gross profit of $9 million (up 25% YoY) with combined retail volume up 18% YoY.
Capital Returns and Liquidity
Ended Q4 with $702 million in available liquidity (including $306 million cash and floor plan deposits), repurchased ~600,000 shares in Q4 for ~$38 million (full year repurchases ~1.3 million shares for ~$82 million), and Board approved quarterly dividend of $0.38 per share.
Operational Initiatives and Growth Plans
Company plans to increase non-auction inventory sourcing for EchoPark, invest $10M–$20M in EchoPark brand marketing in 2026, resume disciplined store openings beginning late 2026, and targets long-term EchoPark scale of over 1 million vehicles annually and 90% U.S. coverage.