Revenue and EPS Growth
Quarterly revenue was $9.7 billion, up 4.9% year over year, with adjusted diluted EPS at $9.50, up 17%. This growth reflects strong performance across all business lines.
Used Vehicle and Aftersales Segments
Used retail revenue increased by 11.8% with a 6.3% increase in unit growth. Aftersales revenue increased by 3.9% while gross profit rose 9.1%, with margins expanding to 58.4%.
F&I Revenue Growth
F&I revenue increased by 5.7%, with F&I per retail unit reaching $1,847, up $20 year over year.
Improved Vehicle Inventory Management
Vehicle inventory and carrying costs improved, with new day supply at 52 days, a decrease of 11 days sequentially.
Driveway Finance Penetration Growth
Driveway Finance achieved a 15% penetration rate milestone earlier than expected, contributing to stable earnings.
Share Buyback and Capital Strategy
Repurchased 5.1% of outstanding shares, focusing on significant long-term accretion and maintaining a strong balance sheet.