AutoNation's Q3 revenue dips to $.6.6B

Full story: https://grafa.com/news/auto-and-cars-autonation-s-q3-revenue-dips-to---6-6b-293727

AutoNation (NYSE:AN) has reported a slight decline in its third-quarter revenue for 2024, with figures reaching $6.6 billion compared to $6.9 billion in the same period last year.

During the quarter, the company's net income came in at $185.8 million, translating to $4.61 per share.

When adjusted for non-recurring gains, earnings stood at $4.02 per share.

These results fell short of Wall Street expectations, where the average estimate from six analysts surveyed by Zacks Investment Research predicted earnings of $4.48 per share.

Despite the quarter's challenges, AutoNation reported a record after-sales gross profit of $558 million and disclosed that it had maintained a strong liquidity position, with $1.6 billion available at the end of the quarter.

AutoNation also highlighted the resilience of its operations amidst challenges, notably a CDK outage in July that affected many in the industry.

Despite the CDK issue, the company experienced growth in new vehicle sales.

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During the quarter, the company's net income came in at $185.8 million, translating to $4.61 per share. When adjusted for non-recurring gains, earnings stood at $4.02 per share. These results fell short of Wall Street expectations, where the average estimate from six analysts surveyed by Zacks Investment Research predicted earnings of $4.48 per share. Despite the quarter's challenges, AutoNation reported a record after-sales gross profit of $558 million and disclosed that it had maintained a strong liquidity position, with $1.6 billion available at the end of the quarter. AutoNation also highlighted the resilience of its operations amidst challenges, notably a CDK outage in July that affected many in the industry. 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