AutoNation Reports Record Second Quarter EPS from Continuing Operations

FORT LAUDERDALE, Fla., July 23, 2019 /PRNewswire/ -- AutoNation, Inc. AN, America's largest automotive retailer, today reported second quarter 2019 net income from continuing operations of $101 million, or $1.12 per share, up 4% compared to second quarter 2018 net income from continuing operations of $97 million, or $1.07 per share. Net income from continuing operations included non-cash franchise rights impairment charges of $7 million after-tax, or $0.08 per share, in the second quarter of 2019 and $6 million after-tax, or $0.07 per share, in the second quarter of 2018.

Same-store second quarter 2019 revenue totaled $5.3 billion, which was relatively flat compared to the same period a year ago. Same-store second quarter 2019 gross profit totaled $879 million, an increase of 5% compared to the year-ago period, driven by growth in Customer Care, Used Vehicle, and Customer Financial Services gross profit. Same-store new vehicle gross profit per vehicle retailed was $1,764, up $165 or 10% compared to the year-ago period. Same-store used vehicle gross profit per vehicle retailed was relatively flat compared to the year-ago period at $1,459. Same-store Customer Financial Services gross profit per vehicle retailed was an all-time record of $1,926, up $134 or 7% compared to the year-ago period.

Share Repurchase

During the second quarter of 2019, AutoNation repurchased 0.3 million shares of common stock for an aggregate purchase price of $11 million. As of July 19, 2019, AutoNation has approximately $219 million remaining Board authorization for share repurchase and 89 million shares outstanding.  

Segment Results

Segment results(1) for the second quarter 2019 were as follows:

Second Quarter 2019 Segment Results

  • Domestic - Domestic segment income(2) was $66 million compared to year-ago segment income of $67 million, a decrease of 2%. 
  • Import - Import segment income(2) was $81 million, compared to year-ago segment income of $78 million, an increase of 4%. 
  • Premium Luxury - Premium Luxury segment income(2) was $95 million compared to year-ago segment income of $85 million, an increase of 12%.

For the six-month period ended June 30, 2019, AutoNation reported net income from continuing operations of $193 million, or $2.14 per share, compared to $191 million, or $2.08 per share, for the same period in the prior year. AutoNation's revenue for the six-month period ended June 30, 2019, totaled $10.3 billion, down 3% compared to $10.7 billion for the same period in the prior year.

In 2015, AutoNation launched its Drive Pink initiative. Through Drive Pink, AutoNation has engaged customers, teammates, and the community in its mission to find a cure for cancer. As of June 30, 2019, with millions of Drive Pink license plates on vehicles from coast to coast to date, AutoNation has raised over $20 million and remains committed to drive out cancer, create awareness, and support critical research.

The second quarter conference call may be accessed by telephone at (866) 211-3176 (Conference ID: 5586851) at 11:00 a.m. Eastern Time today or on AutoNation's investor relations website at investors.autonation.com.

The webcast will also be available on AutoNation's website under "Events & Presentations" following the call. A playback of the conference call will be available after 2:00 p.m. Eastern Time on July 23, 2019, through August 21, 2019, by calling (800) 585-8367 (Conference ID: 5586851).

(1) AutoNation has three reportable segments: Domestic, Import, and Premium Luxury. The Domestic segment is comprised of stores that sell vehicles manufactured by General Motors, Ford, and FCA US; the Import segment is comprised of stores that sell vehicles manufactured primarily by Toyota, Honda, Nissan, and Hyundai; and the Premium Luxury segment is comprised of stores that sell vehicles manufactured primarily by Mercedes-Benz, BMW, Lexus, Jaguar Land Rover, and Audi.

(2) Segment income represents income for each of our reportable segments and is defined as operating income less floorplan interest expense.

About AutoNation, Inc.

AutoNation, America's largest automotive retailer, is transforming the automotive industry through its bold leadership, innovation, and comprehensive brand extensions. As of June 30, 2019, AutoNation owned and operated over 325 locations from coast to coast. AutoNation has sold over 12 million vehicles, the first automotive retailer to reach this milestone. AutoNation's success is driven by a commitment to delivering a peerless experience through customer-focused sales and service processes. Launched in 2015, AutoNation's Drive Pink initiative, which has raised over $20 million, is committed to drive out cancer, create awareness, and support critical research. AutoNation continues to be a proud supporter of the Breast Cancer Research Foundation and other cancer-related charities.

Please visit www.autonation.com, investors.autonation.com, www.twitter.com/CEOLiebert, and www.twitter.com/AutoNation, where AutoNation discloses additional information about the Company, its business, and its results of operations. Please also visit www.autonationdrive.com, AutoNation's automotive blog, for information regarding the AutoNation community, the automotive industry, and current automotive news and trends.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "intends," "goals," "plans," "believes," "continues," "may," "will," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding our strategic initiatives, partnerships, or investments, including our brand extension strategies, and expectations for our restructuring and cost savings plan, future results and the future performance of our franchises (including with respect to sales of used vehicles and parts and accessories) and the automotive retail industry, as well as other statements that describe our objectives, goals, or plans are forward-looking statements. Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties and other factors that are difficult to predict and may cause our actual results, performance or achievements to be materially different from any future results, performance and achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: economic conditions, including changes in interest rates, fuel prices, and tariffs; new and used vehicle margins; the success and financial viability and the incentive and marketing programs of vehicle manufacturers and distributors with which we hold franchises; our ability to successfully implement, and customer adoption of, our brand extension strategies; our ability to identify, acquire, and build out suitable locations in a timely manner; our ability to maintain and enhance our retail brands and reputation and to attract consumers to our own digital channels; our ability to integrate successfully acquired and awarded franchises and to attain planned sales volumes within our expected time frames; restrictions imposed by vehicle manufacturers and our ability to obtain manufacturer approval for acquisitions; natural disasters and other adverse weather events; the resolution of legal and administrative proceedings; regulatory factors affecting our business, including fuel economy requirements; the announcement of safety recalls; factors affecting our goodwill and other intangible asset impairment testing; and other factors described in our news releases and filings made under the securities laws, including, among others, our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Forward-looking statements contained in this news release speak only as of the date of this news release, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

 

AUTONATION, INC. 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In millions, except per share data)



























Three Months Ended June 30,



Six Months Ended June 30,







2019



2018



2019



2018





















Revenue:



















New vehicle

$

2,769.6

$

2,949.6

$

5,266.3

$

5,751.9



Used vehicle



1,379.4



1,298.7



2,719.0



2,629.2



Parts and service



901.5



857.1



1,778.2



1,715.6



Finance and insurance, net



255.2



247.8



491.7



488.6



Other



38.1



38.8



70.4



66.6

Total revenue



5,343.8



5,392.0



10,325.6



10,651.9





















Cost of sales:



















New vehicle



2,644.1



2,824.8



5,018.9



5,497.4



Used vehicle



1,282.6



1,207.5



2,531.7



2,452.2



Parts and service



489.6



469.8



967.4



942.8



Other



36.7



38.1



67.6



65.4

Total cost of sales



4,453.0



4,540.2



8,585.6



8,957.8





















Gross profit



890.8



851.8



1,740.0



1,694.1





















Selling, general, and administrative expenses



637.0



625.3



1,260.0



1,252.1

Depreciation and amortization



44.4



41.1



88.5



81.1

Franchise rights impairment



9.6



8.1



9.6



8.1

Other income, net



(3.7)



(13.9)



(12.4)



(24.2)





















Operating income



203.5



191.2



394.3



377.0





















Non-operating income (expense) items:



















Floorplan interest expense



(37.4)



(32.4)



(76.4)



(60.7)



Other interest expense



(27.7)



(29.7)



(55.5)



(62.0)



Interest income



0.1



0.3



0.3



0.5



Other income (loss), net



(0.3)



0.2



1.6



1.0





















Income from continuing operations before income taxes



138.2



129.6



264.3



255.8





















Income tax provision



37.2



32.2



71.2



65.1





















Net income from continuing operations



101.0



97.4



193.1



190.7





















Income (loss) from discontinued operations, net of income taxes



(0.2)



0.2



(0.3)



0.6









































Net income

$

100.8

$

97.6

$

192.8

$

191.3









































Diluted earnings (loss) per share*:



















Continuing operations

$

1.12

$

1.07

$

2.14

$

2.08



Discontinued operations

$

-

$

-

$

-

$

0.01























Net income

$

1.12

$

1.07

$

2.13

$

2.08









































Weighted average common shares outstanding



90.2



91.2



90.4



91.9





















Common shares outstanding, net of treasury stock, at period end



89.1



89.8



89.1



89.8









































* Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.









 

 

 AUTONATION, INC. 

 UNAUDITED SUPPLEMENTARY DATA 

 ($ in millions, except per vehicle data) 

















































































Operating Highlights



Three Months Ended June 30,



 Six Months Ended June 30, 









2019



2018



$ Variance



% Variance



2019



2018



$ Variance



% Variance

Revenue:





































New vehicle

$

2,769.6

$

2,949.6

$

(180.0)



(6.1)

$

5,266.3

$

5,751.9

$

(485.6)



(8.4)





  Retail used vehicle



1,307.2



1,217.4



89.8



7.4



2,569.0



2,454.5



114.5



4.7





  Wholesale



72.2



81.3



(9.1)



(11.2)



150.0



174.7



(24.7)



(14.1)





Used vehicle



1,379.4



1,298.7



80.7



6.2



2,719.0



2,629.2



89.8



3.4





Finance and insurance, net



255.2



247.8



7.4



3.0



491.7



488.6



3.1



0.6



Total variable operations



4,404.2



4,496.1



(91.9)



(2.0)



8,477.0



8,869.7



(392.7)



(4.4)



Parts and service



901.5



857.1



44.4



5.2



1,778.2



1,715.6



62.6



3.6



Other



38.1



38.8



(0.7)







70.4



66.6



3.8





Total revenue

$

5,343.8

$

5,392.0

$

(48.2)



(0.9)

$

10,325.6

$

10,651.9

$

(326.3)



(3.1)













































































Gross profit:





































New vehicle

$

125.5

$

124.8

$

0.7



0.6

$

247.4

$

254.5

$

(7.1)



(2.8)





  Retail used vehicle



90.5



87.0



3.5



4.0



174.8



169.0



5.8



3.4





  Wholesale



6.3



4.2



2.1







12.5



8.0



4.5









Used vehicle



96.8



91.2



5.6



6.1



187.3



177.0



10.3



5.8





Finance and insurance



255.2



247.8



7.4



3.0



491.7



488.6



3.1



0.6



Total variable operations



477.5



463.8



13.7



3.0



926.4



920.1



6.3



0.7



Parts and service



411.9



387.3



24.6



6.4



810.8



772.8



38.0



4.9



Other



1.4



0.7



0.7







2.8



1.2



1.6





Total gross profit



890.8



851.8



39.0



4.6



1,740.0



1,694.1



45.9



2.7







































Selling, general, and administrative expenses



637.0



625.3



(11.7)



(1.9)



1,260.0



1,252.1



(7.9)



(0.6)







































Depreciation and amortization



44.4



41.1



(3.3)







88.5



81.1



(7.4)





Franchise rights impairment



9.6



8.1



(1.5)







9.6



8.1



(1.5)





Other income, net



(3.7)



(13.9)



(10.2)







(12.4)



(24.2)



(11.8)





 Operating income 



203.5



191.2



12.3



6.4



394.3



377.0



17.3



4.6







































Non-operating income (expense) items:





































Floorplan interest expense



(37.4)



(32.4)



(5.0)







(76.4)



(60.7)



(15.7)









Other interest expense



(27.7)



(29.7)



2.0







(55.5)



(62.0)



6.5









Interest income



0.1



0.3



(0.2)







0.3



0.5



(0.2)









Other income (loss), net



(0.3)



0.2



(0.5)







1.6



1.0



0.6





Income from continuing operations before income taxes

$

138.2

$

129.6

$

8.6



6.6

$

264.3

$

255.8

$

8.5



3.3







































Retail vehicle unit sales:





































New 



70,516



79,054



(8,538)



(10.8)



134,029



153,232



(19,203)



(12.5)





Used



62,339



60,081



2,258



3.8



123,510



122,291



1,219



1.0









132,855



139,135



(6,280)



(4.5)



257,539



275,523



(17,984)



(6.5)







































Revenue per vehicle retailed:





































New 

$

39,276

$

37,311

$

1,965



5.3

$

39,292

$

37,537

$

1,755



4.7





Used

$

20,969

$

20,263

$

706



3.5

$

20,800

$

20,071

$

729



3.6







































Gross profit per vehicle retailed:





































New 

$

1,780

$

1,579

$

201



12.7

$

1,846

$

1,661

$

185



11.1





Used

$

1,452

$

1,448

$

4



0.3

$

1,415

$

1,382

$

33



2.4





Finance and insurance

$

1,921

$

1,781

$

140



7.9

$

1,909

$

1,773

$

136



7.7





Total variable operations(1)

$

3,547

$

3,303

$

244



7.4

$

3,549

$

3,310

$

239



7.2

















































































Operating Percentages



 Three Months Ended June 30, 



 Six Months Ended June 30, 

























2019 (%)



2018 (%)



2019 (%)



2018 (%)























































Revenue mix percentages:





































New vehicle



51.8



54.7



51.0



54.0





















Used vehicle



25.8



24.1



26.3



24.7





















Parts and service



16.9



15.9



17.2



16.1





















Finance and insurance, net



4.8



4.6



4.8



4.6





















Other



0.7



0.7



0.7



0.6

























100.0



100.0



100.0



100.0























































Gross profit mix percentages:





































New vehicle



14.1



14.7



14.2



15.0





















Used vehicle



10.9



10.7



10.8



10.4





















Parts and service



46.2



45.5



46.6



45.6





















Finance and insurance



28.6



29.1



28.3



28.8





















Other



0.2



-



0.1



0.2

























100.0



100.0



100.0



100.0























































Operating items as a percentage of revenue:





































Gross profit:





































   New vehicle



4.5



4.2



4.7



4.4





















   Used vehicle - retail



6.9



7.1



6.8



6.9





















   Parts and service



45.7



45.2



45.6



45.0





















   Total



16.7



15.8



16.9



15.9





















Selling, general, and administrative expenses



11.9



11.6



12.2



11.8





















Operating income



3.8



3.5



3.8



3.5























































Operating items as a percentage of total gross profit:





































Selling, general, and administrative expenses



71.5



73.4



72.4



73.9





















Operating income



22.8



22.4



22.7



22.3





























































































(1)  Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit sales.

 

 

 AUTONATION, INC. 

 UNAUDITED SUPPLEMENTARY DATA 

 ($ in millions) 











































































Segment Operating Highlights



Three Months Ended June 30,



 Six Months Ended June 30, 







2019



2018



$ Variance



% Variance



2019



2018



$ Variance



% Variance









































































Revenue:



































Domestic

$

1,707.3

$

1,826.1

$

(118.8)



(6.5)

$

3,276.1

$

3,599.8

$

(323.7)



(9.0)



Import



1,627.3



1,717.0



(89.7)



(5.2)



3,123.4



3,369.6



(246.2)



(7.3)



Premium luxury



1,820.9



1,730.2



90.7



5.2



3,555.0



3,448.0



107.0



3.1



    Total



5,155.5



5,273.3



(117.8)



(2.2)



9,954.5



10,417.4



(462.9)



(4.4)



Corporate and other



188.3



118.7



69.6



58.6



371.1



234.5



136.6



58.3



    Total consolidated revenue

$

5,343.8

$

5,392.0

$

(48.2)



(0.9)

$

10,325.6

$

10,651.9

$

(326.3)



(3.1)









































































Segment income*:



































Domestic

$

65.9

$

67.1

$

(1.2)



(1.8)

$

122.1

$

127.4

$

(5.3)



(4.2)



Import



81.4



78.1



3.3



4.2



154.0



150.9



3.1



2.1



Premium luxury



95.3



84.9



10.4



12.2



179.6



172.6



7.0



4.1



    Total 



242.6



230.1



12.5



5.4



455.7



450.9



4.8



1.1





































Corporate and other



(76.5)



(71.3)



(5.2)







(137.8)



(134.6)



(3.2)





Add:  Floorplan interest expense



37.4



32.4



5.0







76.4



60.7



15.7





Operating income

$

203.5

$

191.2

$

12.3



6.4

$

394.3

$

377.0

$

17.3



4.6





































* Segment income represents income for each of our reportable segments and is defined as operating income less floorplan interest expense.





















































Retail new vehicle unit sales:



































Domestic



22,685



26,300



(3,615)



(13.7)



42,890



50,905



(8,015)



(15.7)



Import



31,957



36,286



(4,329)



(11.9)



60,713



70,236



(9,523)



(13.6)



Premium luxury



15,874



16,468



(594)



(3.6)



30,426



32,091



(1,665)



(5.2)







70,516



79,054



(8,538)



(10.8)



134,029



153,232



(19,203)



(12.5)











































































Brand Mix - Retail New Vehicle Units Sold







































 Three Months Ended June 30, 



 Six Months Ended June 30, 























2019 (%)



2018 (%)



2019 (%)



2018 (%)























































Domestic:



































   Ford, Lincoln



11.2



12.6



11.4



12.5



















   Chevrolet, Buick, Cadillac, GMC



11.1



10.9



11.0



11.2



















   Chrysler, Dodge, Jeep, Ram



9.9



9.8



9.6



9.5



















     Domestic total



32.2



33.3



32.0



33.2























































Import:



































   Toyota



19.9



19.1



19.5



19.1



















   Honda



14.4



14.3



14.5



13.9



















   Nissan



3.6



5.2



3.7



5.6



















   Other Import



7.4



7.3



7.6



7.3



















     Import total



45.3



45.9



45.3



45.9























































Premium Luxury:



































   Mercedes-Benz



8.4



8.0



8.5



8.2



















   BMW



6.2



4.9



6.1



4.8



















   Lexus



2.2



2.3



2.3



2.3



















   Audi



2.0



2.2



2.0



2.2



















   Jaguar Land Rover



2.2



2.0



2.3



2.0



















   Other Premium Luxury 



1.5



1.4



1.5



1.4



















     Premium Luxury total



22.5



20.8



22.7



20.9



























































100.0



100.0



100.0



100.0

















 

 

 AUTONATION, INC

 UNAUDITED SUPPLEMENTARY DATA, Continued

 ($ in millions)



























































































































Capital Expenditures / Stock Repurchases



 Three Months Ended June 30,



 Six Months Ended June 30,

















2019



2018



2019



2018









































Capital expenditures (1)

$

67.2

$

103.2

$

107.6

$

182.7











Cash paid for acquisitions, net of cash acquired

$

-

$

0.8

$

4.3

$

2.7











Proceeds from exercises of stock options

$

2.9

$

0.9

$

3.2

$

14.2











Stock repurchases:





























Aggregate purchase price

$

11.2

$

73.4

$

44.7

$

100.0













Shares repurchased (in millions)



0.3



1.6



1.3



2.1









































































Floorplan Assistance and Expense



 Three Months Ended June 30,



 Six Months Ended June 30,









2019



2018



 Variance



2019



2018



 Variance

































Floorplan assistance earned (included in cost of sales)

$

27.6

$

29.7

$

(2.1)

$

52.8

$

58.2

$

(5.4)



New vehicle floorplan interest expense



(35.0)



(30.4)



(4.6)



(71.4)



(56.6)



(14.8)



































Net new vehicle inventory carrying benefit (cost)

$

(7.4)

$

(0.7)

$

(6.7)

$

(18.6)

$

1.6

$

(20.2)

































































Balance Sheet and Other Highlights































































June 30, 2019



December 31, 2018



June 30, 2018













































Cash and cash equivalents

$

51.1

$

48.6

$

53.1















Inventory

$

3,517.9

$

3,650.5

$

3,587.0















Total floorplan notes payable

$

3,731.2

$

3,997.7

$

3,839.9















Non-vehicle debt

$

2,440.1

$

2,600.5

$

2,660.1















Equity

$

2,882.9

$

2,716.0

$

2,500.6















New days supply (industry standard of selling days)



 75 days



 60 days



 76 days















Used days supply (trailing calendar month days)



 35 days



 42 days



 33 days











































































































Key Credit Agreement Covenant Compliance Calculations(2)

























































Leverage ratio







 2.84x



















Covenant

less than or equal to



 3.75x

















































Capitalization ratio







58.0%



















Covenant

less than or equal to



70.0%















































































(1)

Includes accrued construction in progress and excludes property associated with leases entered into during the period



















(2)

Calculated in accordance with our credit agreement as filed with the SEC

















 

 

 AUTONATION, INC. 

 UNAUDITED SAME STORE DATA 

 ($ in millions, except per vehicle data) 

















































































Operating Highlights



Three Months Ended June 30,



 Six Months Ended June 30, 









2019



2018



$ Variance



% Variance



2019



2018



$ Variance



% Variance

Revenue:





































New vehicle

$

2,730.3

$

2,894.6

$

(164.3)



(5.7)

$

5,183.6

$

5,620.9

$

(437.3)



(7.8)





  Retail used vehicle



1,289.6



1,198.8



90.8



7.6



2,526.4



2,402.1



124.3



5.2





  Wholesale



71.7



80.3



(8.6)



(10.7)



147.4



171.4



(24.0)



(14.0)





Used vehicle



1,361.3



1,279.1



82.2



6.4



2,673.8



2,573.5



100.3



3.9





Finance and insurance, net



253.2



244.4



8.8



3.6



487.2



480.3



6.9



1.4



Total variable operations



4,344.8



4,418.1



(73.3)



(1.7)



8,344.6



8,674.7



(330.1)



(3.8)



Parts and service



886.7



841.3



45.4



5.4



1,743.2



1,676.2



67.0



4.0



Other



38.1



38.8



(0.7)







68.4



66.5



1.9





Total revenue

$

5,269.6

$

5,298.2

$

(28.6)



(0.5)

$

10,156.2

$

10,417.4

$

(261.2)



(2.5)













































































Gross profit:





































New vehicle

$

123.2

$

123.7

$

(0.5)



(0.4)

$

243.1

$

252.0

$

(8.9)



(3.5)





  Retail used vehicle



90.0



86.2



3.8



4.4



173.2



166.9



6.3



3.8





  Wholesale



6.3



4.3



2.0







11.8



8.2



3.6









Used vehicle



96.3



90.5



5.8



6.4



185.0



175.1



9.9



5.7





Finance and insurance



253.2



244.4



8.8



3.6



487.2



480.3



6.9



1.4



Total variable operations



472.7



458.6



14.1



3.1



915.3



907.4



7.9



0.9



Parts and service



405.2



379.9



25.3



6.7



795.0



754.3



40.7



5.4



Other



1.5



1.0



0.5







2.8



1.4



1.4





Total gross profit

$

879.4

$

839.5

$

39.9



4.8

$

1,713.1

$

1,663.1

$

50.0



3.0







































Retail vehicle unit sales:





































New 



69,827



77,374



(7,547)



(9.8)



132,491



149,283



(16,792)



(11.2)





Used



61,665



58,993



2,672



4.5



121,666



119,243



2,423



2.0









131,492



136,367



(4,875)



(3.6)



254,157



268,526



(14,369)



(5.4)







































Revenue per vehicle retailed:





































New 

$

39,101

$

37,410

$

1,691



4.5

$

39,124

$

37,653

$

1,471



3.9





Used

$

20,913

$

20,321

$

592



2.9

$

20,765

$

20,145

$

620



3.1







































Gross profit per vehicle retailed:





































New 

$

1,764

$

1,599

$

165



10.3

$

1,835

$

1,688

$

147



8.7





Used

$

1,459

$

1,461

$

(2)



(0.1)

$

1,424

$

1,400

$

24



1.7





Finance and insurance

$

1,926

$

1,792

$

134



7.5

$

1,917

$

1,789

$

128



7.2





Total variable operations(1)

$

3,547

$

3,331

$

216



6.5

$

3,555

$

3,349

$

206



6.2

















































































Operating Percentages



 Three Months Ended June 30, 



 Six Months Ended June 30, 

























2019 (%)



2018 (%)



2019 (%)



2018 (%)























































Revenue mix percentages:





































New vehicle



51.8



54.6



51.0



54.0





















Used vehicle



25.8



24.1



26.3



24.7





















Parts and service



16.8



15.9



17.2



16.1





















Finance and insurance, net



4.8



4.6



4.8



4.6





















Other



0.8



0.8



0.7



0.6

























100.0



100.0



100.0



100.0























































Gross profit mix percentages:





































New vehicle



14.0



14.7



14.2



15.2





















Used vehicle



11.0



10.8



10.8



10.5





















Parts and service



46.1



45.3



46.4



45.4





















Finance and insurance



28.8



29.1



28.4



28.9





















Other



0.1



0.1



0.2



-

























100.0



100.0



100.0



100.0























































Operating items as a percentage of revenue:





































Gross profit:





































   New vehicle



4.5



4.3



4.7



4.5





















   Used vehicle - retail



7.0



7.2



6.9



6.9





















   Parts and service



45.7



45.2



45.6



45.0





















   Total



16.7



15.8



16.9



16.0























































(1)  Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit sales.

 

AutoNation Logo (PRNewsfoto/AutoNation, Inc.)

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/autonation-reports-record-second-quarter-eps-from-continuing-operations-300889026.html

SOURCE AutoNation, Inc.

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