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Earnings Call Summary | AutoNation(AN.US) Q1 2024 Earnings Conference

Futu News ·  Apr 27 08:59  · Conference Call

The following is a summary of the AutoNation, Inc. (AN) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • AutoNation reported slight Q1 revenue growth of 1%.

  • Gross profit at $1.2 billion, accounting for 18.5% of revenues.

  • The operating income and net income were $348 million and $190 million respectively.

  • The EPS for the quarter stood at $4.49.

  • The company delivered an adjusted free cash flow of $257 million.

  • The company's leverage was at 2.25 times EBITDA, staying within their target range.

Business Progress:

  • AutoNation saw an increase in new vehicle unit sales by 7% in Q1.

  • The company focused on developing customer offerings which helped originate over $160 million of loans with AutoNation Finance.

  • The rollout of their new plan included the opening of four additional AutoNation USA stores, bringing the total store count to 23.

  • With successful customer-focused initiatives like AutoNation Mobile Services, they attracted over 120,000 new customers.

  • For the future, the company plans to increase throughput in AutoNation Finance, driving more growth.

More details: AutoNation IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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