Retail Chain Reports Fourth Quarter Results Featured

By Staff Writer February 26, 2019 546

AutoNation Inc. reported fourth quarter 2018 net income from continuing operations of $93 million, or $1.02 per share. Restructuring-related charges of $0.08 per share, or approximately $9 million, were incurred during the fourth quarter of 2018. Fourth quarter 2017 net income from continuing operations totaled $152 million, or $1.64 per share. Fourth quarter 2017 EPS from continuing operations included a benefit of $0.45 per share due to the enactment of the federal tax reform bill.


Fourth quarter 2018 revenue totaled $5.4 billion compared to $5.7 billion in the year-ago period. Same-store fourth quarter 2018 revenue totaled $5.3 billion compared to $5.5 billion in the year-ago period, a decrease of 4 percent. Same-store fourth quarter 2018 gross profit of $832 million decreased by 2 percent compared to $846 million in the year-ago period.


The company's plan to reduce costs by approximately $50 million annually includes a reorganization and realignment of its operating structure, including the consolidation of its regional structure from three regions to two regions.


For the full year ended Dec. 31, 2018, AutoNation reported net income from continuing operations of $396 million, or $4.34 per share, compared to net income from continuing operations of $435 million, or $4.43 per share, for the same period in the prior year. AutoNation's revenue for full year 2018 totaled $21.4 billion, which was down slightly compared to $21.5 billion for the same period in the prior year.

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Last modified on Tuesday, 26 February 2019 14:20