AutoNation Reports 2Q Results

By Staff Writer July 23, 2020

AutoNation reported second quarter 2020 net income from continuing operations of $280 million, or $3.18 per share, which included a non-cash unrealized gain related to their investment in Vroom of $161 million after-tax, or $1.82 per share. Second quarter 2019 net income from continuing operations was $101 million, or $1.12 per share, which included non-cash franchise rights impairment charges of $7 million after-tax, or $0.08 per share. Reconciliations of non-GAAP financial measures are included in the attached financial tables.

Same-store second quarter 2020 revenue totaled $4.5 billion, a decrease of 14 percent compared to the same period a year ago. Same-store second quarter 2020 gross profit totaled $795 million, a decrease of 9 percent compared to the year-ago period. Same-store new vehicle gross profit per vehicle retailed was $2,194, up $389 or 22 percent compared to the year-ago period. Same-store used vehicle gross profit per vehicle retailed was $1,801, up $338 or 23 percent compared to the year-ago-period. Same-store Customer Financial Services gross profit per vehicle retailed was an all-time record $2,172, up $240 or 12 percent compared to the year-ago period.

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Last modified on Friday, 24 July 2020 15:09

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