AutoNation reported third quarter 2024 revenue of $6.6 billion, EPS of $4.61, and adjusted EPS of $4.02.

Used vehicle gross profit decreased $82 million reflecting a gross profit per vehicle retailed of $1,565 compared to $1,907 a year ago and a 4% decrease in unit sales.

Third quarter results were adversely impacted by the residual effects of the CDK outage in July, which reduced earnings per share by an estimated $0.21 per share. Adjusted EPS excludes $0.59 of net favorable items, primarily related to gains on business and property dispositions, partially offset by other items. Reconciliations of non-GAAP financial measures are included in the attached financial tables.

“We are pleased to deliver solid operating results for the third quarter driven primarily by new vehicle unit sales growth, continued After-Sales momentum, and disciplined cost controls,” said Mike Manley, AutoNation’s chief executive officer. “We were able to navigate through a challenging environment, which included the lingering effects of the CDK outage, which we are relieved to now have behind us, weather challenges, and OEM stop-sale orders. Looking ahead, we remain focused on shareholder returns, are encouraged by the moderating interest rates and OEM support actions and are committed to delivering a strong close to the year.”