AutoNation has recently conducted its earnings conference call in which it reported the second quarter 2020 net income from continuing operations of $3.18 per share ($280 million) compared to EPS from continuing operations of $1.12 ($101 million) year prior.
In a press release from AutoNation, the company’s second quarter report included plans to expand its AutoNation USA stand-alone pre-owned vehicle sales and service centers and to build at least 20 more stores through the next three years. Further details will be discussed in the next quarter.
Additionally, AutoNation reported a 25% increase in its domestic segment income which is $82 million compared to $66 million in 2019.
It also reflected an 8% growth in its import segment income with $88 million compared to last year’s $81 million but a 6% decrease in its premium luxury segment income with only $89 million compared to $95 million in the previous year.
Reconciliations of non-GAAP financial measures are also available in the financial tables presented in this report.
A playback of the conference is available until Thursday, Aug. 13, by calling (800) 585-8367 with conference ID: 2597206.
| Selected GAAP Financial Data | ($ in millions, except per share data) | ||
| Q2 2020 | Q2 2019 | YoY | |
| Revenue | $ 4,533.0 | $ 5,343.8 | -15% |
| Gross Profit | $ 795.0 | $ 890.8 | -11% |
| Operating Income | $ 201.4 | $ 203.5 | -1% |
| Net Income from Continuing Operations | $ 279.9 | $ 101.0 | NM |
| Diluted EPS from Continuing Operations | $ 3.18 | $ 1.12 | NM |
| Selected Non-GAAP Financial Data | ($ in millions, except per share data) | ||
| Q2 2020 | Q2 2019 | YoY | |
| Adjusted Operating Income | $ 206.9 | $ 213.1 | -3% |
| Adjusted Net Income from Continuing Operations | $ 123.9 | $ 108.3 | 14% |
| Adjusted Diluted EPS from Continuing Operations | $ 1.41 | $ 1.20 | 18% |
| NM=Not Meaningful |
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