AutoNation reported its third quarter 2020 business results with net income from continuing operations of $183 million, or $2.05 per share.
This included charges of $28 million after tax, or $0.31 per share, related to the closing of the AutoNation Collision Parts business and a non-cash unrealized loss related to its investment in Vroom of $2 million after tax, or $0.02 per share.
AutoNation’s Board of Directors has increased share repurchase authorization to $500 million, according to a press release from the company.
The report also highlighted that the company is planning to build more than 100 AutoNation USA pre-owned vehicle stores, with more than 50 completed by the end of 2025.
The results and other third quarter business matters have been discussed during a recently held conference call. A playback of which is available until Wednesday, Nov. 11 by calling (800) 585-8367 (Conference ID: 6355384).
AutoNation’s October 2020 Investor Presentation is also available at the company website and can be accessed through its investor relations web page.
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