AutoNation reported its record EPS of $4.83 versus $2.81EPS estimated and $3.18 figure in the same quarter of 2020. The company announced a $1 billion common stock repurchase.
- Same-store revenue increased by 54% from the previous year to stand at an all-time record of $7.0 billion. Same-store gross profit was $1.3 billion up by 68% from 2020.
- AutoNation aims at opening 136 AutoNation USA stores by 2026, 4 of which will be operational in the second half of 2021.
- In the second quarter of 2021, the company purchased 9% of outstanding shares of common stock.
- AutoNation reported liquidity of $1.6 billion and $2 billion in non-vehicle debt.
“Demand continues to outpace supply for new vehicles. We expect this to continue into 2022 due to consumers’ preference for personal transportation coupled with lower interest rates,” – AutoNation’s CEO Mike Jackson stated.