AutoNation Q2 Revenue Misses as New-Vehicle Sales Slide 3%
AN sits 16% above its 52-week low of $176.62.
Summary
AutoNation's Q2 revenue fell 1% to $6.93 billion, missing the $7 billion consensus, driven by a 3% decline in new-vehicle sales to $3.29 billion. Adjusted EPS of $5.56 beat estimates by $0.08, but the top-line miss and 2% same-store sales drop signal softening demand. This follows the June acquisition of three luxury dealerships, which may have partially offset volume weakness. The revenue shortfall and negative same-store sales trend raise concerns about pricing power and consumer demand heading into the second half.
At the time of this announcement, AN was trading at $205.40 on NYSE in the Trade & Services sector, with a market capitalization of approximately $7.2B. The 52-week trading range was $176.62 to $235.81. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.