Solid Free Cash Flow Generation and Improved Margins Drive AutoNation's Q2 Earnings
AutoNation, Inc. [AN] reported a quarterly profit of $275.0 million for the period ending June 30, 2024. This marks a decrease from the previous quarter's profit of $439.2 million.
The company, headquartered in Fort Lauderdale, Florida, reported to SEC in an 8-K filing $3.20 earnings per share in the quarter, compared to $6.02 in the previous quarter.
AutoNation, a leading player in the automotive retail sector, recorded revenue of $6.5 billion for the current period, showing a decrease compared to the previous quarter's revenue of $6.89 billion.
AutoNation's revenue for the current quarter saw a decrease from the same quarter in the previous year, with revenue totaling $6.5 billion, down from the previous year's revenue of $6.89 billion. Additionally, the company experienced a percentage change in profit for the current quarter compared to the same quarter in the previous year.
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As of August 7, 2024 end of day trading.
Dollars in millions | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 |
|---|
Income Statement |
| Revenue | $6,485.7 | $26,948.9 | $6,892.7 | $6,890.1 |
| Operating Profit | $340.3 | $1,651.9 | $419.5 | $439.2 |
| Net Income | $190.1 | $1,021.1 | $243.7 | $272.5 |
| Net Cash | $4.1 | -$18.4 | -$17.0 | -$10.1 |
| Gross Margin | $1,197.9 | $5,131.5 | $1,294.6 | $1,335.3 |
| Operating Margin | $0.0 | $0.0 | $0.0 | $0.0 |
| Profit as % of Revenues | 630.14 | 19.04 | 531.23 | 19.38 |
| Profit as % of Assets | 2.05 | 9.27 | 2.69 | 2.58 |
| Profit as % of Stockholder Equity | 8.06 | 46.17 | 11.38 | 13.03 |
| Return on Equity | 8.06 | 46.17 | 11.38 | 13.03 |
| Return on Assets | 1.58 | 8.52 | 2.17 | 2.46 |
| Turnover Ratio | 70.01 | 2.45 | 76.02 | 0.65 |
| EBITA | $398.6 | $0.0 | $475.2 | $0.0 |
Balance Sheet |
| Total Assets | $12,041.3 | $11,980.0 | $11,241.0 | $11,079.5 |
| Total Liabilities | $9,681.5 | $9,768.6 | $9,099.0 | $8,987.7 |
Cash Flow Statement |
| Operating Cash Flow | $294.5 | $724.0 | $762.6 | $507.0 |
| Investing Cash Flow | -$69.3 | -$569.9 | -$497.0 | -$487.5 |
| Financing Cash Flow | -$221.1 | -$172.5 | -$282.6 | -$29.6 |
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