FORT LAUDERDALE, Fla.,
July 29, 2016 /PRNewswire/
-- AutoNation, Inc. (NYSE: AN), America's largest
automotive retailer, today reported second quarter 2016 net income
from continuing operations of $112
million, or $1.08 per share,
compared to net income from continuing operations of $115 million, or $1.00 per share, for the same period in the prior
year.
Mike Jackson, Chairman, Chief
Executive Officer and President, said, "We achieved record EPS from
continuing operations. We benefited from our opportunistic capital
allocation strategy, including acquisitions and share repurchase,
and we began to see the results of adjusting our cost structure and
inventory levels to the current industry selling environment. We
remain focused on our strategy to manage costs and reduce our
inventory levels going forward and we will continue to take
advantage of capital allocation opportunities."
Mike Jackson added, "The Takata
airbag recall continues to be disruptive to our business. However,
in the second half of the year we anticipate improvement due to
Takata airbag parts availability and compensation paid by certain
manufacturers that will partially offset our costs."
Acquisitions
In July
2016, AutoNation completed the previously announced
acquisition of four stores, comprised of five franchises, in the
Westchester County, New York area,
representing approximately $190
million in annual revenue. Upon completion of certain
facilities associated with these stores, AutoNation will be awarded
a Land Rover franchise and a Jaguar franchise, which are expected
to generate approximately $100
million in additional annual revenue once fully operational.
AutoNation also completed the acquisition of a Chrysler Jeep store
in the Denver market in
July 2016, representing approximately
$110 million in annual revenue.
Share Repurchase
During the second quarter of 2016,
AutoNation repurchased 1 million shares of common stock for an
aggregate purchase price of $50
million. As of July 28, 2016,
AutoNation has approximately $116
million remaining Board authorization for share repurchase
and 102 million shares outstanding.
Segment Results
Segment results(1) for the
second quarter and first six months of 2016 were as follows:
Second Quarter 2016 Segment Results
- Domestic - Domestic segment income(2)
was $86 million compared to year-ago
segment income of $85 million, an
increase of 1%.
- Import - Import segment income(2) was
$75 million compared to year-ago
segment income of $80 million, a
decrease of 7%.
- Premium Luxury - Premium Luxury segment
income(2) was $93 million
compared to year-ago segment income of $94
million, a decrease of 2%.
First Six Months 2016 Segment Results
- Domestic - Domestic segment income(2)
was $163 million compared to year-ago
segment income of $164 million, a
decrease of 1%.
- Import - Import segment income(2) was
$151 million compared to year-ago
segment income of $155 million, a
decrease of 3%.
- Premium Luxury - Premium Luxury segment
income(2) was $176 million
compared to year-ago segment income of $189
million, a decrease of 7%.
For the six-month period ended June 30,
2016, the Company reported net income from continuing
operations of $208 million, or
$1.97 per share, compared to net
income from continuing operations of $227
million, or $1.97 per share,
for the same period in the prior year. The Company's revenue for
the six-month period ended June 30,
2016, totaled $10.6 billion,
up 4% compared to $10.2 billion for
the same period in the prior year.
The second quarter conference call may be accessed by telephone
at (888) 769-8515 (password: AutoNation) at 11:00 a.m. Eastern Time or on AutoNation's
investor relations website at http://investors.autonation.com.
The webcast will also be available on AutoNation's website under
"Events & Presentations" following the call. A playback of the
conference call will be available after 1:00
p.m. Eastern Time on July 29,
2016, through August 29, 2016
by calling (866) 382-4783 (password 5423).
(1)
|
AutoNation has three
operating segments: Domestic, Import, and Premium Luxury. The
Domestic segment is comprised of stores that sell vehicles
manufactured by General Motors, Ford, and FCA US (formerly
Chrysler); the Import segment is comprised of stores that sell
vehicles manufactured primarily by Toyota, Honda, Nissan, and
Hyundai; and the Premium Luxury segment is comprised of stores that
sell vehicles manufactured primarily by Mercedes-Benz, BMW, Lexus,
and Audi.
|
|
|
(2)
|
Segment income
represents income for each of our reportable segments and is
defined as operating income less floorplan interest
expense.
|
About AutoNation, Inc.
AutoNation is America's largest
automotive retailer, currently owning and operating over 360 new
vehicle franchises from coast to coast. AutoNation sold its 10
millionth vehicle in 2015, the first automotive retailer to reach
this milestone. A commitment to delivering a peerless experience
through customer-focused sales and service processes is what drives
AutoNation's success. AutoNation supports the Breast Cancer
Research Foundation through its Drive Pink Campaign. AutoNation is
transforming the automotive industry through bold leadership,
technology and innovation.
Please visit investors.autonation.com, www.autonation.com,
www.autonationdrive.com, www.twitter.com/autonation,
www.twitter.com/CEOMikeJackson, www.facebook.com/autonation, and
www.facebook.com/CEOMikeJackson, where AutoNation discloses
additional information about the Company, its business, and its
results of operations.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical fact are, or may
be deemed to be, forward-looking statements. Words such as
"anticipates," "expects," "intends," "goals," "plans," "believes,"
"continues," "may," "will," and variations of such words and
similar expressions are intended to identify such forward-looking
statements. Statements regarding our strategic initiatives, open
safety recalls, and expectations for the future performance of our
franchises and the automotive retail industry, as well as
statements that describe our objectives, goals, or plans are
forward-looking statements. Our forward-looking statements reflect
our current expectations concerning future results and events, and
they involve known and unknown risks, uncertainties and other
factors that are difficult to predict and may cause our actual
results, performance or achievements to be materially different
from any future results, performance and achievements expressed or
implied by these statements. These risks, uncertainties and other
factors include, among others: economic conditions, including
conditions in the credit markets and changes in interest rates; new
and used vehicle margins; the success and financial viability and
the incentive and marketing programs of vehicle manufacturers and
distributors with which we hold franchises; our ability to maintain
and enhance our retail brands and reputation and to attract
consumers to our own digital channels; our ability to integrate
successfully acquired and awarded franchises and to attain planned
sales volumes within our expected time frames; restrictions imposed
by vehicle manufacturers and our ability to obtain manufacturer
approval for acquisitions; natural disasters and other adverse
weather events; the resolution of legal and administrative
proceedings; regulatory factors affecting our business, including
fuel economy requirements; the announcement of safety recalls;
factors affecting our goodwill and other intangible asset
impairment testing; and other factors described in our news
releases and filings made under the securities laws, including,
among others, our Annual Reports on Form 10-K, our Quarterly
Reports on Form 10-Q and our Current Reports on Form 8-K.
Forward-looking statements contained in this news release speak
only as of the date of this news release, and we undertake no
obligation to update these forward-looking statements to reflect
subsequent events or circumstances.
AUTONATION,
INC.
|
UNAUDITED CONDENSED
CONSOLIDATED INCOME STATEMENTS
|
(In millions, except
per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended June
30,
|
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
3,071.9
|
$
|
2,967.8
|
$
|
5,872.1
|
$
|
5,737.4
|
|
Used
vehicle
|
|
1,259.4
|
|
1,216.3
|
|
2,501.0
|
|
2,409.5
|
|
Parts and
service
|
|
834.7
|
|
777.8
|
|
1,655.1
|
|
1,521.2
|
|
Finance and
insurance, net
|
|
225.4
|
|
217.7
|
|
448.5
|
|
425.3
|
|
Other
|
|
50.0
|
|
44.7
|
|
84.3
|
|
75.1
|
Total
revenue
|
|
5,441.4
|
|
5,224.3
|
|
10,561.0
|
|
10,168.5
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales:
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
2,909.1
|
|
2,801.7
|
|
5,560.1
|
|
5,409.8
|
|
Used
vehicle
|
|
1,175.4
|
|
1,125.2
|
|
2,326.0
|
|
2,214.7
|
|
Parts and
service
|
|
473.1
|
|
440.6
|
|
938.8
|
|
864.0
|
|
Other
|
|
42.0
|
|
37.7
|
|
68.4
|
|
61.0
|
Total cost of
sales
|
|
4,599.6
|
|
4,405.2
|
|
8,893.3
|
|
8,549.5
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
841.8
|
|
819.1
|
|
1,667.7
|
|
1,619.0
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
585.2
|
|
568.7
|
|
1,173.9
|
|
1,126.3
|
Depreciation and
amortization
|
|
35.9
|
|
32.1
|
|
70.7
|
|
60.8
|
Other income,
net
|
|
(5.8)
|
|
(3.8)
|
|
(10.8)
|
|
(5.1)
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
226.5
|
|
222.1
|
|
433.9
|
|
437.0
|
|
|
|
|
|
|
|
|
|
|
Non-operating income
(expense) items:
|
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
|
(19.3)
|
|
(14.2)
|
|
(38.2)
|
|
(27.4)
|
|
Other interest
expense
|
|
(28.7)
|
|
(21.6)
|
|
(57.0)
|
|
(43.0)
|
|
Interest
income
|
|
0.4
|
|
-
|
|
0.5
|
|
0.1
|
|
Other income,
net
|
|
4.2
|
|
0.5
|
|
0.8
|
|
1.6
|
|
|
|
|
|
|
|
|
|
|
Income from
continuing operations before income taxes
|
|
183.1
|
|
186.8
|
|
340.0
|
|
368.3
|
|
|
|
|
|
|
|
|
|
|
Income tax
provision
|
|
71.0
|
|
71.6
|
|
131.7
|
|
141.4
|
|
|
|
|
|
|
|
|
|
|
Net income from
continuing operations
|
|
112.1
|
|
115.2
|
|
208.3
|
|
226.9
|
|
|
|
|
|
|
|
|
|
|
Loss from
discontinued operations, net of income taxes
|
|
(0.1)
|
|
(0.1)
|
|
(0.4)
|
|
(0.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
112.0
|
$
|
115.1
|
$
|
207.9
|
$
|
226.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings
(loss) per share*:
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
$
|
1.08
|
$
|
1.00
|
$
|
1.97
|
$
|
1.97
|
|
Discontinued
operations
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
1.08
|
$
|
1.00
|
$
|
1.97
|
$
|
1.97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
common shares outstanding
|
|
103.6
|
|
115.1
|
|
105.5
|
|
115.1
|
|
|
|
|
|
|
|
|
|
|
Common shares
outstanding, net of treasury stock, at period end
|
|
102.2
|
|
113.4
|
|
102.2
|
|
113.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Earnings per share
amounts are calculated discretely and therefore may not add up to
the total due to rounding.
|
AUTONATION,
INC.
|
UNAUDITED
SUPPLEMENTARY DATA
|
($ in millions,
except per vehicle data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Highlights
|
|
Three Months Ended
June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
2016
|
|
2015
|
|
$ Variance
|
|
% Variance
|
|
2016
|
|
2015
|
|
$ Variance
|
|
% Variance
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
3,071.9
|
$
|
2,967.8
|
$
|
104.1
|
|
3.5
|
$
|
5,872.1
|
$
|
5,737.4
|
$
|
134.7
|
|
2.3
|
|
|
Retail used
vehicle
|
|
1,122.6
|
|
1,109.1
|
|
13.5
|
|
1.2
|
|
2,242.5
|
|
2,203.2
|
|
39.3
|
|
1.8
|
|
|
Wholesale
|
|
136.8
|
|
107.2
|
|
29.6
|
|
27.6
|
|
258.5
|
|
206.3
|
|
52.2
|
|
25.3
|
|
|
Used
vehicle
|
|
1,259.4
|
|
1,216.3
|
|
43.1
|
|
3.5
|
|
2,501.0
|
|
2,409.5
|
|
91.5
|
|
3.8
|
|
|
Finance and
insurance, net
|
|
225.4
|
|
217.7
|
|
7.7
|
|
3.5
|
|
448.5
|
|
425.3
|
|
23.2
|
|
5.5
|
|
Total variable
operations
|
|
4,556.7
|
|
4,401.8
|
|
154.9
|
|
3.5
|
|
8,821.6
|
|
8,572.2
|
|
249.4
|
|
2.9
|
|
Parts and
service
|
|
834.7
|
|
777.8
|
|
56.9
|
|
7.3
|
|
1,655.1
|
|
1,521.2
|
|
133.9
|
|
8.8
|
|
Other
|
|
50.0
|
|
44.7
|
|
5.3
|
|
|
|
84.3
|
|
75.1
|
|
9.2
|
|
|
Total
revenue
|
$
|
5,441.4
|
$
|
5,224.3
|
$
|
217.1
|
|
4.2
|
$
|
10,561.0
|
$
|
10,168.5
|
$
|
392.5
|
|
3.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
162.8
|
$
|
166.1
|
$
|
(3.3)
|
|
(2.0)
|
$
|
312.0
|
$
|
327.6
|
$
|
(15.6)
|
|
(4.8)
|
|
|
Retail used
vehicle
|
|
86.7
|
|
91.4
|
|
(4.7)
|
|
(5.1)
|
|
180.4
|
|
193.9
|
|
(13.5)
|
|
(7.0)
|
|
|
Wholesale
|
|
(2.7)
|
|
(0.3)
|
|
(2.4)
|
|
|
|
(5.4)
|
|
0.9
|
|
(6.3)
|
|
|
|
|
Used
vehicle
|
|
84.0
|
|
91.1
|
|
(7.1)
|
|
(7.8)
|
|
175.0
|
|
194.8
|
|
(19.8)
|
|
(10.2)
|
|
|
Finance and
insurance
|
|
225.4
|
|
217.7
|
|
7.7
|
|
3.5
|
|
448.5
|
|
425.3
|
|
23.2
|
|
5.5
|
|
Total variable
operations
|
|
472.2
|
|
474.9
|
|
(2.7)
|
|
(0.6)
|
|
935.5
|
|
947.7
|
|
(12.2)
|
|
(1.3)
|
|
Parts and
service
|
|
361.6
|
|
337.2
|
|
24.4
|
|
7.2
|
|
716.3
|
|
657.2
|
|
59.1
|
|
9.0
|
|
Other
|
|
8.0
|
|
7.0
|
|
1.0
|
|
|
|
15.9
|
|
14.1
|
|
1.8
|
|
|
Total gross
profit
|
|
841.8
|
|
819.1
|
|
22.7
|
|
2.8
|
|
1,667.7
|
|
1,619.0
|
|
48.7
|
|
3.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
585.2
|
|
568.7
|
|
(16.5)
|
|
(2.9)
|
|
1,173.9
|
|
1,126.3
|
|
(47.6)
|
|
(4.2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
35.9
|
|
32.1
|
|
(3.8)
|
|
|
|
70.7
|
|
60.8
|
|
(9.9)
|
|
|
Other income,
net
|
|
(5.8)
|
|
(3.8)
|
|
2.0
|
|
|
|
(10.8)
|
|
(5.1)
|
|
5.7
|
|
|
Operating
income
|
|
226.5
|
|
222.1
|
|
4.4
|
|
2.0
|
|
433.9
|
|
437.0
|
|
(3.1)
|
|
(0.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-operating income
(expense) items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
|
(19.3)
|
|
(14.2)
|
|
(5.1)
|
|
|
|
(38.2)
|
|
(27.4)
|
|
(10.8)
|
|
|
|
|
Other interest
expense
|
|
(28.7)
|
|
(21.6)
|
|
(7.1)
|
|
|
|
(57.0)
|
|
(43.0)
|
|
(14.0)
|
|
|
|
|
Interest
income
|
|
0.4
|
|
-
|
|
0.4
|
|
|
|
0.5
|
|
0.1
|
|
0.4
|
|
|
|
|
Other income,
net
|
|
4.2
|
|
0.5
|
|
3.7
|
|
|
|
0.8
|
|
1.6
|
|
(0.8)
|
|
|
Income from
continuing operations before income taxes
|
$
|
183.1
|
$
|
186.8
|
$
|
(3.7)
|
|
(2.0)
|
$
|
340.0
|
$
|
368.3
|
$
|
(28.3)
|
|
(7.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle unit
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
85,654
|
|
85,245
|
|
409
|
|
0.5
|
|
164,678
|
|
163,805
|
|
873
|
|
0.5
|
|
|
Used
|
|
56,637
|
|
57,370
|
|
(733)
|
|
(1.3)
|
|
114,740
|
|
115,994
|
|
(1,254)
|
|
(1.1)
|
|
|
|
|
142,291
|
|
142,615
|
|
(324)
|
|
(0.2)
|
|
279,418
|
|
279,799
|
|
(381)
|
|
(0.1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per vehicle
retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
|
35,864
|
$
|
34,815
|
$
|
1,049
|
|
3.0
|
$
|
35,658
|
$
|
35,026
|
$
|
632
|
|
1.8
|
|
|
Used
|
$
|
19,821
|
$
|
19,332
|
$
|
489
|
|
2.5
|
$
|
19,544
|
$
|
18,994
|
$
|
550
|
|
2.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit per
vehicle retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
|
1,901
|
$
|
1,949
|
$
|
(48)
|
|
(2.5)
|
$
|
1,895
|
$
|
2,000
|
$
|
(105)
|
|
(5.3)
|
|
|
Used
|
$
|
1,531
|
$
|
1,593
|
$
|
(62)
|
|
(3.9)
|
$
|
1,572
|
$
|
1,672
|
$
|
(100)
|
|
(6.0)
|
|
|
Finance and
insurance
|
$
|
1,584
|
$
|
1,526
|
$
|
58
|
|
3.8
|
$
|
1,605
|
$
|
1,520
|
$
|
85
|
|
5.6
|
|
|
Total variable
operations(1)
|
$
|
3,338
|
$
|
3,332
|
$
|
6
|
|
0.2
|
$
|
3,367
|
$
|
3,384
|
$
|
(17)
|
|
(0.5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Percentages
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 (%)
|
|
2015 (%)
|
|
2016 (%)
|
|
2015 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
56.5
|
|
56.8
|
|
55.6
|
|
56.4
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
23.1
|
|
23.3
|
|
23.7
|
|
23.7
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
15.3
|
|
14.9
|
|
15.7
|
|
15.0
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance, net
|
|
4.1
|
|
4.2
|
|
4.2
|
|
4.2
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
1.0
|
|
0.8
|
|
0.8
|
|
0.7
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
19.3
|
|
20.3
|
|
18.7
|
|
20.2
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
10.0
|
|
11.1
|
|
10.5
|
|
12.0
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
43.0
|
|
41.2
|
|
43.0
|
|
40.6
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance
|
|
26.8
|
|
26.6
|
|
26.9
|
|
26.3
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.9
|
|
0.8
|
|
0.9
|
|
0.9
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
5.3
|
|
5.6
|
|
5.3
|
|
5.7
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle - retail
|
|
7.7
|
|
8.2
|
|
8.0
|
|
8.8
|
|
|
|
|
|
|
|
|
|
|
Parts
and service
|
|
43.3
|
|
43.4
|
|
43.3
|
|
43.2
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
15.5
|
|
15.7
|
|
15.8
|
|
15.9
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
10.8
|
|
10.9
|
|
11.1
|
|
11.1
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
4.2
|
|
4.3
|
|
4.1
|
|
4.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of total gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
69.5
|
|
69.4
|
|
70.4
|
|
69.6
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
26.9
|
|
27.1
|
|
26.0
|
|
27.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Total variable
operations gross profit per vehicle retailed is calculated by
dividing the sum of new vehicle, retail used vehicle, and finance
and insurance gross profit by total retail vehicle unit
sales.
|
|
|
|
|
|
|
|
|
AUTONATION,
INC.
|
UNAUDITED
SUPPLEMENTARY DATA
|
($ in
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Operating
Highlights
|
|
Three Months Ended
June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
2016
|
|
2015
|
|
$ Variance
|
|
% Variance
|
|
2016
|
|
2015
|
|
$ Variance
|
|
% Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
$
|
1,995.1
|
$
|
1,764.2
|
$
|
230.9
|
|
13.1
|
$
|
3,843.3
|
$
|
3,429.9
|
$
|
413.4
|
|
12.1
|
|
Import
|
|
1,748.1
|
|
1,795.0
|
|
(46.9)
|
|
(2.6)
|
|
3,423.1
|
|
3,473.7
|
|
(50.6)
|
|
(1.5)
|
|
Premium
luxury
|
|
1,644.7
|
|
1,633.0
|
|
11.7
|
|
0.7
|
|
3,185.0
|
|
3,196.2
|
|
(11.2)
|
|
(0.4)
|
|
Total
|
|
5,387.9
|
|
5,192.2
|
|
195.7
|
|
3.8
|
|
10,451.4
|
|
10,099.8
|
|
351.6
|
|
3.5
|
|
Corporate and
other
|
|
53.5
|
|
32.1
|
|
21.4
|
|
66.7
|
|
109.6
|
|
68.7
|
|
40.9
|
|
59.5
|
|
Total consolidated revenue
|
$
|
5,441.4
|
$
|
5,224.3
|
$
|
217.1
|
|
4.2
|
|
10,561.0
|
$
|
10,168.5
|
$
|
392.5
|
|
3.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment
income*:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
$
|
85.6
|
$
|
84.9
|
$
|
0.7
|
|
0.8
|
$
|
163.0
|
$
|
164.2
|
$
|
(1.2)
|
|
(0.7)
|
|
Import
|
|
74.6
|
|
80.1
|
|
(5.5)
|
|
(6.9)
|
|
150.7
|
|
155.1
|
|
(4.4)
|
|
(2.8)
|
|
Premium
luxury
|
|
92.9
|
|
94.4
|
|
(1.5)
|
|
(1.6)
|
|
175.9
|
|
188.5
|
|
(12.6)
|
|
(6.7)
|
|
Total
|
|
253.1
|
|
259.4
|
|
(6.3)
|
|
(2.4)
|
|
489.6
|
|
507.8
|
|
(18.2)
|
|
(3.6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
other
|
|
(45.9)
|
|
(51.5)
|
|
5.6
|
|
|
|
(93.9)
|
|
(98.2)
|
|
4.3
|
|
|
Add: Floorplan
interest expense
|
|
19.3
|
|
14.2
|
|
5.1
|
|
|
|
38.2
|
|
27.4
|
|
10.8
|
|
|
Operating
income
|
$
|
226.5
|
$
|
222.1
|
$
|
4.4
|
|
2.0
|
$
|
433.9
|
$
|
437.0
|
$
|
(3.1)
|
|
(0.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Segment income
represents income for each of our reportable segments and is
defined as operating income less floorplan interest
expense.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicle
unit sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
30,654
|
|
27,871
|
|
2,783
|
|
10.0
|
|
58,407
|
|
53,621
|
|
4,786
|
|
8.9
|
|
Import
|
|
38,346
|
|
40,279
|
|
(1,933)
|
|
(4.8)
|
|
74,127
|
|
77,193
|
|
(3,066)
|
|
(4.0)
|
|
Premium
luxury
|
|
16,654
|
|
17,095
|
|
(441)
|
|
(2.6)
|
|
32,144
|
|
32,991
|
|
(847)
|
|
(2.6)
|
|
|
|
85,654
|
|
85,245
|
|
409
|
|
0.5
|
|
164,678
|
|
163,805
|
|
873
|
|
0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brand Mix - New
Vehicle Retail Units Sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
|
|
|
|
|
|
|
2016 (%)
|
|
2015 (%)
|
|
2016 (%)
|
|
2015 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ford,
Lincoln
|
|
14.9
|
|
15.8
|
|
15.0
|
|
16.1
|
|
|
|
|
|
|
|
|
|
Chevrolet, Buick, Cadillac, GMC
|
|
11.1
|
|
10.2
|
|
11.2
|
|
10.0
|
|
|
|
|
|
|
|
|
|
Chrysler, Dodge, Jeep, Ram
|
|
9.8
|
|
6.7
|
|
9.3
|
|
6.6
|
|
|
|
|
|
|
|
|
|
Domestic total
|
|
35.8
|
|
32.7
|
|
35.5
|
|
32.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Import:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Toyota
|
|
17.4
|
|
19.3
|
|
17.4
|
|
19.0
|
|
|
|
|
|
|
|
|
|
Honda
|
|
13.1
|
|
11.3
|
|
12.6
|
|
11.1
|
|
|
|
|
|
|
|
|
|
Nissan
|
|
7.7
|
|
9.8
|
|
8.4
|
|
9.9
|
|
|
|
|
|
|
|
|
|
Other
Import
|
|
6.6
|
|
6.8
|
|
6.6
|
|
7.2
|
|
|
|
|
|
|
|
|
|
Import total
|
|
44.8
|
|
47.2
|
|
45.0
|
|
47.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premium
Luxury:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mercedes-Benz
|
|
8.4
|
|
8.4
|
|
8.3
|
|
8.2
|
|
|
|
|
|
|
|
|
|
BMW
|
|
4.1
|
|
4.5
|
|
4.2
|
|
4.7
|
|
|
|
|
|
|
|
|
|
Lexus
|
|
2.5
|
|
2.7
|
|
2.7
|
|
2.9
|
|
|
|
|
|
|
|
|
|
Audi
|
|
2.3
|
|
2.1
|
|
2.2
|
|
2.0
|
|
|
|
|
|
|
|
|
|
Other
Premium Luxury (Land Rover, Porsche)
|
|
2.1
|
|
2.4
|
|
2.1
|
|
2.3
|
|
|
|
|
|
|
|
|
|
Premium Luxury
total
|
|
19.4
|
|
20.1
|
|
19.5
|
|
20.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
AUTONATION,
INC
|
UNAUDITED
SUPPLEMENTARY DATA, Continued
|
($ in
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
Expenditures / Stock Repurchases
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
(1)
|
$
|
61.7
|
$
|
71.2
|
$
|
112.4
|
$
|
134.1
|
|
|
|
|
|
Cash paid for
acquisitions, net of cash acquired (2)
|
$
|
6.3
|
$
|
45.4
|
$
|
262.9
|
$
|
73.1
|
|
|
|
|
|
Proceeds from
exercises of stock options
|
$
|
2.6
|
$
|
6.3
|
$
|
3.2
|
$
|
18.8
|
|
|
|
|
|
Stock
repurchases:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate purchase
price
|
$
|
50.0
|
$
|
50.0
|
$
|
420.6
|
$
|
59.1
|
|
|
|
|
|
|
Shares repurchased
(in millions)
|
|
1.0
|
|
0.8
|
|
8.9
|
|
0.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan
Assistance and Expense
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
2016
|
|
2015
|
|
Variance
|
|
2016
|
|
2015
|
|
Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan assistance
earned (included in cost of sales)
|
$
|
31.2
|
$
|
29.4
|
$
|
1.8
|
$
|
60.5
|
$
|
56.1
|
$
|
4.4
|
|
New vehicle floorplan
interest expense
|
|
(18.0)
|
|
(13.4)
|
|
(4.6)
|
|
(35.9)
|
|
(25.8)
|
|
(10.1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net new vehicle
inventory carrying benefit
|
$
|
13.2
|
$
|
16.0
|
$
|
(2.8)
|
$
|
24.6
|
$
|
30.3
|
$
|
(5.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet and
Other Highlights
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
2016
|
|
December 31,
2015
|
|
June 30,
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
54.7
|
$
|
74.1
|
$
|
65.3
|
|
|
|
|
|
|
|
Inventory
|
$
|
3,661.4
|
$
|
3,612.0
|
$
|
3,230.7
|
|
|
|
|
|
|
|
Total floorplan notes
payable
|
$
|
3,802.8
|
$
|
3,727.1
|
$
|
3,321.4
|
|
|
|
|
|
|
|
Non-vehicle debt
(3)
|
$
|
2,708.1
|
$
|
2,356.5
|
$
|
2,124.3
|
|
|
|
|
|
|
|
Equity
|
$
|
2,158.2
|
$
|
2,349.3
|
$
|
2,285.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New days supply
(industry standard of selling days)
|
|
73
days
|
|
68
days
|
|
63
days
|
|
|
|
|
|
|
|
Used days supply
(trailing calendar month days)
|
|
44
days
|
|
43
days
|
|
36
days
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key Credit
Agreement Covenant Compliance
Calculations(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Leverage
ratio
|
|
|
|
2.65x
|
|
|
|
|
|
|
|
|
|
Covenant
|
less than or equal
to
|
|
3.75x
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capitalization
ratio
|
|
|
|
63.8%
|
|
|
|
|
|
|
|
|
|
Covenant
|
less than or equal
to
|
|
70.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Includes accrued
construction in progress and excludes property associated with
capital leases entered into during the period.
|
|
|
|
|
|
|
|
|
|
(2)
|
Excludes capital
leases and deferred purchase price commitments.
|
|
|
|
|
|
|
|
|
|
(3)
|
Pursuant to an
accounting standard update effective January 1, 2016, all debt
issuance costs have been reclassified, with the exception of those
related to our revolving credit facility, as a direct reduction
from the carrying amount of the related debt liability for both
current and prior periods.
|
|
|
|
|
|
|
|
|
|
(4)
|
Calculated in
accordance with our credit agreement as filed with the
SEC.
|
|
|
|
|
|
|
|
|
AUTONATION,
INC.
|
UNAUDITED SAME
STORE DATA
|
($ in millions,
except per vehicle data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Highlights
|
|
Three Months Ended
June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
2016
|
|
2015
|
|
$ Variance
|
|
% Variance
|
|
2016
|
|
2015
|
|
$ Variance
|
|
% Variance
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
2,857.7
|
$
|
2,906.6
|
$
|
(48.9)
|
|
(1.7)
|
$
|
5,458.1
|
$
|
5,615.0
|
$
|
(156.9)
|
|
(2.8)
|
|
|
Retail used
vehicle
|
|
1,042.3
|
|
1,080.1
|
|
(37.8)
|
|
(3.5)
|
|
2,073.3
|
|
2,145.5
|
|
(72.2)
|
|
(3.4)
|
|
|
Wholesale
|
|
126.5
|
|
105.3
|
|
21.2
|
|
20.1
|
|
243.0
|
|
202.0
|
|
41.0
|
|
20.3
|
|
|
Used
vehicle
|
|
1,168.8
|
|
1,185.4
|
|
(16.6)
|
|
(1.4)
|
|
2,316.3
|
|
2,347.5
|
|
(31.2)
|
|
(1.3)
|
|
|
Finance and
insurance, net
|
|
211.0
|
|
213.1
|
|
(2.1)
|
|
(1.0)
|
|
420.4
|
|
416.2
|
|
4.2
|
|
1.0
|
|
Total variable
operations
|
|
4,237.5
|
|
4,305.1
|
|
(67.6)
|
|
(1.6)
|
|
8,194.8
|
|
8,378.7
|
|
(183.9)
|
|
(2.2)
|
|
Parts and
service
|
|
773.3
|
|
756.8
|
|
16.5
|
|
2.2
|
|
1,530.6
|
|
1,479.9
|
|
50.7
|
|
3.4
|
|
Other
|
|
50.0
|
|
44.5
|
|
5.5
|
|
|
|
84.0
|
|
74.9
|
|
9.1
|
|
|
Total
revenue
|
$
|
5,060.8
|
$
|
5,106.4
|
$
|
(45.6)
|
|
(0.9)
|
$
|
9,809.4
|
$
|
9,933.5
|
$
|
(124.1)
|
|
(1.2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
152.7
|
$
|
163.5
|
$
|
(10.8)
|
|
(6.6)
|
$
|
292.3
|
$
|
322.2
|
$
|
(29.9)
|
|
(9.3)
|
|
|
Retail used
vehicle
|
|
80.9
|
|
94.4
|
|
(13.5)
|
|
(14.3)
|
|
168.1
|
|
190.4
|
|
(22.3)
|
|
(11.7)
|
|
|
Wholesale
|
|
(2.3)
|
|
(5.2)
|
|
2.9
|
|
|
|
(4.8)
|
|
-
|
|
(4.8)
|
|
|
|
|
Used
vehicle
|
|
78.6
|
|
89.2
|
|
(10.6)
|
|
(11.9)
|
|
163.3
|
|
190.4
|
|
(27.1)
|
|
(14.2)
|
|
|
Finance and
insurance
|
|
211.0
|
|
213.1
|
|
(2.1)
|
|
(1.0)
|
|
420.4
|
|
416.2
|
|
4.2
|
|
1.0
|
|
Total variable
operations
|
|
442.3
|
|
465.8
|
|
(23.5)
|
|
(5.0)
|
|
876.0
|
|
928.8
|
|
(52.8)
|
|
(5.7)
|
|
Parts and
service
|
|
337.0
|
|
327.9
|
|
9.1
|
|
2.8
|
|
665.2
|
|
639.1
|
|
26.1
|
|
4.1
|
|
Other
|
|
7.5
|
|
6.7
|
|
0.8
|
|
|
|
14.5
|
|
13.9
|
|
0.6
|
|
|
Total gross
profit
|
$
|
786.8
|
$
|
800.4
|
$
|
(13.6)
|
|
(1.7)
|
$
|
1,555.7
|
$
|
1,581.8
|
$
|
(26.1)
|
|
(1.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle unit
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
79,420
|
|
83,178
|
|
(3,758)
|
|
(4.5)
|
|
152,617
|
|
159,659
|
|
(7,042)
|
|
(4.4)
|
|
|
Used
|
|
52,275
|
|
55,599
|
|
(3,324)
|
|
(6.0)
|
|
105,463
|
|
112,377
|
|
(6,914)
|
|
(6.2)
|
|
|
|
|
131,695
|
|
138,777
|
|
(7,082)
|
|
(5.1)
|
|
258,080
|
|
272,036
|
|
(13,956)
|
|
(5.1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per vehicle
retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
|
35,982
|
$
|
34,944
|
$
|
1,038
|
|
3.0
|
$
|
35,763
|
$
|
35,169
|
$
|
594
|
|
1.7
|
|
|
Used
|
$
|
19,939
|
$
|
19,427
|
$
|
512
|
|
2.6
|
$
|
19,659
|
$
|
19,092
|
$
|
567
|
|
3.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit per
vehicle retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
|
1,923
|
$
|
1,966
|
$
|
(43)
|
|
(2.2)
|
$
|
1,915
|
$
|
2,018
|
$
|
(103)
|
|
(5.1)
|
|
|
Used
|
$
|
1,548
|
$
|
1,698
|
$
|
(150)
|
|
(8.8)
|
$
|
1,594
|
$
|
1,694
|
$
|
(100)
|
|
(5.9)
|
|
|
Finance and
insurance
|
$
|
1,602
|
$
|
1,536
|
$
|
66
|
|
4.3
|
$
|
1,629
|
$
|
1,530
|
$
|
99
|
|
6.5
|
|
|
Total variable
operations(1)
|
$
|
3,376
|
$
|
3,394
|
$
|
(18)
|
|
(0.5)
|
$
|
3,413
|
$
|
3,414
|
$
|
(1)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Percentages
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 (%)
|
|
2015 (%)
|
|
2016 (%)
|
|
2015 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
56.5
|
|
56.9
|
|
55.6
|
|
56.5
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
23.1
|
|
23.2
|
|
23.6
|
|
23.6
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
15.3
|
|
14.8
|
|
15.6
|
|
14.9
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance, net
|
|
4.2
|
|
4.2
|
|
4.3
|
|
4.2
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.9
|
|
0.9
|
|
0.9
|
|
0.8
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
19.4
|
|
20.4
|
|
18.8
|
|
20.4
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
10.0
|
|
11.1
|
|
10.5
|
|
12.0
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
42.8
|
|
41.0
|
|
42.8
|
|
40.4
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance
|
|
26.8
|
|
26.6
|
|
27.0
|
|
26.3
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
1.0
|
|
0.9
|
|
0.9
|
|
0.9
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
5.3
|
|
5.6
|
|
5.4
|
|
5.7
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle - retail
|
|
7.8
|
|
8.7
|
|
8.1
|
|
8.9
|
|
|
|
|
|
|
|
|
|
|
Parts
and service
|
|
43.6
|
|
43.3
|
|
43.5
|
|
43.2
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
15.5
|
|
15.7
|
|
15.9
|
|
15.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Total variable
operations gross profit per vehicle retailed is calculated by
dividing the sum of new vehicle, retail used vehicle, and finance
and insurance gross profit by total retail vehicle unit
sales.
|
|
|
|
|
|
|
|
|
Logo - http://photos.prnewswire.com/prnh/20151110/286019LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/autonation-reports-all-time-record-quarterly-eps-from-continuing-operations-300306029.html
SOURCE AutoNation, Inc.