ADVFN - Advanced Financial Network.
HOME» NYSE » A » AN Stock Price » AN Stock News

Autonation Share News

 Autonation, Inc. Stock Price
AN Stock Price
 Autonation, Inc. Stock Chart
AN Stock Chart
 Autonation, Inc. Stock News
AN Stock News
 Autonation, Inc. Company Information
AN Company Information
 Autonation, Inc. Stock Trades
AN Stock Trades

Penske 2Q Profit Up 34% On Higher Used, Luxury Car Sales

DOW JONES NEWSWIRES Penske Automotive Group Inc.'s (PAG) second-quarter profit rose a better-than-expected 34% as higher sales of used and luxury cars helped offset supply-chain disruptions caused by the earthquake in Japan. The automotive sector has been mostly on the mend over the past few months, which has helped sales at Penske and prompted a number of acquisitions. Moody's Investors Service earlier this month upgraded the company's speculative-grade rating a notch, citing the auto dealer's improving performance amid a rebound in new car sales. "Although we faced a challenging inventory situation as a result of the Japan earthquake, our business model continued to prove its resiliency," Chairman Roger Penske said, adding higher sales of used and luxury vehicles helped boost margins despite an overall drop in new units sold. Penske, the second-biggest auto dealership in the U.S. by revenue behind AutoNation Inc. (AN), posted a profit of $39.6 million, or 43 cents a share, up from $29.4 million, or 32 cents a share, a year earlier. Revenue rose 11% to $2.89 billion. Analysts polled by Thomson Reuters expected a 38-cent per-share profit on revenue of $2.98 billion. Gross margin edged up to 16.1% from 15.9% amid higher average transaction prices. New-vehicle revenue, the company's biggest top-line contributor, rose 8.2%, while used-vehicle sales jumped 20%. Service and parts revenue increased 7.5%, or 6% on a same-store basis. Penske's shares closed at $23.40 Wednesday and were inactive premarket. The stock has gained 92% over the past year. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Autonation (AN)
DateTimeHeadline
03/17/201717:06:34Statement of Changes in Beneficial Ownership (4)
03/15/201718:55:25Statement of Changes in Beneficial Ownership (4)
03/10/201718:16:40Statement of Changes in Beneficial Ownership (4)
03/08/201706:01:44Current Report Filing (8-k)
03/07/201718:55:00AutoNation Announces Retirement of Jon Ferrando, Executive Vice...
03/06/201716:36:16Securities Registration: Employee Benefit Plan (s-8)
03/06/201706:02:16Additional Proxy Soliciting Materials (definitive) (defa14a)
03/06/201706:02:14Proxy Statement (definitive) (def 14a)
03/03/201717:06:17Statement of Changes in Beneficial Ownership (4)
02/13/201716:40:19Amended Statement of Ownership (sc 13g/a)
02/09/201717:17:32Statement of Changes in Beneficial Ownership (4)
02/09/201715:36:50Amended Statement of Ownership (sc 13g/a)
02/09/201706:03:54Annual Report (10-k)
02/08/201718:40:53Statement of Changes in Beneficial Ownership (4)
02/03/201707:10:32Current Report Filing (8-k)
02/03/201707:02:00AutoNation Reports All-Time Record Quarterly and All-Time Record...
02/01/201717:21:42Current Report Filing (8-k)
02/01/201714:30:00William "Bill" Berman Named President of AutoNation
01/13/201707:30:00AutoNation Announces Fourth Quarter and Full Year 2016 Earnings...
01/05/201717:47:19Statement of Changes in Beneficial Ownership (4)

Autonation and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US