FORT LAUDERDALE, Fla.,
July 22, 2015 /PRNewswire/ --
AutoNation, Inc. (NYSE: AN), America's largest automotive
retailer, today reported 2015 second quarter net income from
continuing operations of $115
million, a record for second quarter results, or
$1.00 per share, compared to net
income from continuing operations of $101
million, or $0.83 per share,
for the same period in the prior year, a 20% improvement on a
per-share basis.
Second quarter 2015 revenue totaled $5.2
billion, compared to $4.8
billion in the year-ago period, an increase of 9%, driven by
stronger performance in all business sectors - new vehicles, used
vehicles, parts and service, and finance and insurance. In the
second quarter of 2015, AutoNation's retail new vehicle unit sales
increased 6% overall and 4% on a same store basis, while retail
used vehicle unit sales increased 9% overall and 7% on a same store
basis.
Mike Jackson, Chairman, Chief
Executive Officer and President said, "AutoNation delivered its
19th consecutive quarter of double-digit year-over-year growth in
EPS. We reconfirm our expectation of U.S. industry new vehicle unit
sales to be above 17 million units in 2015."
Mr. Jackson also said, "We are pleased with how the AutoNation
brand has been embraced, as well as the continued rollout of
AutoNation Express and the progress of all our digital initiatives.
Over 20% of our sales were generated through AutoNation websites
for the first half of the year. The first phase of AutoNation
Express, where a consumer can identify a vehicle, reserve that
vehicle and put a deposit on that vehicle, was completed six months
ahead of schedule. AutoNation is committed to providing
transparency and delivering a peerless customer experience through
initiatives such as AutoNation Express."
Commercial Paper
In May 2015, AutoNation
established a new financing program pursuant to which it may issue
unsecured commercial paper notes on a private placement basis up to
a maximum aggregate amount outstanding at any time of $300.0 million. At June
30, 2015, AutoNation had $298.5
million of commercial paper notes outstanding.
Share Repurchase
During the second quarter of 2015, AutoNation repurchased 0.8
million shares of common stock for an aggregate purchase price of
$50 million. As of July 20, 2015, AutoNation has approximately
$217 million remaining Board
authorization for share repurchase and 113 million shares
outstanding.
Segment Results
Segment results(1) for the second quarter of 2015
were as follows:
- Domestic - Domestic segment income(2)
was $85 million compared to year-ago
segment income of $71 million, an
increase of 20%.
- Import - Import segment income(2) was
$80 million compared to year-ago
segment income of
$78 million, an increase
of 3%.
- Premium Luxury - Premium Luxury segment
income(2) was $94 million
compared to year-ago segment income of $86
million, an increase of 10%.
For the six-month period ended June 30,
2015, the Company reported net income from continuing
operations of $227 million, or
$1.97 per share, compared to adjusted
net income from continuing operations of $191 million, or $1.58 per share, for the same period in the prior
year, an improvement of 25% on a per-share basis. On a GAAP basis,
net income from continuing operations for the six-month period
ended June 30, 2014 was $196 million, or $1.62 per share. Reconciliations of non-GAAP
financial measures are included in the attached financial tables.
The Company's revenue for the six-month period ended June 30, 2015, totaled $10.2 billion, up 11% compared to $9.2 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 today 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 22, 2015, through August 6, 2015 by calling (800) 568-3942
(password 75300).
|
|
|
(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
transforming the automotive retail industry through bold
leadership. We deliver a peerless automotive retail experience
through our customer-focused sales and service processes. Owning
and operating 293 new vehicle franchises, which sell 35 new vehicle
brands across 15 states, AutoNation is America's largest automotive
retailer, with state-of-the-art operations and the ability to
leverage economies of scale that benefit the customer. As an
indication of our leadership position in our industry, AutoNation
is a component of the S&P 500 Index.
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 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: our ability to integrate
successfully acquired and awarded franchises and to attain planned
sales volumes within our expected time frames; economic conditions,
including conditions in the credit markets and changes in interest
rates; our ability to maintain and enhance our retail brands and
reputation and to attract consumers to our own digital channels;
the success and financial viability and the incentive and marketing
programs of vehicle manufacturers and distributors with which we
hold franchises; natural disasters and other adverse weather
events; restrictions imposed by vehicle manufacturers; the
resolution of legal and administrative proceedings; regulatory
factors affecting our business, including fuel economy
requirements; 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.
NON-GAAP FINANCIAL MEASURES
This press release and the attached financial tables contain
certain non-GAAP financial measures as defined under SEC rules,
such as adjusted net income and earnings per share from continuing
operations, which exclude certain items disclosed in the attached
financial tables. As required by SEC rules, the Company provides
reconciliations of these measures to the most directly comparable
GAAP measures. The Company believes that these non-GAAP financial
measures improve the transparency of the Company's disclosure,
provide a meaningful presentation of the Company's results from its
core business operations excluding the impact of items not related
to the Company's ongoing core business operations, and improve the
period-to-period comparability of the Company's results from its
core business operations.
|
AUTONATION,
INC.
|
|
UNAUDITED CONDENSED
CONSOLIDATED INCOME STATEMENTS
|
|
(In millions, except
per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended June
30,
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
$
2,967.8
|
|
$
2,736.9
|
|
$
5,737.4
|
|
$
5,165.5
|
|
Used
vehicle
|
|
1,216.3
|
|
1,082.3
|
|
2,409.5
|
|
2,132.0
|
|
Parts and
service
|
|
777.8
|
|
704.8
|
|
1,521.2
|
|
1,375.8
|
|
Finance and
insurance, net
|
|
217.7
|
|
185.4
|
|
425.3
|
|
357.8
|
|
Other
|
|
44.7
|
|
79.1
|
|
75.1
|
|
120.9
|
|
Total
revenue
|
|
5,224.3
|
|
4,788.5
|
|
10,168.5
|
|
9,152.0
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales:
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
2,801.7
|
|
2,575.3
|
|
5,409.8
|
|
4,858.0
|
|
Used
vehicle
|
|
1,125.2
|
|
993.0
|
|
2,214.7
|
|
1,948.4
|
|
Parts and
service
|
|
440.6
|
|
404.0
|
|
864.0
|
|
788.3
|
|
Other
|
|
37.7
|
|
71.3
|
|
61.0
|
|
105.0
|
|
Total cost of
sales
|
|
4,405.2
|
|
4,043.6
|
|
8,549.5
|
|
7,699.7
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
819.1
|
|
744.9
|
|
1,619.0
|
|
1,452.3
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
568.7
|
|
524.6
|
|
1,126.3
|
|
1,025.3
|
|
Depreciation and
amortization
|
|
32.1
|
|
26.2
|
|
60.8
|
|
51.8
|
|
Other income,
net
|
|
(3.8)
|
|
(3.7)
|
|
(5.1)
|
|
(11.7)
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
222.1
|
|
197.8
|
|
437.0
|
|
386.9
|
|
|
|
|
|
|
|
|
|
|
|
Non-operating income
(expense) items:
|
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
|
(14.2)
|
|
(13.3)
|
|
(27.4)
|
|
(26.5)
|
|
Other interest
expense
|
|
(21.6)
|
|
(21.3)
|
|
(43.0)
|
|
(42.9)
|
|
Interest
income
|
|
-
|
|
0.1
|
|
0.1
|
|
0.1
|
|
Other income,
net
|
|
0.5
|
|
0.9
|
|
1.6
|
|
2.4
|
|
|
|
|
|
|
|
|
|
|
|
Income from
continuing operations before income taxes
|
|
186.8
|
|
164.2
|
|
368.3
|
|
320.0
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
provision
|
|
71.6
|
|
63.5
|
|
141.4
|
|
123.8
|
|
|
|
|
|
|
|
|
|
|
|
Net income from
continuing operations
|
|
115.2
|
|
100.7
|
|
226.9
|
|
196.2
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
discontinued operations, net of income taxes
|
|
(0.1)
|
|
(0.3)
|
|
(0.3)
|
|
(0.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
115.1
|
|
$
100.4
|
|
$
226.6
|
|
$
195.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings
(loss) per share*:
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
|
$
1.00
|
|
$
0.83
|
|
$
1.97
|
|
$
1.62
|
|
Discontinued
operations
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
1.00
|
|
$
0.83
|
|
$
1.97
|
|
$
1.61
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
common shares outstanding
|
|
115.1
|
|
120.8
|
|
115.1
|
|
121.1
|
|
|
|
|
|
|
|
|
|
|
|
Common shares
outstanding, net of treasury stock, at period end
|
|
113.4
|
|
118.5
|
|
113.4
|
|
118.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Earnings per share
amounts are calculated discretely and therefore may not add up to
the total.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUTONATION,
INC.
|
|
UNAUDITED
SUPPLEMENTARY DATA
|
|
($ in millions,
except per vehicle data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Highlights
|
|
Three Months Ended
June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
$
2,967.8
|
|
$
2,736.9
|
|
$
230.9
|
|
8.4
|
|
$
5,737.4
|
|
$
5,165.5
|
|
$
571.9
|
|
11.1
|
|
|
Retail used
vehicle
|
|
1,109.1
|
|
989.1
|
|
120.0
|
|
12.1
|
|
2,203.2
|
|
1,934.9
|
|
268.3
|
|
13.9
|
|
|
Wholesale
|
|
107.2
|
|
93.2
|
|
14.0
|
|
15.0
|
|
206.3
|
|
197.1
|
|
9.2
|
|
4.7
|
|
|
Used
vehicle
|
|
1,216.3
|
|
1,082.3
|
|
134.0
|
|
12.4
|
|
2,409.5
|
|
2,132.0
|
|
277.5
|
|
13.0
|
|
|
Finance and
insurance, net
|
|
217.7
|
|
185.4
|
|
32.3
|
|
17.4
|
|
425.3
|
|
357.8
|
|
67.5
|
|
18.9
|
|
Total variable
operations
|
|
4,401.8
|
|
4,004.6
|
|
397.2
|
|
9.9
|
|
8,572.2
|
|
7,655.3
|
|
916.9
|
|
12.0
|
|
Parts and
service
|
|
777.8
|
|
704.8
|
|
73.0
|
|
10.4
|
|
1,521.2
|
|
1,375.8
|
|
145.4
|
|
10.6
|
|
Other
|
|
44.7
|
|
79.1
|
|
(34.4)
|
|
|
|
75.1
|
|
120.9
|
|
(45.8)
|
|
|
|
Total
revenue
|
|
$
5,224.3
|
|
$
4,788.5
|
|
$
435.8
|
|
9.1
|
|
$ 10,168.5
|
|
$
9,152.0
|
|
$
1,016.5
|
|
11.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
$
166.1
|
|
$
161.6
|
|
$
4.5
|
|
2.8
|
|
$
327.6
|
|
$
307.5
|
|
$
20.1
|
|
6.5
|
|
|
Retail used
vehicle
|
|
91.4
|
|
88.7
|
|
2.7
|
|
3.0
|
|
193.9
|
|
181.5
|
|
12.4
|
|
6.8
|
|
|
Wholesale
|
|
(0.3)
|
|
0.6
|
|
(0.9)
|
|
|
|
0.9
|
|
2.1
|
|
(1.2)
|
|
|
|
|
Used
vehicle
|
|
91.1
|
|
89.3
|
|
1.8
|
|
2.0
|
|
194.8
|
|
183.6
|
|
11.2
|
|
6.1
|
|
|
Finance and
insurance
|
|
217.7
|
|
185.4
|
|
32.3
|
|
17.4
|
|
425.3
|
|
357.8
|
|
67.5
|
|
18.9
|
|
Total variable
operations
|
|
474.9
|
|
436.3
|
|
38.6
|
|
8.8
|
|
947.7
|
|
848.9
|
|
98.8
|
|
11.6
|
|
Parts and
service
|
|
337.2
|
|
300.8
|
|
36.4
|
|
12.1
|
|
657.2
|
|
587.5
|
|
69.7
|
|
11.9
|
|
Other
|
|
7.0
|
|
7.8
|
|
(0.8)
|
|
|
|
14.1
|
|
15.9
|
|
(1.8)
|
|
|
|
Total gross
profit
|
|
819.1
|
|
744.9
|
|
74.2
|
|
10.0
|
|
1,619.0
|
|
1,452.3
|
|
166.7
|
|
11.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
568.7
|
|
524.6
|
|
(44.1)
|
|
(8.4)
|
|
1,126.3
|
|
1,025.3
|
|
(101.0)
|
|
(9.9)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
32.1
|
|
26.2
|
|
(5.9)
|
|
|
|
60.8
|
|
51.8
|
|
(9.0)
|
|
|
|
Other income,
net
|
|
(3.8)
|
|
(3.7)
|
|
0.1
|
|
|
|
(5.1)
|
|
(11.7)
|
|
(6.6)
|
|
|
|
Operating
income
|
|
222.1
|
|
197.8
|
|
24.3
|
|
12.3
|
|
437.0
|
|
386.9
|
|
50.1
|
|
12.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-operating income
(expense) items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
|
(14.2)
|
|
(13.3)
|
|
(0.9)
|
|
|
|
(27.4)
|
|
(26.5)
|
|
(0.9)
|
|
|
|
|
Other interest
expense
|
|
(21.6)
|
|
(21.3)
|
|
(0.3)
|
|
|
|
(43.0)
|
|
(42.9)
|
|
(0.1)
|
|
|
|
|
Interest
income
|
|
-
|
|
0.1
|
|
(0.1)
|
|
|
|
0.1
|
|
0.1
|
|
-
|
|
|
|
|
Other income,
net
|
|
0.5
|
|
0.9
|
|
(0.4)
|
|
|
|
1.6
|
|
2.4
|
|
(0.8)
|
|
|
|
Income from
continuing operations before income taxes
|
|
$
186.8
|
|
$
164.2
|
|
$
22.6
|
|
13.8
|
|
$
368.3
|
|
$
320.0
|
|
$
48.3
|
|
15.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle unit
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
85,245
|
|
80,554
|
|
4,691
|
|
5.8
|
|
163,805
|
|
151,777
|
|
12,028
|
|
7.9
|
|
|
Used
|
|
57,370
|
|
52,656
|
|
4,714
|
|
9.0
|
|
115,994
|
|
104,792
|
|
11,202
|
|
10.7
|
|
|
|
|
142,615
|
|
133,210
|
|
9,405
|
|
7.1
|
|
279,799
|
|
256,569
|
|
23,230
|
|
9.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per vehicle
retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
$
34,815
|
|
$
33,976
|
|
$
839
|
|
2.5
|
|
$
35,026
|
|
$
34,033
|
|
$
993
|
|
2.9
|
|
|
Used
|
|
$
19,332
|
|
$
18,784
|
|
$
548
|
|
2.9
|
|
$
18,994
|
|
$
18,464
|
|
$
530
|
|
2.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit per
vehicle retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
$
1,949
|
|
$
2,006
|
|
$
(57)
|
|
(2.8)
|
|
$
2,000
|
|
$
2,026
|
|
$
(26)
|
|
(1.3)
|
|
|
Used
|
|
$
1,593
|
|
$
1,685
|
|
$
(92)
|
|
(5.5)
|
|
$
1,672
|
|
$
1,732
|
|
$
(60)
|
|
(3.5)
|
|
|
Finance and
insurance
|
|
$
1,526
|
|
$
1,392
|
|
$
134
|
|
9.6
|
|
$
1,520
|
|
$
1,395
|
|
$
125
|
|
9.0
|
|
|
Total variable
operations(1)
|
|
$
3,332
|
|
$
3,271
|
|
$
61
|
|
1.9
|
|
$
3,384
|
|
$
3,300
|
|
$
84
|
|
2.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Percentages
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
|
|
|
|
|
|
|
|
2015 (%)
|
|
2014 (%)
|
|
2015 (%)
|
|
2014 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
56.8
|
|
57.2
|
|
56.4
|
|
56.4
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
23.3
|
|
22.6
|
|
23.7
|
|
23.3
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
14.9
|
|
14.7
|
|
15.0
|
|
15.0
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance, net
|
|
4.2
|
|
3.9
|
|
4.2
|
|
3.9
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.8
|
|
1.6
|
|
0.7
|
|
1.4
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
20.3
|
|
21.7
|
|
20.2
|
|
21.2
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
11.1
|
|
12.0
|
|
12.0
|
|
12.6
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
41.2
|
|
40.4
|
|
40.6
|
|
40.5
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance
|
|
26.6
|
|
24.9
|
|
26.3
|
|
24.6
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.8
|
|
1.0
|
|
0.9
|
|
1.1
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
5.6
|
|
5.9
|
|
5.7
|
|
6.0
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle - retail
|
|
8.2
|
|
9.0
|
|
8.8
|
|
9.4
|
|
|
|
|
|
|
|
|
|
|
Parts
and service
|
|
43.4
|
|
42.7
|
|
43.2
|
|
42.7
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
15.7
|
|
15.6
|
|
15.9
|
|
15.9
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
10.9
|
|
11.0
|
|
11.1
|
|
11.2
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
4.3
|
|
4.1
|
|
4.3
|
|
4.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of total gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
69.4
|
|
70.4
|
|
69.6
|
|
70.6
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
27.1
|
|
26.6
|
|
27.0
|
|
26.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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,
|
|
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
$
1,764.2
|
|
$
1,604.9
|
|
$
159.3
|
|
9.9
|
|
$
3,429.9
|
|
$
3,077.9
|
|
$
352.0
|
|
11.4
|
|
Import
|
|
1,795.0
|
|
1,717.8
|
|
77.2
|
|
4.5
|
|
3,473.7
|
|
3,267.2
|
|
206.5
|
|
6.3
|
|
Premium
luxury
|
|
1,633.0
|
|
1,431.9
|
|
201.1
|
|
14.0
|
|
3,196.2
|
|
2,738.3
|
|
457.9
|
|
16.7
|
|
Total
|
|
5,192.2
|
|
4,754.6
|
|
437.6
|
|
9.2
|
|
10,099.8
|
|
9,083.4
|
|
1,016.4
|
|
11.2
|
|
Corporate and
other
|
|
32.1
|
|
33.9
|
|
(1.8)
|
|
(5.3)
|
|
68.7
|
|
68.6
|
|
0.1
|
|
0.1
|
|
Total consolidated revenue
|
|
$
5,224.3
|
|
$
4,788.5
|
|
$
435.8
|
|
9.1
|
|
$
10,168.5
|
|
$
9,152.0
|
|
$
1,016.5
|
|
11.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment
income*:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
$
84.9
|
|
$
70.5
|
|
$
14.4
|
|
20.4
|
|
$
164.2
|
|
$
134.3
|
|
$
29.9
|
|
22.3
|
|
Import
|
|
80.1
|
|
77.5
|
|
2.6
|
|
3.4
|
|
155.1
|
|
142.9
|
|
12.2
|
|
8.5
|
|
Premium
luxury
|
|
94.4
|
|
85.8
|
|
8.6
|
|
10.0
|
|
188.5
|
|
169.1
|
|
19.4
|
|
11.5
|
|
Total
|
|
259.4
|
|
233.8
|
|
25.6
|
|
10.9
|
|
507.8
|
|
446.3
|
|
61.5
|
|
13.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
other
|
|
(51.5)
|
|
(49.3)
|
|
(2.2)
|
|
|
|
(98.2)
|
|
(85.9)
|
|
(12.3)
|
|
|
|
Add: Floorplan
interest expense
|
|
14.2
|
|
13.3
|
|
0.9
|
|
|
|
27.4
|
|
26.5
|
|
0.9
|
|
|
|
Operating
income
|
|
$
222.1
|
|
$
197.8
|
|
$
24.3
|
|
12.3
|
|
$
437.0
|
|
$
386.9
|
|
$
50.1
|
|
12.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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
|
|
27,871
|
|
26,182
|
|
1,689
|
|
6.5
|
|
53,621
|
|
49,997
|
|
3,624
|
|
7.2
|
|
Import
|
|
40,279
|
|
39,685
|
|
594
|
|
1.5
|
|
77,193
|
|
74,610
|
|
2,583
|
|
3.5
|
|
Premium
luxury
|
|
17,095
|
|
14,687
|
|
2,408
|
|
16.4
|
|
32,991
|
|
27,170
|
|
5,821
|
|
21.4
|
|
|
|
85,245
|
|
80,554
|
|
4,691
|
|
5.8
|
|
163,805
|
|
151,777
|
|
12,028
|
|
7.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brand Mix - New
Vehicle Retail Units Sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
|
|
|
|
|
|
|
2015 (%)
|
|
2014 (%)
|
|
2015 (%)
|
|
2014 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ford,
Lincoln
|
|
15.8
|
|
16.7
|
|
16.1
|
|
17.2
|
|
|
|
|
|
|
|
|
|
Chevrolet, Buick, Cadillac, GMC
|
|
10.2
|
|
9.9
|
|
10.0
|
|
9.9
|
|
|
|
|
|
|
|
|
|
Chrysler, Jeep, Dodge
|
|
6.7
|
|
5.9
|
|
6.6
|
|
5.8
|
|
|
|
|
|
|
|
|
|
Domestic total
|
|
32.7
|
|
32.5
|
|
32.7
|
|
32.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Import:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Honda
|
|
11.3
|
|
12.3
|
|
11.1
|
|
11.8
|
|
|
|
|
|
|
|
|
|
Toyota
|
|
19.3
|
|
19.6
|
|
19.0
|
|
19.3
|
|
|
|
|
|
|
|
|
|
Nissan
|
|
9.8
|
|
10.5
|
|
9.9
|
|
11.0
|
|
|
|
|
|
|
|
|
|
Other
imports
|
|
6.8
|
|
6.9
|
|
7.2
|
|
7.1
|
|
|
|
|
|
|
|
|
|
Import total
|
|
47.2
|
|
49.3
|
|
47.2
|
|
49.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premium
Luxury:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mercedes-Benz
|
|
8.4
|
|
7.1
|
|
8.2
|
|
7.3
|
|
|
|
|
|
|
|
|
|
BMW
|
|
4.5
|
|
4.9
|
|
4.7
|
|
4.8
|
|
|
|
|
|
|
|
|
|
Lexus
|
|
2.7
|
|
2.6
|
|
2.9
|
|
2.6
|
|
|
|
|
|
|
|
|
|
Audi
|
|
2.1
|
|
1.5
|
|
2.0
|
|
1.3
|
|
|
|
|
|
|
|
|
|
Other
premium luxury (Land Rover, Porsche)
|
|
2.4
|
|
2.1
|
|
2.3
|
|
1.9
|
|
|
|
|
|
|
|
|
|
Premium Luxury
total
|
|
20.1
|
|
18.2
|
|
20.1
|
|
17.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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,
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
(1)
|
|
$
71.2
|
|
$
52.9
|
|
$
134.1
|
|
$
87.8
|
|
|
|
|
|
Cash paid for
acquisitions (2)
|
|
$
45.4
|
|
$
-
|
|
$
73.1
|
|
$
-
|
|
|
|
|
|
Proceeds from
exercises of stock options
|
|
$
6.3
|
|
$
6.8
|
|
$
18.8
|
|
$
22.1
|
|
|
|
|
|
Stock
repurchases:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate purchase
price
|
|
$
50.0
|
|
$
64.1
|
|
$
59.1
|
|
$
179.8
|
|
|
|
|
|
|
Shares repurchased
(in millions)
|
|
0.8
|
|
1.1
|
|
0.9
|
|
3.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan
Assistance and Expense
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
2015
|
|
2014
|
|
Variance
|
|
2015
|
|
2014
|
|
Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan assistance
earned (included in cost of sales)
|
|
$
29.4
|
|
$
26.7
|
|
$
2.7
|
|
$
56.1
|
|
$
50.7
|
|
$
5.4
|
|
New vehicle floorplan
interest expense
|
|
(13.4)
|
|
(12.6)
|
|
(0.8)
|
|
(25.8)
|
|
(25.3)
|
|
(0.5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net new vehicle
inventory carrying benefit
|
|
$
16.0
|
|
$
14.1
|
|
$
1.9
|
|
$
30.3
|
|
$
25.4
|
|
$
4.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet and
Other Highlights
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
2015
|
|
December 31,
2014
|
|
June 30,
2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
65.3
|
|
$
75.4
|
|
$
68.5
|
|
|
|
|
|
|
|
Inventory
|
|
$
3,230.7
|
|
$
2,899.0
|
|
$
2,776.6
|
|
|
|
|
|
|
|
Total floorplan notes
payable
|
|
$
3,321.4
|
|
$
3,097.2
|
|
$
2,869.1
|
|
|
|
|
|
|
|
Non-vehicle
debt
|
|
$
2,128.6
|
|
$
2,128.4
|
|
$
1,883.2
|
|
|
|
|
|
|
|
Equity
|
|
$
2,285.3
|
|
$
2,072.1
|
|
$
2,125.1
|
|
|
|
|
|
|
|
New days supply
(industry standard of selling days)
|
|
63
days
|
|
54
days
|
|
59
days
|
|
|
|
|
|
|
|
Used days supply
(trailing calendar month days)
|
|
36
days
|
|
38
days
|
|
36
days
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key Credit
Agreement Covenant Compliance Calculations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of funded
indebtedness/
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
EBITDA
|
|
|
|
2.18x
|
|
|
|
|
|
|
|
|
|
Covenant
|
less than or equal
to
|
|
3.75x
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of funded
indebtedness including floorplan/
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
capitalization including floorplan
|
|
|
|
58.8%
|
|
|
|
|
|
|
|
|
|
Covenant
|
|
|
less than or equal
to
|
|
70.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Includes accrued
construction in progress and excludes property acquired under
capital leases
|
|
|
|
|
|
|
|
|
|
(2)
|
Excludes capital
leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUTONATION,
INC.
|
|
UNAUDITED
SUPPLEMENTARY DATA, Continued
|
|
($ in millions,
except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comparable Basis
Reconciliations*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
|
|
|
Net
Income
|
|
Diluted
Earnings Per Share**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
|
|
|
As
reported
|
|
|
$
115.1
|
|
$
100.4
|
|
$
1.00
|
|
$
0.83
|
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued
operations, net of income taxes
|
|
|
0.1
|
|
0.3
|
|
$
-
|
|
$
-
|
|
From continuing
operations, as reported
|
|
|
115.2
|
|
100.7
|
|
$
1.00
|
|
$
0.83
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
|
|
|
$
115.2
|
|
$
100.7
|
|
$
1.00
|
|
$
0.83
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June
30,
|
|
|
|
|
Net
Income
|
|
Diluted
Earnings Per Share**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
|
|
|
As
reported
|
|
|
$
226.6
|
|
$
195.5
|
|
$
1.97
|
|
$
1.61
|
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued
operations, net of income taxes
|
|
|
0.3
|
|
0.7
|
|
$
-
|
|
$
0.01
|
|
From continuing
operations, as reported
|
|
|
226.9
|
|
196.2
|
|
$
1.97
|
|
$
1.62
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain related to
business/property dispositions
|
|
|
-
|
|
(5.0)
|
|
$
-
|
|
$
(0.04)
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
|
|
|
$
226.9
|
|
$
191.2
|
|
$
1.97
|
|
$
1.58
|
|
|
|
|
|
|
|
|
|
|
|
|
*
|
Please refer to the
"Non-GAAP Financial Measures" section of the Press
Release.
|
|
|
|
**
|
Diluted earnings per
share amounts are calculated discretely and therefore may not add
up to the total.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUTONATION,
INC.
|
|
UNAUDITED SAME
STORE DATA
|
|
($ in millions,
except per vehicle data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Highlights
|
|
Three Months Ended
June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
$
2,866.7
|
|
$
2,723.2
|
|
$
143.5
|
|
5.3
|
|
$
5,558.7
|
|
$
5,138.2
|
|
$
420.5
|
|
8.2
|
|
|
Retail used
vehicle
|
|
1,069.0
|
|
982.9
|
|
86.1
|
|
8.8
|
|
2,129.8
|
|
1,922.5
|
|
207.3
|
|
10.8
|
|
|
Wholesale
|
|
105.1
|
|
92.9
|
|
12.2
|
|
13.1
|
|
202.5
|
|
196.6
|
|
5.9
|
|
3.0
|
|
|
Used
vehicle
|
|
1,174.1
|
|
1,075.8
|
|
98.3
|
|
9.1
|
|
2,332.3
|
|
2,119.1
|
|
213.2
|
|
10.1
|
|
|
Finance and
insurance, net
|
|
212.1
|
|
184.4
|
|
27.7
|
|
15.0
|
|
415.5
|
|
355.9
|
|
59.6
|
|
16.7
|
|
Total variable
operations
|
|
4,252.9
|
|
3,983.4
|
|
269.5
|
|
6.8
|
|
8,306.5
|
|
7,613.2
|
|
693.3
|
|
9.1
|
|
Parts and
service
|
|
751.4
|
|
700.3
|
|
51.1
|
|
7.3
|
|
1,474.1
|
|
1,366.6
|
|
107.5
|
|
7.9
|
|
Other
|
|
44.7
|
|
79.2
|
|
(34.5)
|
|
|
|
75.0
|
|
119.7
|
|
(44.7)
|
|
|
|
Total
revenue
|
|
$
5,049.0
|
|
$
4,762.9
|
|
$
286.1
|
|
6.0
|
|
$
9,855.6
|
|
$
9,099.5
|
|
$
756.1
|
|
8.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
$
158.2
|
|
$
160.9
|
|
$
(2.7)
|
|
(1.7)
|
|
$
312.5
|
|
$
306.0
|
|
$
6.5
|
|
2.1
|
|
|
Retail used
vehicle
|
|
88.7
|
|
88.0
|
|
0.7
|
|
0.8
|
|
188.4
|
|
180.0
|
|
8.4
|
|
4.7
|
|
|
Wholesale
|
|
(0.3)
|
|
0.7
|
|
(1.0)
|
|
|
|
0.9
|
|
2.2
|
|
(1.3)
|
|
|
|
|
Used
vehicle
|
|
88.4
|
|
88.7
|
|
(0.3)
|
|
(0.3)
|
|
189.3
|
|
182.2
|
|
7.1
|
|
3.9
|
|
|
Finance and
insurance
|
|
212.1
|
|
184.4
|
|
27.7
|
|
15.0
|
|
415.5
|
|
355.9
|
|
59.6
|
|
16.7
|
|
Total variable
operations
|
|
458.7
|
|
434.0
|
|
24.7
|
|
5.7
|
|
917.3
|
|
844.1
|
|
73.2
|
|
8.7
|
|
Parts and
service
|
|
324.3
|
|
298.6
|
|
25.7
|
|
8.6
|
|
634.4
|
|
583.2
|
|
51.2
|
|
8.8
|
|
Other
|
|
6.7
|
|
7.8
|
|
(1.1)
|
|
|
|
13.4
|
|
15.6
|
|
(2.2)
|
|
|
|
Total gross
profit
|
|
$
789.7
|
|
$
740.4
|
|
$
49.3
|
|
6.7
|
|
$
1,565.1
|
|
$
1,442.9
|
|
$
122.2
|
|
8.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle unit
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
83,027
|
|
80,011
|
|
3,016
|
|
3.8
|
|
159,946
|
|
150,687
|
|
9,259
|
|
6.1
|
|
|
Used
|
|
55,780
|
|
52,218
|
|
3,562
|
|
6.8
|
|
113,133
|
|
103,892
|
|
9,241
|
|
8.9
|
|
|
|
|
138,807
|
|
132,229
|
|
6,578
|
|
5.0
|
|
273,079
|
|
254,579
|
|
18,500
|
|
7.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per vehicle
retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
$
34,527
|
|
$
34,035
|
|
$
492
|
|
1.4
|
|
$
34,754
|
|
$
34,098
|
|
$
656
|
|
1.9
|
|
|
Used
|
|
$
19,165
|
|
$
18,823
|
|
$
342
|
|
1.8
|
|
$
18,826
|
|
$
18,505
|
|
$
321
|
|
1.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit per
vehicle retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
$
1,905
|
|
$
2,011
|
|
$
(106)
|
|
(5.3)
|
|
$
1,954
|
|
$
2,031
|
|
$
(77)
|
|
(3.8)
|
|
|
Used
|
|
$
1,590
|
|
$
1,685
|
|
$
(95)
|
|
(5.6)
|
|
$
1,665
|
|
$
1,733
|
|
$
(68)
|
|
(3.9)
|
|
|
Finance and
insurance
|
|
$
1,528
|
|
$
1,395
|
|
$
133
|
|
9.5
|
|
$
1,522
|
|
$
1,398
|
|
$
124
|
|
8.9
|
|
|
Total variable
operations(1)
|
|
$
3,307
|
|
$
3,277
|
|
$
30
|
|
0.9
|
|
$
3,356
|
|
$
3,307
|
|
$
49
|
|
1.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Percentages
|
|
Three Months
Ended June 30,
|
|
Six Months
Ended June 30,
|
|
|
|
|
|
|
|
|
|
|
|
|
2015 (%)
|
|
2014 (%)
|
|
2015 (%)
|
|
2014 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
56.8
|
|
57.2
|
|
56.4
|
|
56.5
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
23.3
|
|
22.6
|
|
23.7
|
|
23.3
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
14.9
|
|
14.7
|
|
15.0
|
|
15.0
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance, net
|
|
4.2
|
|
3.9
|
|
4.2
|
|
3.9
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.8
|
|
1.6
|
|
0.7
|
|
1.3
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
20.0
|
|
21.7
|
|
20.0
|
|
21.2
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
11.2
|
|
12.0
|
|
12.1
|
|
12.6
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
41.1
|
|
40.3
|
|
40.5
|
|
40.4
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance
|
|
26.9
|
|
24.9
|
|
26.5
|
|
24.7
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.8
|
|
1.1
|
|
0.9
|
|
1.1
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
5.5
|
|
5.9
|
|
5.6
|
|
6.0
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle - retail
|
|
8.3
|
|
9.0
|
|
8.8
|
|
9.4
|
|
|
|
|
|
|
|
|
|
|
Parts
and service
|
|
43.2
|
|
42.6
|
|
43.0
|
|
42.7
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
15.6
|
|
15.5
|
|
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/20001017/AUTONATIONLOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/autonation-reports-record-second-quarter-eps-from-continuing-operations-300116759.html
SOURCE AutoNation, Inc.