AutoNation reports Q1 EPS $4.49, consensus $4.27

Reports Q1 revenue $6.49B, consensus $6.49B. New vehicle revenue increased $47M or 2% to $3B. Used vehicle revenue decreased $37M or 2% to $2B. “Our first quarter performance once again reflected the strength of our business model and the outstanding execution by our associates. We delivered robust growth in New and Used Vehicle sales, maintained a highly attractive position in our Customer Financial Services business, and posted 8% revenue growth in our After-Sales business. Our operating cash generation was exceptional, and we were thoughtful in our capital allocation decisions,” said Mike Manley, AutoNation Chief Executive Officer. “We remain focused on maximizing shareholder returns and I am pleased to announce that our Board authorized the repurchase of up to an additional $1.0 billion of common stock,” Manley added.