NYSE$AN

AutoNation · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

AutoNation reported record EPS and revenue driven by used vehicle sales and after-sales performance.

AutoNation reported record first quarter EPS with a 14% increase in revenue to $6.8 billion, driven by a 47% increase in used vehicle revenue and an 18% increase in After-Sales revenue. The company repurchased 3.5 million shares of common stock for $381 million during the quarter.

  • First quarter GAAP EPS increased by 103% compared to the previous year.
  • Revenue increased by 14% driven by a 47% increase in used vehicle revenue.
  • Operating income increased by 54% compared to the same period last year.
  • After-Sales gross profit increased by 19% compared to the previous year.

Headline financials

Total Revenue

$6.75B

Previous: $5.9B+14.4%
EPS (adj)

$5.78

Previous: $2.79+107.2%
New Vehicle Retail Unit Sales

56.4K

Previous: 69.4K-18.6%
Used Vehicle Retail Unit Sales

79.8K

Previous: 71.8K+11.1%
Revenue per New Vehicle Retailed

$49.7K

No prior period
Revenue per Used Vehicle Retailed

$30K

No prior period
Gross Profit per New Vehicle Retailed

$6.11K

Previous: $2.74K+123.1%
Gross Profit per Used Vehicle Retailed

$1.57K

Previous: $1.74K-10.2%
F&I Gross Profit per Vehicle

$2.67K

Previous: $2.22K+20.5%
Total Variable Ops Gross Profit/Vehicle

$6.12K

No prior period
Capital Expenditures

-$56.6M

Previous: -$41.3M-37.0%
Free Cash Flow

$306M

Previous: $198M+54.2%
Net Income

$362M

Previous: $239M+51.3%
Operating Income

$519M

Previous: $337M+54.1%
Gross Profit

$1.31B

Previous: $1.03B+26.7%
Cash & Equivalents

$608M

Previous: $350M+73.7%
Total Assets

$9.36B

Previous: $9.27B+1.0%
Stock-Based Comp

$15.9M

Previous: $20.8M-23.6%

Revenue & EPS history

AutoNation · Revenue · Quarterly

$6.75B

Q1 2022+14.4%vs Q1 2021
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

AutoNation · $6.75B total across 5 segments · Q1 2022

  • New vehicle
    $2.81B-5.9%
  • Used vehicle
    $2.57B+47.1%
  • Parts and service
    $1B+18.0%
  • Finance and insurance, net
    $364M+16.3%
  • Other
    $5.4M-35.7%

Forward guidance

AutoNation plans to expand used vehicle retail business, leveraging existing capabilities and AutoNation USA growth plan. The Company plans to open 12 additional new stores over the next 12 months and target to have over 130 AutoNation USA stores in operation from coast-to-coast by the end of 2026.

Tailwinds

  • Superior used vehicle sourcing
  • Broad selection of inventory
  • Proven operating model
  • Demonstrated digital scale
  • Admired brand

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+0.4%

Avg return

Earnings day

-0.5%

Avg return

5 days after

-0.9%

Avg return

30 days after

49%

33 / 68 earnings

Positive

+16.1%

Q2 2019

Best reaction

-15.1%

Q2 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.2%-3.6%-11.7%
Q4 2025+6.2%+1.9%-5.5%
Q3 2025-3.6%-8.9%-4.4%
Q1 2025+1.0%+0.5%+5.1%
Q4 2024+1.3%+0.0%-18.7%
Q3 2024-3.2%-2.5%+5.7%
Q2 2024+2.5%-7.4%-0.8%
Q1 2024+3.1%+1.5%+5.8%
Q4 2023-6.3%-7.2%+0.9%
Q3 2023-0.9%+1.9%+3.6%
Q2 2023-15.1%-11.8%-10.7%
Q1 2023-2.2%-5.3%-2.3%
Q4 2022+1.5%+1.8%-10.4%
Q3 2022+3.6%+9.1%+17.4%
Q2 2022-4.2%-9.1%+2.8%
Q1 2022+0.7%+10.0%+2.6%
Q4 2021-1.2%-5.2%+6.6%
Q3 2021+11.6%+7.2%+0.8%
Q2 2021+11.3%+13.8%+10.8%
Q1 2021-2.1%+4.6%+1.0%
Q4 2020+0.8%+0.4%+15.1%
Q3 2020-1.2%-3.2%-4.1%
Q2 2020+12.0%+11.7%+18.9%
Q1 2020-4.0%-6.8%+6.3%
Q4 2019+9.1%+8.6%-24.9%
Q3 2019-0.4%-0.1%+0.4%
Q2 2019+16.1%+16.6%+13.3%
Q1 2019+7.0%+3.8%+0.5%
Q4 2018-6.8%-9.5%-12.5%
Q3 2018-4.0%-3.5%-11.9%
Q2 2018-4.5%-1.5%-6.6%
Q1 2018+2.1%+2.7%-1.1%
Q4 2017-5.0%-9.6%-17.5%
Q3 2017+12.8%+11.2%+15.6%
Q2 2017-7.7%-3.9%+8.5%
Q1 2017-2.1%-4.7%-11.7%
Q4 2016-6.4%-8.0%-11.5%
Q3 2016-4.7%-8.9%-2.7%
Q2 2016-0.6%-5.5%-8.7%
Q1 2016+3.1%
Q4 2015-1.8%
Q3 2015+2.3%
Q2 2015-3.6%
Q1 2015+0.1%
Q4 2014+5.8%
Q3 2014+7.3%
Q2 2014-5.6%
Q1 2014+1.6%
Q4 2013+5.1%
Q3 2013+1.2%
Q2 2013-1.6%
Q1 2013+3.2%
Q4 2012+6.3%
Q3 2012-7.1%
Q2 2012-6.5%
Q1 2012+3.9%
Q4 2011-2.7%
Q3 2011+7.5%
Q2 2011+8.3%
Q1 2010-3.3%
Q1 2011-0.3%
Q4 2010+3.7%
Q4 2008+3.7%
Q3 2010-6.4%
Q3 2009-6.4%
Q2 2010-1.7%
Q2 2009-1.7%
Q4 2009-1.7%

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