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AutoNation (AN) Q2 Earnings Miss Estimates, Sales Trail
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AutoNation Inc. (AN - Free Report) is the largest automotive retailer in the U.S. and is about twice the size of its nearest competitor. The company is positioned to benefit from recovery in the auto market, backed by its optimal brand and market mix as well as a disciplined cost structure.
Estimate Trend & Surprise History
AutoNation’s first-quarter 2017 earnings beat the Zacks Consensus Estimate. In fact, the company surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed in two quarters. As a result, it has an average positive surprise of around 1.45% for the last four quarters.
AutoNation delivered earnings of 86 cents per share in the second quarter of 2017, which decreased from $1.08 recorded in the second quarter of 2016. Earnings also missed the Zacks Consensus Estimate of 98 cents.
Revenues
AutoNation reported revenues of $5.28 billion, down 3% year over year. Also, revenues missed the Zacks Consensus Estimate of $5.57 billion.
Key Stats/Developments to Note
During the quarter, combined retail vehicle unit sales were down 3% year over year.
In Texas and Florida, which represent around 45% of the company’s total retail vehicle unit sales, market conditions were very tough.
AutoNation’s shares declined 5.3% in the pre-market trading following the release.
Check back later for our full write up on AutoNation’s earnings report!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
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AutoNation (AN) Q2 Earnings Miss Estimates, Sales Trail
AutoNation Inc. (AN - Free Report) is the largest automotive retailer in the U.S. and is about twice the size of its nearest competitor. The company is positioned to benefit from recovery in the auto market, backed by its optimal brand and market mix as well as a disciplined cost structure.
Estimate Trend & Surprise History
AutoNation’s first-quarter 2017 earnings beat the Zacks Consensus Estimate. In fact, the company surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed in two quarters. As a result, it has an average positive surprise of around 1.45% for the last four quarters.
AutoNation, Inc. Price and EPS Surprise
AutoNation, Inc. Price and EPS Surprise | AutoNation, Inc. Quote
Earnings
AutoNation delivered earnings of 86 cents per share in the second quarter of 2017, which decreased from $1.08 recorded in the second quarter of 2016. Earnings also missed the Zacks Consensus Estimate of 98 cents.
Revenues
AutoNation reported revenues of $5.28 billion, down 3% year over year. Also, revenues missed the Zacks Consensus Estimate of $5.57 billion.
Key Stats/Developments to Note
During the quarter, combined retail vehicle unit sales were down 3% year over year.
In Texas and Florida, which represent around 45% of the company’s total retail vehicle unit sales, market conditions were very tough.
Zacks Rank
Currently, AutoNation has a Zacks Rank #4 (Sell), but that could change following its earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction
AutoNation’s shares declined 5.3% in the pre-market trading following the release.
Check back later for our full write up on AutoNation’s earnings report!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
See these stocks now>>