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AutoNation Inc. (AN - Free Report) reported adjusted earnings of $1.02 per share in fourth-quarter fiscal 2017, surpassing the Zacks Consensus Estimate of 92 cents. Earnings from continuing operations came in at $1.64.
Net income from continuing operations increased to $152 million from $116 million in fourth-quarter fiscal 2016.
During the quarter, AutoNation reported revenues of $5.69 billion, rising 3.7% year over year. Also, the top line beat the Zacks Consensus Estimate of $5.56 billion.
AutoNation, Inc. Price, Consensus and EPS Surprise
New vehicle revenues increased 4.9% year over year to $3.35 billion in fourth-quarter fiscal 2017. However, used vehicle revenues declined 0.8% year over year to $1.21 billion. Parts and service business revenues grew 3.8% year over year to $854 million in fourth-quarter fiscal 2017. Finance and insurance business revenues came in at $247 million, reflecting a 14.2% increase.
Fiscal 2017 Results
AutoNation reported earnings of $4.43 per share in fiscal 2017, up from $4.15 earned in fiscal 2016. Also, earnings outpaced the Zacks Consensus Estimate of $3.75.
Net income was $434.6 million in comparison to $430.5 million a year ago. Consolidated revenues were $12.18 billion in comparison to $12.26 billion recorded in fiscal 2016. The figure missed the Zacks Consensus Estimate of $21.42 billion.
Segment Details
Revenues at the Domestic segment — comprising stores that sell vehicles manufactured by General Motors, Ford and FCA US — declined 1.4% to $1.9 billion. The segment’s income gained 4% to $67 million in the quarter under review.
Revenues at the Import segment — consisting of outlets that sell vehicles manufactured, primarily by Toyota, Honda, Nissan and Hyundai — increased 3.9% to $1.75 billion. However, segment income gained 13% to $75 million in the reported quarter.
Revenues at the Premium Luxury segment retail vehicles manufactured, primarily by Mercedes-Benz, BMW, Lexus and Audi. The sales figure rose 7.7% to $1.94 billion. Segmental income grew 13% to $106 million in the reported quarter.
Balance Sheet and Capex
AutoNation’s cash and cash equivalents were $69.2 million as of Dec 31, 2017, increasing from $64.8 million as of Dec 31, 2016. The company’s inventory was valued at $3.4 billion as of Dec 31, 2017 compared with $3.5 billion as of Dec 31, 2016.
As of Dec 31, 2017, non-vehicle debt was $2.7 billion in comparison to $2.72 billion a year ago. At the end of the fiscal, capital expenditures were $333 million compared with $253.2 million at the prior year-end.
Share Repurchases
In fiscal 2017, the company repurchased 10.1 million shares for $435 million. As of Jan 31, 2018, AutoNation had approximately $114 million remaining under its share repurchase program and around 92 million shares outstanding.
Price Performance
Shares of AutoNation have soared 49.9% in the last six months, outperforming the 33.9% rise of the industry it belongs to.
Zacks Rank & Other Key Picks
AutoNation flaunts a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the auto space include Daimler AG , Lear Corporation (LEA - Free Report) and Volkswagen A.G. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Daimler has an expected long-term growth rate of 2.8%. Shares of the company have climbed 26.4% in the last six months.
Lear Corp has an expected long-term growth rate of 7.1%. The stock has jumped 34.7% in the last six months.
Volkswagen has an expected long-term growth rate of 18.7%. In the last six months, shares of the company have rallied 42.4%.
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AutoNation (AN) Q4 Earnings & Revenues Surpass Estimates
AutoNation Inc. (AN - Free Report) reported adjusted earnings of $1.02 per share in fourth-quarter fiscal 2017, surpassing the Zacks Consensus Estimate of 92 cents. Earnings from continuing operations came in at $1.64.
Net income from continuing operations increased to $152 million from $116 million in fourth-quarter fiscal 2016.
During the quarter, AutoNation reported revenues of $5.69 billion, rising 3.7% year over year. Also, the top line beat the Zacks Consensus Estimate of $5.56 billion.
AutoNation, Inc. Price, Consensus and EPS Surprise
AutoNation, Inc. Price, Consensus and EPS Surprise | AutoNation, Inc. Quote
New vehicle revenues increased 4.9% year over year to $3.35 billion in fourth-quarter fiscal 2017. However, used vehicle revenues declined 0.8% year over year to $1.21 billion. Parts and service business revenues grew 3.8% year over year to $854 million in fourth-quarter fiscal 2017. Finance and insurance business revenues came in at $247 million, reflecting a 14.2% increase.
Fiscal 2017 Results
AutoNation reported earnings of $4.43 per share in fiscal 2017, up from $4.15 earned in fiscal 2016. Also, earnings outpaced the Zacks Consensus Estimate of $3.75.
Net income was $434.6 million in comparison to $430.5 million a year ago. Consolidated revenues were $12.18 billion in comparison to $12.26 billion recorded in fiscal 2016. The figure missed the Zacks Consensus Estimate of $21.42 billion.
Segment Details
Revenues at the Domestic segment — comprising stores that sell vehicles manufactured by General Motors, Ford and FCA US — declined 1.4% to $1.9 billion. The segment’s income gained 4% to $67 million in the quarter under review.
Revenues at the Import segment — consisting of outlets that sell vehicles manufactured, primarily by Toyota, Honda, Nissan and Hyundai — increased 3.9% to $1.75 billion. However, segment income gained 13% to $75 million in the reported quarter.
Revenues at the Premium Luxury segment retail vehicles manufactured, primarily by Mercedes-Benz, BMW, Lexus and Audi. The sales figure rose 7.7% to $1.94 billion. Segmental income grew 13% to $106 million in the reported quarter.
Balance Sheet and Capex
AutoNation’s cash and cash equivalents were $69.2 million as of Dec 31, 2017, increasing from $64.8 million as of Dec 31, 2016. The company’s inventory was valued at $3.4 billion as of Dec 31, 2017 compared with $3.5 billion as of Dec 31, 2016.
As of Dec 31, 2017, non-vehicle debt was $2.7 billion in comparison to $2.72 billion a year ago. At the end of the fiscal, capital expenditures were $333 million compared with $253.2 million at the prior year-end.
Share Repurchases
In fiscal 2017, the company repurchased 10.1 million shares for $435 million. As of Jan 31, 2018, AutoNation had approximately $114 million remaining under its share repurchase program and around 92 million shares outstanding.
Price Performance
Shares of AutoNation have soared 49.9% in the last six months, outperforming the 33.9% rise of the industry it belongs to.
Zacks Rank & Other Key Picks
AutoNation flaunts a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the auto space include Daimler AG , Lear Corporation (LEA - Free Report) and Volkswagen A.G. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Daimler has an expected long-term growth rate of 2.8%. Shares of the company have climbed 26.4% in the last six months.
Lear Corp has an expected long-term growth rate of 7.1%. The stock has jumped 34.7% in the last six months.
Volkswagen has an expected long-term growth rate of 18.7%. In the last six months, shares of the company have rallied 42.4%.
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
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