Wed, Apr. 22, 7:49 AM
- Revenue breakdown: New vehicle retail: $1.01B (+74.0%); Used vehicle retail: $462.93M (+53.3%); Used vehicle wholesale: $62.21M (+45.7%); Finance and insurance: $64.60M (+63.0%); Service, body and parts: $173.48M (+65.8%); Fleet and other: $18.14M (86.1%).
- Gross margin rate declined 68 bps to 15.28%.
- Operating margin rate fell 35 bps to 3.80%.
- Total retail units sold +63.2% Y/Y to 54,827 units.
- Q2 Guidance: Diluted EPS: $1.55 to $1.59.
- FY2015 Guidance: Total revenues: $7.5B to $7.7B; Same-store revenues: $5.2 to $5.4B; New vehicle sales: +43.5%; Used vehicle sales: +36.5%; Service body and parts sales: +41%; New vehicle gross margin: 5.9% to 6.1%; Used vehicle gross margin: 12.6% to 12.8%; Service body and parts gross margin: 48.8% to 49.0%; Tax rate: 40%; Diluted EPS: $6.20 to $6.30; Average diluted shares outstanding: 26.5M; Capex: $100M.
Wed, Apr. 22, 7:31 AM
Tue, Apr. 21, 5:30 PM
Wed, Feb. 25, 8:34 AM
- Revenue breakdown: New vehicle retail: $1.07B (+81.8%); Used vehicle retail: $409.59M (+61.4%); Used vehicle wholesale: $59.87M (+59%); Finance and insurance: $60.06M (+66.9%); Service, body and parts: $172.4M (+71%); Fleet and other: $19.85M (179.2%).
- Gross margin rate declined 98 bps to 14.56%.
- Operating margin rate fell 77 bps to 3.68%.
- Total retail units sold +73.9% Y/Y to 53,626 units.
- FQ1 Guidance: Diluted EPS: $1.18 to $1.21.
- FY2015 Guidance: Total revenues: $7.5B to $7.7B; Same-store revenues: $5.2 to $5.4B; New vehicle sales: +41.5%; Used vehicle sales: +36.5%; Service body and parts sales: +41%; New vehicle gross margin: 5.9% to 6.1%; Used vehicle gross margin: 12.3% to 12.5%; Service body and parts gross margin: 48.4% to 48.6%; Tax rate: 40%; Diluted EPS: $5.95 to $6.05; Average diluted shares outstanding: 26.5M; Capex: $120M.
- LAD +2.97% premarket.
Wed, Feb. 25, 7:31 AM
Tue, Feb. 24, 5:30 PM
Dec. 22, 2014, 10:49 AM
- TrueCar projects automobile sales in the U.S will rise 2.6% to 17M next year.
- The research firm forecasts the average transaction price of new vehicles will increase 2.4% to a $32,589.
- TrueCar's models to watch: Ford F-Series, Mazda CX-3, Mercedes-Benz GLA.
- Related stocks: GM, F, TM, FCAU, HMC, OTCPK:NSANY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCQX:VLKAY, OTCPK:FUJHY, KMX, CRMT, AN, OTCPK:MZDAY, LAD.
Dec. 19, 2014, 3:00 PM
- U.S. automobile sales are forecast to increase 11% in December to an annual selling rate of 16.6M units, according to a fresh forecast from TrueCar.
- The research firm says the industry benefited from lower gas prices and a better month of weather than was seen a year ago.
- For the full year, TrueCar expects total U.S. vehicle revenue to be up 8.3% to close to $1T.
- Transaction prices on new cars are up 1.9% to $31,831 YTD.
- Used vehicle sales are up 3.3% for the year.
- Related stocks: GM, F, TM, FCAU, HMC, OTCPK:NSANY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCQX:VLKAY, OTCPK:FUJHY, KMX, CRMT, AN, LAD.
Nov. 15, 2014, 8:25 AM
- Westwood fund manager Bill Costello likes stable companies with a strong balance sheet and especially positive cash flow, but he makes one exception to the rule: energy exploration and production companies.
- Costello is still big on the U.S. energy boom, and tells Barron's he is willing to invest in companies with negative cash flow as long as he can project a path to positive or neutral free cash flow in a three-year outlook.
- His two favorites: Synergy Resources (NYSEMKT:SYRG), which doubled its Y/Y production in the latest fiscal year and could more than double again this year, and Bonanza Creek Energy (NYSE:BCEI), which trades at just 5x EV/EBITDA.
- Both operate mainly in Colorado's Denver-Julesberg Basin, and both benefit from relatively cheap production costs of ~$60/bbl; Costello believes the oil price downturn will not hurt these two companies.
- Non-energy favorites are LAD, LFUS, BCC.
Oct. 30, 2014, 10:30 AM
- Lithia Motors (NYSE:LAD) reports total same store sales increased 11.5% in Q3.
- New vehicle same store sales moved up 10.7%.
- Used vehicle retail same store sales rose 13%.
- Same store F&I per unit increased $97 to $1,202.
- Total retail units sold +6.5% to 35,795.
- Gross margin fell 20 bps to 15.3%.
- The company says it completed the purchase of DCH Auto Group USA.
- Guidance: Revenues - FY $5.2B to $5.4B; EPS - Q4 $1.17 to $1.19, FY $4.86 to $4.88.
Oct. 30, 2014, 7:30 AM
Oct. 28, 2014, 9:10 AM
- Bulls will like...
- That AutoNation (NYSE:AN) didn't go down the path of early results of competitors like Lithia (NYSE:LAD), Asbury (NYSE:ABG) or Sonic (NYSE:SAH).
- That AN didn't repeat it's own Q2.
- That AN seems to be returning to its share repurchase program.
- Bears will say...
- "That there was little to get excited about at the operating level especially with lower margins across the board."
- Source: Morgan Stanely analyst Ravi Shanker
- Previously: AutoNation beats by $0.04, beats on revenue
- Previously: More on AutoNation's Q3
- Previously: Sonic EPS in-line, beats on revenue
- Previously: Asbury Automotive beats by $0.01, revenue in-line
- Previously: Preliminary results in for Lithia Motors' Q3
Oct. 15, 2014, 8:15 AM| Comment!
Oct. 13, 2014, 12:46 PM
Oct. 13, 2014, 7:07 AM| Comment!
Oct. 2, 2014, 9:40 AM
- There's more than passing interest in the auto retailer/dealership group over Warren Buffett's acquisition of Van Tuyl Group.
- Analysts have already tapped the sector as ripe for M&A opportunities before Buffett skipped into the fray.
- AutoNation (AN +2.2%), CarMax (KMX +1.5%), Sonic Automotive (SAH +3.5%), Lithia Motors (LAD +7.1%), Penske Automotive (PAG +3.4%), Group 1 Automotive (GPI +3.5%), Asbury Automotive (ABG +5.5%), Rush Enterprises (RUSHA) are all higher in early action.
- Related: Strong comps at AutoNation.
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