- AutoNation (NYSE:NYSE:AN) reports same-store sales rose 3.2% in Q1.
- New vehicle revenue up 0.2% to $2.80B.
- Used vehicle revenue grew 7.2% to $1.33B.
- Parts and service revenue increased 1.6% to $858.5M.
- Finance and insurance, net revenue +8.7% to $240.8M.
- Segment revenue: Domestic: $1.77B (-1.5%); Import: $1.65B (+1.3%); Premium luxury: $1.72B (+6.3%).
- Gross margin rate flat at 16%.
- SG&A expense rate +30 bps to 11.9%.
- Segment income: Domestic: $60.3M (-1.8%); Import: $72.8M (+1.5%); Premium Luxury: $87.7M (+8.9%).
- Operating margin rate down 50 bps to 3.5%.
- Retail vehicle unit sales declined slightly 0.01% Y/Y to 136,388.
- Previously: AutoNation EPS in-line, misses on revenue (May 1)