Stock Monitor: China Auto Logistics Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 14, 2017 / Active-Investors free earnings report on AutoNation, Inc. (NYSE: AN) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=AN. The Company posted its financial results for the third quarter fiscal 2017, on November 02, 2017. The Company's sales and earnings declined on a y-o-y basis. Register today and get free access to our complimentary member's area where many more reports are available:
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Earnings Highlights and Summary
For three months ended September 30, 2017, AutoNation's total revenue decreased 2.4% to $5.43 billion from $5.57 billion in Q3 FY16. For the reported quarter, the Company's same-store revenue decreased 2.3% to $5.34 billion from $5.46 billion in Q3 FY16. The Company's total revenue was below analysts' expectations of $5.57 billion.
For the reported quarter, the Company's new vehicle revenue decreased 2.7% to $3.11 billion from $3.20 billion in Q3 FY16. For the reported quarter, the Company's used vehicle revenue decreased 3.8% to $1.23 billion from $1.28 billion in Q3 FY16. For the reported quarter, the Company's parts and service revenue decreased 0.3% to $841.6 million from $843.8 million in Q3 FY16. For the reported quarter, the Company's net finance and insurance revenue increased 5.2% to $241.6 million from $229.6 million in Q3 FY16.
During Q3 FY17, AutoNation's gross profit increased 1.1% to $845.9 million from $836.4 million in the same period last year. For the reported quarter, the Company's gross margin increased 60 basis points to 15.6% of revenue from 15.0% of revenue in the third quarter of last year. For the reported quarter, the Company's same-store gross profit increased 1.2% to $831.8 million from $822.2 million in Q3 FY16.
For the reported quarter, AutoNation's operating income decreased 3.6% to $211.2 million from $219.0 million in Q3 FY16. For the reported quarter, the Company's operating margin was 3.9% of revenue, on par with 3.9% of revenue in the third quarter of last year.
During Q3 FY17, AutoNation's earnings before tax (EBT) decreased 9.7% to $157.9 million from $174.8 million in the same period last year. For the reported quarter, the Company's EBT margin decreased 20 basis points to 2.9% of revenue from 3.1% of revenue in the third quarter of last year.
For the reported quarter, AutoNation's net income decreased 9.5% to $97.6 million from $107.8 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS decreased 4.8% to $1.00 from $1.05 in the same period last year. For the reported quarter, the Company's adjusted diluted EPS was $1.08. Adjusted diluted EPS surpassed analysts' expectations of $0.84.
AutoNation's Segment Details
Domestic - During Q3 FY17, the Domestic segment's revenue decreased 6.5% to $1.91 billion from $2.04 billion in the same period last year. For the reported quarter, the segment's income decreased 17.8% to $69 million from $83.9 million in Q3 FY16. For the reported quarter, the segment's retail new vehicle unit sale was 29,618 compared to 31,749 in Q3 FY16.
Import - During Q3 FY17, the Import segment's revenue increased 0.6% to $1.79 billion from $1.78 billion in the same period last year. For the reported quarter, the segment's income increased 2.1% to $81 million from $79.3 million in Q3 FY16. For the reported quarter, the segment's retail new vehicle unit sale was 40,442 compared to 39,390 in Q3 FY16.
Premium Luxury - During Q3 FY17, the Premium Luxury segment's revenue decreased 2.8% to $1.63 billion from $1.68 billion in the same period last year. For the reported quarter, the segment's income decreased 2.6% to $78.8 million from $80.9 million in Q3 FY16. For the reported quarter, the segment's retail new vehicle unit sale was 16,132 compared to 17,183 in Q3 FY16.
As on September 30, 2017, AutoNation's cash and cash equivalents decreased 17.7% to $53.3 million from $64.8 million on December 31, 2016.
During Q3 FY17, the Company repurchased 9.2 million shares for $400 million.
Stock Performance Snapshot
December 13, 2017 - At Wednesday's closing bell, AutoNation's stock marginally fell 0.40%, ending the trading session at $54.26.
Volume traded for the day: 903.19 thousand shares.
Stock performance in the last month – up 2.90%; previous three-month period – up 17.98%; past twelve-month period – up 13.07%; and year-to-date – up 11.53%
After yesterday's close, AutoNation's market cap was at $4.94 billion.
Price to Earnings (P/E) ratio was at 13.66.
The stock is part of the Services sector, categorized under the Auto Dealerships industry. This sector was up 0.2% at the end of the session.
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