FORT LAUDERDALE, Fla.,
Nov. 2, 2017 /PRNewswire/
-- AutoNation, Inc. (NYSE: AN), America's largest
automotive retailer, today reported third quarter 2017 net income
from continuing operations of $98
million, or $1.00 per share.
The Company estimates that Hurricane Irma negatively impacted third
quarter 2017 net income from continuing operations by approximately
$8 million after-tax, or $0.08 per share. For the third quarter of 2017,
AutoNation's retail vehicle unit sales were up 1%, or up 2% on a
same store basis, compared to the year-ago period. Third quarter
2016 net income from continuing operations totaled $108 million, or $1.05 per share.
Share Repurchase
During the third quarter of 2017, AutoNation repurchased 9.2
million shares of common stock for an aggregate purchase price of
$400 million. As of October 31, 2017, AutoNation has approximately
$114 million remaining Board
authorization for share repurchase and 91 million shares
outstanding.
Segment Results
Segment results(1) for the third quarter and first
nine months of 2017 were as follows:
Third Quarter 2017 Segment Results
- Domestic - Domestic segment income(2)
was $69 million compared to year-ago
segment income of $84 million, a
decrease of 18%.
- Import - Import segment income(2) was
$81 million compared to year-ago
segment income of $79 million, an
increase of 2%.
- Premium Luxury - Premium Luxury segment
income(2) was $79 million
compared to year-ago segment income of $81
million, a decrease of 3%.
First Nine Months 2017 Segment Results
- Domestic - Domestic segment income(2)
was $191 million compared to year-ago
segment income of $247 million, a
decrease of 23%.
- Import - Import segment income(2) was
$228 million compared to year-ago
segment income of
$230
million, a decrease of 1%.
- Premium Luxury - Premium Luxury segment
income(2) was $243 million
compared to year-ago segment income of $257
million, a decrease of 5%.
For the nine-month period ended September
30, 2017, the Company reported net income from continuing
operations of $284 million, or
$2.83 per share, compared to net
income from continuing operations of $316
million, or $3.02 per share,
for the same period in the prior year. The Company's revenue for
the nine-month period ended September 30,
2017, totaled $15.9 billion,
down 2% compared to $16.1 billion for
the same period in the prior year.
The third quarter conference call may be accessed by
telephone at 888-769-8515 (password: AutoNation) at 11:00 a.m. Eastern Time today or on
AutoNation's investor relations website at
investors.autonation.com.
The webcast will also be available on AutoNation's website
following the call under "Events & Presentations." A playback
of the conference call will be available after 1:00 p.m. Eastern Time on November 2, 2017 through November 16, 2017 by calling 800-925-4633
(passcode: 5481).
(1) AutoNation
has three reportable segments: Domestic, Import, and Premium
Luxury. The Domestic segment is comprised of stores that sell
vehicles manufactured by General Motors, Ford, and FCA US; the Import segment is comprised of
stores that sell vehicles manufactured primarily by Toyota, Honda,
Nissan, and Hyundai; and the Premium Luxury segment is comprised of
stores that sell vehicles manufactured primarily by Mercedes-Benz,
BMW, Lexus, and Audi.
(2) Segment
income represents income for each of our reportable segments and is
defined as operating income less floorplan interest expense.
About AutoNation, Inc.
AutoNation, America's
largest automotive retailer, through its bold leadership,
innovation and its comprehensive brand extensions, is transforming
the automotive industry. As of September 30,
2017, AutoNation owned and operated 361 new vehicle
franchises from coast to coast. AutoNation has sold over 11 million
vehicles, the first automotive retailer to reach this milestone.
AutoNation's success is driven by a commitment to delivering a
peerless experience through customer-focused sales and service
processes. Through its Drive Pink initiative, AutoNation is
committed to drive out cancer, create awareness and support
critical research. AutoNation continues to be a proud supporter of
the Breast Cancer Research Foundation and other cancer-related
charities.
Please visit investors.autonation.com, www.autonation.com,
www.autonationdrive.com, www.twitter.com/autonation,
www.twitter.com/CEOMikeJackson, www.facebook.com/autonation, and
www.facebook.com/CEOMikeJackson, where AutoNation discloses
additional information about the Company, its business, and its
results of operations.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical fact are, or may
be deemed to be, forward-looking statements. Words such as
"anticipates," "expects," "intends," "goals," "plans," "believes,"
"continues," "may," "will," "could," and variations of such words
and similar expressions are intended to identify such
forward-looking statements. Statements regarding our strategic
initiatives, including our brand extension strategies, open safety
recalls, and expectations for future results and the future
performance of our franchises (including with respect to sales of
used vehicles and parts and accessories) and the automotive retail
industry, as well as other statements that describe our objectives,
goals, or plans are forward-looking statements. Our forward-looking
statements reflect our current expectations concerning future
results and events, and they involve known and unknown risks,
uncertainties and other factors that are difficult to predict and
may cause our actual results, performance or achievements to be
materially different from any future results, performance and
achievements expressed or implied by these statements. These risks,
uncertainties and other factors include, among others: economic
conditions, including conditions in the credit markets and changes
in interest rates; new and used vehicle margins; the success and
financial viability and the incentive and marketing programs of
vehicle manufacturers and distributors with which we hold
franchises; our ability to successfully implement, and customer
adoption of, our brand extension strategies; our ability to
identify, acquire, and build out suitable locations in a timely
manner; our ability to maintain and enhance our retail brands and
reputation and to attract consumers to our own digital channels;
our ability to integrate successfully acquired and awarded
franchises and to attain planned sales volumes within our expected
time frames; restrictions imposed by vehicle manufacturers and our
ability to obtain manufacturer approval for acquisitions; natural
disasters and other adverse weather events; the resolution of legal
and administrative proceedings; regulatory factors affecting our
business, including fuel economy requirements; the announcement of
safety recalls; factors affecting our goodwill and other intangible
asset impairment testing; and other factors described in our news
releases and filings made under the securities laws, including,
among others, our Annual Reports on Form 10-K, our Quarterly
Reports on Form 10-Q and our Current Reports on Form 8-K.
Forward-looking statements contained in this news release speak
only as of the date of this news release, and we undertake no
obligation to update these forward-looking statements to reflect
subsequent events or circumstances.
AUTONATION,
INC.
|
UNAUDITED CONDENSED
CONSOLIDATED INCOME STATEMENTS
|
(In millions, except
per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
|
|
2017
|
|
2016
|
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
3,108.4
|
$
|
3,195.9
|
|
$
|
8,835.5
|
$
|
9,068.0
|
|
Used
vehicle
|
|
1,228.3
|
|
1,276.8
|
|
|
3,670.3
|
|
3,777.8
|
|
Parts and
service
|
|
841.6
|
|
843.8
|
|
|
2,544.2
|
|
2,498.9
|
|
Finance and
insurance, net
|
|
241.6
|
|
229.6
|
|
|
692.0
|
|
678.1
|
|
Other
|
|
12.5
|
|
21.4
|
|
|
109.1
|
|
105.7
|
Total
revenue
|
|
5,432.4
|
|
5,567.5
|
|
|
15,851.1
|
|
16,128.5
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales:
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
2,963.6
|
|
3,037.7
|
|
|
8,408.2
|
|
8,597.8
|
|
Used
vehicle
|
|
1,142.6
|
|
1,199.6
|
|
|
3,433.1
|
|
3,525.6
|
|
Parts and
service
|
|
474.2
|
|
480.0
|
|
|
1,428.2
|
|
1,418.8
|
|
Other
|
|
6.1
|
|
13.8
|
|
|
89.8
|
|
82.2
|
Total cost of
sales
|
|
4,586.5
|
|
4,731.1
|
|
|
13,359.3
|
|
13,624.4
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
845.9
|
|
836.4
|
|
|
2,491.8
|
|
2,504.1
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
607.5
|
|
591.3
|
|
|
1,814.1
|
|
1,765.2
|
Depreciation and
amortization
|
|
41.4
|
|
36.3
|
|
|
118.0
|
|
107.0
|
Other income,
net
|
|
(14.2)
|
|
(10.2)
|
|
|
(54.4)
|
|
(21.0)
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
211.2
|
|
219.0
|
|
|
614.1
|
|
652.9
|
|
|
|
|
|
|
|
|
|
|
|
Non-operating income
(expense) items:
|
|
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
|
(25.1)
|
|
(18.2)
|
|
|
(70.7)
|
|
(56.4)
|
|
Other interest
expense
|
|
(30.0)
|
|
(28.9)
|
|
|
(88.0)
|
|
(85.9)
|
|
Interest
income
|
|
0.2
|
|
0.3
|
|
|
0.8
|
|
0.8
|
|
Other income,
net
|
|
1.6
|
|
2.6
|
|
|
6.4
|
|
3.4
|
|
|
|
|
|
|
|
|
|
|
|
Income from
continuing operations before income taxes
|
|
157.9
|
|
174.8
|
|
|
462.6
|
|
514.8
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
provision
|
|
60.3
|
|
67.0
|
|
|
179.1
|
|
198.7
|
|
|
|
|
|
|
|
|
|
|
|
Net income from
continuing operations
|
|
97.6
|
|
107.8
|
|
|
283.5
|
|
316.1
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
discontinued operations, net of income taxes
|
|
(0.1)
|
|
(0.5)
|
|
|
(0.2)
|
|
(0.9)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
97.5
|
$
|
107.3
|
|
$
|
283.3
|
$
|
315.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings
(loss) per share*:
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
$
|
1.00
|
$
|
1.05
|
|
$
|
2.83
|
$
|
3.02
|
|
Discontinued
operations
|
$
|
-
|
$
|
-
|
|
$
|
-
|
$
|
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
1.00
|
$
|
1.05
|
|
$
|
2.82
|
$
|
3.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
common shares outstanding
|
|
97.7
|
|
102.6
|
|
|
100.3
|
|
104.5
|
|
|
|
|
|
|
|
|
|
|
|
Common shares
outstanding, net of treasury stock, at period end
|
|
91.2
|
|
101.2
|
|
|
91.2
|
|
101.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Earnings per share
amounts are calculated discretely and therefore may not add up to
the total due to rounding.
|
AUTONATION,
INC.
|
UNAUDITED
SUPPLEMENTARY DATA
|
($ in millions,
except per vehicle data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Highlights
|
|
Three Months Ended
September 30,
|
|
|
Nine Months
Ended September 30,
|
|
|
|
|
2017
|
|
2016
|
|
$ Variance
|
|
% Variance
|
|
|
2017
|
|
2016
|
|
$ Variance
|
|
% Variance
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
3,108.4
|
$
|
3,195.9
|
$
|
(87.5)
|
|
(2.7)
|
|
$
|
8,835.5
|
$
|
9,068.0
|
$
|
(232.5)
|
|
(2.6)
|
|
|
Retail used
vehicle
|
|
1,151.5
|
|
1,127.9
|
|
23.6
|
|
2.1
|
|
|
3,438.7
|
|
3,370.4
|
|
68.3
|
|
2.0
|
|
|
Wholesale
|
|
76.8
|
|
148.9
|
|
(72.1)
|
|
(48.4)
|
|
|
231.6
|
|
407.4
|
|
(175.8)
|
|
(43.2)
|
|
|
Used
vehicle
|
|
1,228.3
|
|
1,276.8
|
|
(48.5)
|
|
(3.8)
|
|
|
3,670.3
|
|
3,777.8
|
|
(107.5)
|
|
(2.8)
|
|
|
Finance and
insurance, net
|
|
241.6
|
|
229.6
|
|
12.0
|
|
5.2
|
|
|
692.0
|
|
678.1
|
|
13.9
|
|
2.0
|
|
Total variable
operations
|
|
4,578.3
|
|
4,702.3
|
|
(124.0)
|
|
(2.6)
|
|
|
13,197.8
|
|
13,523.9
|
|
(326.1)
|
|
(2.4)
|
|
Parts and
service
|
|
841.6
|
|
843.8
|
|
(2.2)
|
|
(0.3)
|
|
|
2,544.2
|
|
2,498.9
|
|
45.3
|
|
1.8
|
|
Other
|
|
12.5
|
|
21.4
|
|
(8.9)
|
|
|
|
|
109.1
|
|
105.7
|
|
3.4
|
|
|
Total
revenue
|
$
|
5,432.4
|
$
|
5,567.5
|
$
|
(135.1)
|
|
(2.4)
|
|
$
|
15,851.1
|
$
|
16,128.5
|
$
|
(277.4)
|
|
(1.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
144.8
|
$
|
158.2
|
$
|
(13.4)
|
|
(8.5)
|
|
$
|
427.3
|
$
|
470.2
|
$
|
(42.9)
|
|
(9.1)
|
|
|
Retail used
vehicle
|
|
83.9
|
|
84.7
|
|
(0.8)
|
|
(0.9)
|
|
|
232.8
|
|
265.1
|
|
(32.3)
|
|
(12.2)
|
|
|
Wholesale
|
|
1.8
|
|
(7.5)
|
|
9.3
|
|
|
|
|
4.4
|
|
(12.9)
|
|
17.3
|
|
|
|
|
Used
vehicle
|
|
85.7
|
|
77.2
|
|
8.5
|
|
11.0
|
|
|
237.2
|
|
252.2
|
|
(15.0)
|
|
(5.9)
|
|
|
Finance and
insurance
|
|
241.6
|
|
229.6
|
|
12.0
|
|
5.2
|
|
|
692.0
|
|
678.1
|
|
13.9
|
|
2.0
|
|
Total variable
operations
|
|
472.1
|
|
465.0
|
|
7.1
|
|
1.5
|
|
|
1,356.5
|
|
1,400.5
|
|
(44.0)
|
|
(3.1)
|
|
Parts and
service
|
|
367.4
|
|
363.8
|
|
3.6
|
|
1.0
|
|
|
1,116.0
|
|
1,080.1
|
|
35.9
|
|
3.3
|
|
Other
|
|
6.4
|
|
7.6
|
|
(1.2)
|
|
|
|
|
19.3
|
|
23.5
|
|
(4.2)
|
|
|
Total gross
profit
|
|
845.9
|
|
836.4
|
|
9.5
|
|
1.1
|
|
|
2,491.8
|
|
2,504.1
|
|
(12.3)
|
|
(0.5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
607.5
|
|
591.3
|
|
(16.2)
|
|
(2.7)
|
|
|
1,814.1
|
|
1,765.2
|
|
(48.9)
|
|
(2.8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
41.4
|
|
36.3
|
|
(5.1)
|
|
|
|
|
118.0
|
|
107.0
|
|
(11.0)
|
|
|
Other income,
net
|
|
(14.2)
|
|
(10.2)
|
|
4.0
|
|
|
|
|
(54.4)
|
|
(21.0)
|
|
33.4
|
|
|
Operating
income
|
|
211.2
|
|
219.0
|
|
(7.8)
|
|
(3.6)
|
|
|
614.1
|
|
652.9
|
|
(38.8)
|
|
(5.9)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-operating income
(expense) items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
|
(25.1)
|
|
(18.2)
|
|
(6.9)
|
|
|
|
|
(70.7)
|
|
(56.4)
|
|
(14.3)
|
|
|
|
|
Other interest
expense
|
|
(30.0)
|
|
(28.9)
|
|
(1.1)
|
|
|
|
|
(88.0)
|
|
(85.9)
|
|
(2.1)
|
|
|
|
|
Interest
income
|
|
0.2
|
|
0.3
|
|
(0.1)
|
|
|
|
|
0.8
|
|
0.8
|
|
-
|
|
|
|
|
Other income,
net
|
|
1.6
|
|
2.6
|
|
(1.0)
|
|
|
|
|
6.4
|
|
3.4
|
|
3.0
|
|
|
Income from
continuing operations before income taxes
|
$
|
157.9
|
$
|
174.8
|
$
|
(16.9)
|
|
(9.7)
|
|
$
|
462.6
|
$
|
514.8
|
$
|
(52.2)
|
|
(10.1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle unit
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
86,192
|
|
88,322
|
|
(2,130)
|
|
(2.4)
|
|
|
241,882
|
|
253,000
|
|
(11,118)
|
|
(4.4)
|
|
|
Used
|
|
59,330
|
|
55,760
|
|
3,570
|
|
6.4
|
|
|
178,204
|
|
170,500
|
|
7,704
|
|
4.5
|
|
|
|
|
145,522
|
|
144,082
|
|
1,440
|
|
1.0
|
|
|
420,086
|
|
423,500
|
|
(3,414)
|
|
(0.8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per vehicle
retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
|
36,064
|
$
|
36,185
|
$
|
(121)
|
|
(0.3)
|
|
$
|
36,528
|
$
|
35,842
|
$
|
686
|
|
1.9
|
|
|
Used
|
$
|
19,408
|
$
|
20,228
|
$
|
(820)
|
|
(4.1)
|
|
$
|
19,296
|
$
|
19,768
|
$
|
(472)
|
|
(2.4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit per
vehicle retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
|
1,680
|
$
|
1,791
|
$
|
(111)
|
|
(6.2)
|
|
$
|
1,767
|
$
|
1,858
|
$
|
(91)
|
|
(4.9)
|
|
|
Used
|
$
|
1,414
|
$
|
1,519
|
$
|
(105)
|
|
(6.9)
|
|
$
|
1,306
|
$
|
1,555
|
$
|
(249)
|
|
(16.0)
|
|
|
Finance and
insurance
|
$
|
1,660
|
$
|
1,594
|
$
|
66
|
|
4.1
|
|
$
|
1,647
|
$
|
1,601
|
$
|
46
|
|
2.9
|
|
|
Total variable
operations(1)
|
$
|
3,232
|
$
|
3,279
|
$
|
(47)
|
|
(1.4)
|
|
$
|
3,219
|
$
|
3,337
|
$
|
(118)
|
|
(3.5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Percentages
|
|
Three Months
Ended September 30,
|
|
Nine Months
Ended September 30,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 (%)
|
|
2016 (%)
|
|
2017 (%)
|
|
2016 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
57.2
|
|
57.4
|
|
55.7
|
|
56.2
|
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
22.6
|
|
22.9
|
|
23.2
|
|
23.4
|
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
15.5
|
|
15.2
|
|
16.1
|
|
15.5
|
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance, net
|
|
4.4
|
|
4.1
|
|
4.4
|
|
4.2
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.3
|
|
0.4
|
|
0.6
|
|
0.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
17.1
|
|
18.9
|
|
17.1
|
|
18.8
|
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
10.1
|
|
9.2
|
|
9.5
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
43.4
|
|
43.5
|
|
44.8
|
|
43.1
|
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance
|
|
28.6
|
|
27.5
|
|
27.8
|
|
27.1
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.8
|
|
0.9
|
|
0.8
|
|
0.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
4.7
|
|
5.0
|
|
4.8
|
|
5.2
|
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle - retail
|
|
7.3
|
|
7.5
|
|
6.8
|
|
7.9
|
|
|
|
|
|
|
|
|
|
|
|
Parts
and service
|
|
43.7
|
|
43.1
|
|
43.9
|
|
43.2
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
15.6
|
|
15.0
|
|
15.7
|
|
15.5
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
11.2
|
|
10.6
|
|
11.4
|
|
10.9
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
3.9
|
|
3.9
|
|
3.9
|
|
4.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of total gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
71.8
|
|
70.7
|
|
72.8
|
|
70.5
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
25.0
|
|
26.2
|
|
24.6
|
|
26.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Total variable
operations gross profit per vehicle retailed is calculated by
dividing the sum of new vehicle, retail used vehicle, and finance
and insurance gross profit by total retail vehicle unit
sales.
|
|
|
|
|
|
|
|
|
|
AUTONATION,
INC.
|
UNAUDITED
SUPPLEMENTARY DATA
|
($ in
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Operating
Highlights
|
|
Three Months Ended
September 30,
|
|
|
Nine Months
Ended September 30,
|
|
|
|
2017
|
|
2016
|
|
$ Variance
|
|
% Variance
|
|
|
2017
|
|
2016
|
|
$ Variance
|
|
% Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
$
|
1,912.4
|
$
|
2,044.9
|
$
|
(132.5)
|
|
(6.5)
|
|
$
|
5,557.7
|
$
|
5,888.2
|
$
|
(330.5)
|
|
(5.6)
|
|
Import
|
|
1,789.7
|
|
1,779.0
|
|
10.7
|
|
0.6
|
|
|
5,123.5
|
|
5,202.1
|
|
(78.6)
|
|
(1.5)
|
|
Premium
luxury
|
|
1,634.3
|
|
1,680.6
|
|
(46.3)
|
|
(2.8)
|
|
|
4,894.9
|
|
4,865.6
|
|
29.3
|
|
0.6
|
|
Total
|
|
5,336.4
|
|
5,504.5
|
|
(168.1)
|
|
(3.1)
|
|
|
15,576.1
|
|
15,955.9
|
|
(379.8)
|
|
(2.4)
|
|
Corporate and
other
|
|
96.0
|
|
63.0
|
|
33.0
|
|
52.4
|
|
|
275.0
|
|
172.6
|
|
102.4
|
|
59.3
|
|
Total consolidated revenue
|
$
|
5,432.4
|
$
|
5,567.5
|
$
|
(135.1)
|
|
(2.4)
|
|
$
|
15,851.1
|
$
|
16,128.5
|
$
|
(277.4)
|
|
(1.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment
income*:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
$
|
69.0
|
$
|
83.9
|
$
|
(14.9)
|
|
(17.8)
|
|
$
|
190.5
|
$
|
246.9
|
$
|
(56.4)
|
|
(22.8)
|
|
Import
|
|
81.0
|
|
79.3
|
|
1.7
|
|
2.1
|
|
|
227.9
|
|
230.0
|
|
(2.1)
|
|
(0.9)
|
|
Premium
luxury
|
|
78.8
|
|
80.9
|
|
(2.1)
|
|
(2.6)
|
|
|
243.3
|
|
256.8
|
|
(13.5)
|
|
(5.3)
|
|
Total
|
|
228.8
|
|
244.1
|
|
(15.3)
|
|
(6.3)
|
|
|
661.7
|
|
733.7
|
|
(72.0)
|
|
(9.8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
other
|
|
(42.7)
|
|
(43.3)
|
|
0.6
|
|
|
|
|
(118.3)
|
|
(137.2)
|
|
18.9
|
|
|
Add: Floorplan
interest expense
|
|
25.1
|
|
18.2
|
|
6.9
|
|
|
|
|
70.7
|
|
56.4
|
|
14.3
|
|
|
Operating
income
|
$
|
211.2
|
$
|
219.0
|
$
|
(7.8)
|
|
(3.6)
|
|
$
|
614.1
|
$
|
652.9
|
$
|
(38.8)
|
|
(5.9)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Segment income
represents income for each of our reportable segments and is
defined as operating income less floorplan interest
expense.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicle
unit sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
29,618
|
|
31,749
|
|
(2,131)
|
|
(6.7)
|
|
|
82,765
|
|
90,156
|
|
(7,391)
|
|
(8.2)
|
|
Import
|
|
40,442
|
|
39,390
|
|
1,052
|
|
2.7
|
|
|
111,781
|
|
113,517
|
|
(1,736)
|
|
(1.5)
|
|
Premium
luxury
|
|
16,132
|
|
17,183
|
|
(1,051)
|
|
(6.1)
|
|
|
47,336
|
|
49,327
|
|
(1,991)
|
|
(4.0)
|
|
|
|
86,192
|
|
88,322
|
|
(2,130)
|
|
(2.4)
|
|
|
241,882
|
|
253,000
|
|
(11,118)
|
|
(4.4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brand Mix - Retail
New Vehicle Units Sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended September 30,
|
|
Nine Months
Ended September 30,
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 (%)
|
|
2016 (%)
|
|
2017 (%)
|
|
2016 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ford,
Lincoln
|
|
14.2
|
|
15.0
|
|
13.8
|
|
15.0
|
|
|
|
|
|
|
|
|
|
|
Chevrolet, Buick, Cadillac, GMC
|
|
10.8
|
|
11.2
|
|
10.6
|
|
11.2
|
|
|
|
|
|
|
|
|
|
|
Chrysler, Dodge, Jeep, Ram
|
|
9.4
|
|
9.7
|
|
9.8
|
|
9.4
|
|
|
|
|
|
|
|
|
|
|
Domestic total
|
|
34.4
|
|
35.9
|
|
34.2
|
|
35.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Import:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Toyota
|
|
19.5
|
|
18.0
|
|
18.9
|
|
17.6
|
|
|
|
|
|
|
|
|
|
|
Honda
|
|
13.2
|
|
12.6
|
|
13.2
|
|
12.6
|
|
|
|
|
|
|
|
|
|
|
Nissan
|
|
6.8
|
|
7.1
|
|
6.9
|
|
7.9
|
|
|
|
|
|
|
|
|
|
|
Other
Import
|
|
7.4
|
|
6.9
|
|
7.2
|
|
6.8
|
|
|
|
|
|
|
|
|
|
|
Import total
|
|
46.9
|
|
44.6
|
|
46.2
|
|
44.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premium
Luxury:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mercedes-Benz
|
|
6.9
|
|
8.1
|
|
7.6
|
|
8.2
|
|
|
|
|
|
|
|
|
|
|
BMW
|
|
4.0
|
|
4.4
|
|
4.4
|
|
4.3
|
|
|
|
|
|
|
|
|
|
|
Lexus
|
|
2.6
|
|
2.5
|
|
2.5
|
|
2.6
|
|
|
|
|
|
|
|
|
|
|
Audi
|
|
2.3
|
|
2.2
|
|
2.3
|
|
2.2
|
|
|
|
|
|
|
|
|
|
|
Other
Premium Luxury (Land Rover, Porsche)
|
|
2.9
|
|
2.3
|
|
2.8
|
|
2.2
|
|
|
|
|
|
|
|
|
|
|
Premium Luxury
total
|
|
18.7
|
|
19.5
|
|
19.6
|
|
19.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
AUTONATION,
INC
|
UNAUDITED
SUPPLEMENTARY DATA, Continued
|
($ in
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
Expenditures / Stock Repurchases
|
|
Three Months
Ended September 30,
|
|
Nine Months
Ended September 30,
|
|
|
|
|
|
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
(1)
|
$
|
55.9
|
$
|
69.3
|
$
|
224.6
|
$
|
181.7
|
|
|
|
|
|
Cash paid for
acquisitions, net of cash acquired (2)
|
$
|
4.0
|
$
|
99.6
|
$
|
56.9
|
$
|
362.5
|
|
|
|
|
|
Proceeds from
exercises of stock options
|
$
|
1.9
|
$
|
4.6
|
$
|
24.7
|
$
|
7.8
|
|
|
|
|
|
Stock
repurchases:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate purchase
price
|
$
|
400.0
|
$
|
50.0
|
$
|
434.9
|
$
|
470.6
|
|
|
|
|
|
|
Shares repurchased
(in millions)
|
|
9.2
|
|
1.0
|
|
10.1
|
|
9.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan
Assistance and Expense
|
|
Three Months
Ended September 30,
|
|
Nine Months
Ended September 30,
|
|
|
|
|
2017
|
|
2016
|
|
Variance
|
|
2017
|
|
2016
|
|
Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan assistance
earned (included in cost of sales)
|
$
|
31.1
|
$
|
31.8
|
$
|
(0.7)
|
$
|
88.7
|
$
|
92.4
|
$
|
(3.7)
|
|
New vehicle floorplan
interest expense
|
|
(23.4)
|
|
(16.9)
|
|
(6.5)
|
|
(66.2)
|
|
(52.9)
|
|
(13.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net new vehicle
inventory carrying benefit
|
$
|
7.7
|
$
|
14.9
|
$
|
(7.2)
|
$
|
22.5
|
$
|
39.5
|
$
|
(17.0)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet and
Other Highlights
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2017
|
|
December 31,
2016
|
|
September 30,
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
53.3
|
$
|
64.8
|
$
|
62.2
|
|
|
|
|
|
|
|
Inventory
|
$
|
3,408.6
|
$
|
3,520.1
|
$
|
3,448.0
|
|
|
|
|
|
|
|
Total floorplan notes
payable
|
$
|
3,630.5
|
$
|
3,849.2
|
$
|
3,539.5
|
|
|
|
|
|
|
|
Non-vehicle
debt
|
$
|
2,857.6
|
$
|
2,720.6
|
$
|
2,757.8
|
|
|
|
|
|
|
|
Equity
|
$
|
2,200.5
|
$
|
2,310.3
|
$
|
2,220.8
|
|
|
|
|
|
|
|
New days supply
(industry standard of selling days)
|
|
59
days
|
|
61
days
|
|
62
days
|
|
|
|
|
|
|
|
Used days supply
(trailing calendar month days)
|
|
38
days
|
|
44
days
|
|
44
days
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key Credit
Agreement Covenant Compliance
Calculations(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Leverage
ratio
|
|
|
|
3.03x
|
|
|
|
|
|
|
|
|
|
Covenant
|
less than or equal
to
|
|
3.75x
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capitalization
ratio
|
|
|
|
63.4%
|
|
|
|
|
|
|
|
|
|
Covenant
|
less than or equal
to
|
|
70.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Includes accrued
construction in progress and excludes property associated with
capital leases entered into during the period
|
|
|
|
|
|
|
|
|
|
(2)
|
Excludes capital
leases and deferred purchase price commitments
|
|
|
|
|
|
|
|
|
|
(3)
|
Calculated in
accordance with our credit agreement as filed with the
SEC
|
|
|
|
|
|
|
|
|
AUTONATION,
INC.
|
UNAUDITED SAME
STORE DATA
|
($ in millions,
except per vehicle data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Highlights
|
|
Three Months Ended
September 30,
|
|
|
Nine Months
Ended September 30,
|
|
|
|
|
2017
|
|
2016
|
|
$ Variance
|
|
% Variance
|
|
|
2017
|
|
2016
|
|
$ Variance
|
|
% Variance
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
3,061.2
|
$
|
3,135.1
|
$
|
(73.9)
|
|
(2.4)
|
|
$
|
8,594.4
|
$
|
8,829.4
|
$
|
(235.0)
|
|
(2.7)
|
|
|
Retail used
vehicle
|
|
1,124.9
|
|
1,106.1
|
|
18.8
|
|
1.7
|
|
|
3,340.2
|
|
3,272.1
|
|
68.1
|
|
2.1
|
|
|
Wholesale
|
|
73.3
|
|
145.8
|
|
(72.5)
|
|
(49.7)
|
|
|
221.8
|
|
395.0
|
|
(173.2)
|
|
(43.8)
|
|
|
Used
vehicle
|
|
1,198.2
|
|
1,251.9
|
|
(53.7)
|
|
(4.3)
|
|
|
3,562.0
|
|
3,667.1
|
|
(105.1)
|
|
(2.9)
|
|
|
Finance and
insurance, net
|
|
238.8
|
|
226.3
|
|
12.5
|
|
5.5
|
|
|
679.3
|
|
662.6
|
|
16.7
|
|
2.5
|
|
Total variable
operations
|
|
4,498.2
|
|
4,613.3
|
|
(115.1)
|
|
(2.5)
|
|
|
12,835.7
|
|
13,159.1
|
|
(323.4)
|
|
(2.5)
|
|
Parts and
service
|
|
828.6
|
|
827.8
|
|
0.8
|
|
0.1
|
|
|
2,480.4
|
|
2,428.3
|
|
52.1
|
|
2.1
|
|
Other
|
|
12.6
|
|
21.5
|
|
(8.9)
|
|
|
|
|
108.9
|
|
105.5
|
|
3.4
|
|
|
Total
revenue
|
$
|
5,339.4
|
$
|
5,462.6
|
$
|
(123.2)
|
|
(2.3)
|
|
$
|
15,425.0
|
$
|
15,692.9
|
$
|
(267.9)
|
|
(1.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
|
142.2
|
$
|
155.9
|
$
|
(13.7)
|
|
(8.8)
|
|
$
|
414.3
|
$
|
462.5
|
$
|
(48.2)
|
|
(10.4)
|
|
|
Retail used
vehicle
|
|
83.3
|
|
83.0
|
|
0.3
|
|
0.4
|
|
|
228.5
|
|
257.8
|
|
(29.3)
|
|
(11.4)
|
|
|
Wholesale
|
|
(0.6)
|
|
(7.1)
|
|
6.5
|
|
|
|
|
-
|
|
(11.8)
|
|
11.8
|
|
|
|
|
Used
vehicle
|
|
82.7
|
|
75.9
|
|
6.8
|
|
9.0
|
|
|
228.5
|
|
246.0
|
|
(17.5)
|
|
(7.1)
|
|
|
Finance and
insurance
|
|
238.8
|
|
226.3
|
|
12.5
|
|
5.5
|
|
|
679.3
|
|
662.6
|
|
16.7
|
|
2.5
|
|
Total variable
operations
|
|
463.7
|
|
458.1
|
|
5.6
|
|
1.2
|
|
|
1,322.1
|
|
1,371.1
|
|
(49.0)
|
|
(3.6)
|
|
Parts and
service
|
|
361.7
|
|
356.5
|
|
5.2
|
|
1.5
|
|
|
1,088.5
|
|
1,048.7
|
|
39.8
|
|
3.8
|
|
Other
|
|
6.4
|
|
7.6
|
|
(1.2)
|
|
|
|
|
19.0
|
|
23.2
|
|
(4.2)
|
|
|
Total gross
profit
|
$
|
831.8
|
$
|
822.2
|
$
|
9.6
|
|
1.2
|
|
$
|
2,429.6
|
$
|
2,443.0
|
$
|
(13.4)
|
|
(0.5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle unit
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
|
85,186
|
|
86,389
|
|
(1,203)
|
|
(1.4)
|
|
|
236,374
|
|
245,114
|
|
(8,740)
|
|
(3.6)
|
|
|
Used
|
|
57,984
|
|
54,394
|
|
3,590
|
|
6.6
|
|
|
173,128
|
|
164,180
|
|
8,948
|
|
5.5
|
|
|
|
|
143,170
|
|
140,783
|
|
2,387
|
|
1.7
|
|
|
409,502
|
|
409,294
|
|
208
|
|
0.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per vehicle
retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
|
35,935
|
$
|
36,290
|
$
|
(355)
|
|
(1.0)
|
|
$
|
36,359
|
$
|
36,022
|
$
|
337
|
|
0.9
|
|
|
Used
|
$
|
19,400
|
$
|
20,335
|
$
|
(935)
|
|
(4.6)
|
|
$
|
19,293
|
$
|
19,930
|
$
|
(637)
|
|
(3.2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit per
vehicle retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
|
1,669
|
$
|
1,805
|
$
|
(136)
|
|
(7.5)
|
|
$
|
1,753
|
$
|
1,887
|
$
|
(134)
|
|
(7.1)
|
|
|
Used
|
$
|
1,437
|
$
|
1,526
|
$
|
(89)
|
|
(5.8)
|
|
$
|
1,320
|
$
|
1,570
|
$
|
(250)
|
|
(15.9)
|
|
|
Finance and
insurance
|
$
|
1,668
|
$
|
1,607
|
$
|
61
|
|
3.8
|
|
$
|
1,659
|
$
|
1,619
|
$
|
40
|
|
2.5
|
|
|
Total variable
operations(1)
|
$
|
3,243
|
$
|
3,304
|
$
|
(61)
|
|
(1.8)
|
|
$
|
3,229
|
$
|
3,379
|
$
|
(150)
|
|
(4.4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Percentages
|
|
Three Months
Ended September 30,
|
|
Nine Months
Ended September 30,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 (%)
|
|
2016 (%)
|
|
2017 (%)
|
|
2016 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
57.3
|
|
57.4
|
|
55.7
|
|
56.3
|
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
22.4
|
|
22.9
|
|
23.1
|
|
23.4
|
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
15.5
|
|
15.2
|
|
16.1
|
|
15.5
|
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance, net
|
|
4.5
|
|
4.1
|
|
4.4
|
|
4.2
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.3
|
|
0.4
|
|
0.7
|
|
0.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
17.1
|
|
19.0
|
|
17.1
|
|
18.9
|
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
|
9.9
|
|
9.2
|
|
9.4
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
|
43.5
|
|
43.4
|
|
44.8
|
|
42.9
|
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance
|
|
28.7
|
|
27.5
|
|
28.0
|
|
27.1
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
0.8
|
|
0.9
|
|
0.7
|
|
1.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
|
4.6
|
|
5.0
|
|
4.8
|
|
5.2
|
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle - retail
|
|
7.4
|
|
7.5
|
|
6.8
|
|
7.9
|
|
|
|
|
|
|
|
|
|
|
|
Parts
and service
|
|
43.7
|
|
43.1
|
|
43.9
|
|
43.2
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
15.6
|
|
15.1
|
|
15.8
|
|
15.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
Total variable
operations gross profit per vehicle retailed is calculated by
dividing the sum of new vehicle, retail used vehicle, and finance
and insurance gross profit by total retail vehicle unit
sales.
|
|
|
|
|
|
|
|
|
|
View original content with
multimedia:http://www.prnewswire.com/news-releases/autonation-reports-third-quarter-2017-results-300547808.html
SOURCE AutoNation, Inc.