AutoNation's stock up 2% premarket after earnings fall but beat consensus estimates
AutoNation Inc.'s stock (AN) rose 2% in premarket trade Friday, after the new and used car retailer posted better-than-expected second-quarter earnings. Fort Lauderdale, Fla.-based AutoNation posted net income of $272.5 million, or $6.02 a share for the quarter, down from $376.3 million, or $6.48 a share, in the year-earlier period. Adjusted per-share earnings came to $6.29, comfortably ahead of the $5.91 FactSet consensus. Revenue rose to $6.890 billion from $6.869 billion a year ago, also ahead of the $6.779 billion FactSet consensus. Consumer demand for personal vehicle ownership remains strong, the company said in a statement. The stock has gained 65% in the year to date, while the S&P 500 has gained 18%.
-Ciara Linnane
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
07-21-23 0713ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
Why We Expect the Job Market’s Slowdown to Renew in 2024
-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
How to Invest Like Warren Buffett
-
Cognizant Earnings: Improved Profitability Buttresses Results as Customer Spending Remains Muted
-
10 Top-Performing Dividend Stocks of the Month
-
Marathon Petroleum Earnings: No Change to Competitive Position, but Shares Look Expensive
-
Charlie Munger and How Not to Invest
-
After Earnings, Is AT&T Stock a Buy, a Sell, or Fairly Valued?
-
Mastercard Earnings: A Stable Environment Highlights the Firm’s Strengths