📈 Price History

Ratio Health

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— Good

— Average

— Poor

By Category

📊 Sector Averages

About

AutoNation, Inc., through its subsidiaries, operates as an automotive retailer in the United States.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding AN

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	91.5K	$17.9M	0.03%	Mar 2026
Steve Cohen Point72 Asset Management	9.3K	$1.8M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management used phrases like 'outstanding second quarter', 'material improvements', 'strong performance' and provided specific growth percentages (new vehicle sales +8%, after sales gross profit +12%, CFS +13%) and operational metrics (e.g., technician headcount +3%, AN Finance originations doubled). The tone was assured and data-rich.

Q3 2025

Confident Specific

Management used phrases like 'very pleased to report our strong third quarter', 'delivered 25% adjusted EPS growth', 'strong cash flow', and provided specific percentages and metrics throughout, indicating assuredness backed by quantitative results.

Q4 2025

Confident Specific

Management repeatedly highlighted specific achievements: 16% adjusted EPS growth, $1B+ free cash flow (up 39%), 10% share count reduction. They acknowledged headwinds (tariff pull‑ahead, EV incentive expiry) but framed them as navigated successfully, using phrases like 'solid year of growth' and 'disciplined'.

Q1 2026 latest

Confident Specific

Management uses phrases like 'very pleased', 'solid first quarter', 'strong operating performance', and repeatedly emphasizes disciplined capital deployment and consistent EPS growth, while acknowledging industry challenges like tariff pull-forward and affordability headwinds.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis remains intact but with near-term headwinds. AutoNation delivered a fifth consecutive EPS beat and strong cash flow, underscoring the durability of its after-sales and finance businesses. However, the removal of the 2026 outlook and cautious industry commentary (affordability, tariffs, consumer confidence) signal potential volume and margin pressure ahead. The elevated SG&A from strategic investments will need to show tangible returns to sustain earnings growth. The aggressive buyback pace supports EPS but adds leverage. Key to watch: new vehicle GPU trajectory, used vehicle profitability progress toward $2,000/unit, AN Finance scaling without credit deterioration, and SG&A moderation toward the 66-67% target. Overall, the thesis is slightly weaker near-term due to macro uncertainty, but the long-term earnings power from after-sales and captive finance provides a solid floor.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED AutoNation Q1 2026: 5th consecutive adjusted EPS growth to $4.69, After-Sales record

Revenue & Profitability

Total revenue was $6.6 billion, down from $6.7 billion a year ago. Adjusted earnings per share was $4.69, up year-over-year and the fifth consecutive quarter of growth. Adjusted operating income was $312 million, down 7% year-over-year. Gross profit was $1.2 billion, flat year-over-year. Adjusted free cash flow was $256 million, representing 155% of adjusted net income. The company deployed $350 million in capital, including $300 million in share repurchases.

Outlook

Management sees significant affordability headwinds due to inflation, rising fuel prices, and interest rates, which are constraining new and used vehicle demand. Industry volumes are expected to remain below the initial 5% decline forecast until these pressures ease. However, deferred purchases are expected to boost After-Sales activity, as aging vehicles require more maintenance. Margin compression could occur but would be acceptable if it unlocks pent-up demand.

Growth Drivers

Key growth levers include After-Sales, which delivered mid-single-digit growth and a record quarter; Customer Financial Services, with per-unit profit up 6% to a record; and AutoNation Finance, whose profit nearly equaled the entire 2025 total in Q1 alone. Used vehicle profitability is expected to improve as lease returns increase and the company optimizes sourcing and reconditioning. The company is also investing in upper-funnel marketing to build brand awareness and drive volume.

Balance Sheet & CapEx

Capital expenditures in Q1 were light at a 0.9x depreciation ratio due to timing. Full-year CapEx is expected to be between $300 million and $325 million. Investments are focused on technology, including AI deployed at scale in service centers and back office, as well as marketing (upper-funnel spending) to build brand awareness. Some investments are exploratory and may not immediately yield returns.

Margins

Gross margin improved 30 basis points to 18.5% of revenue. Adjusted SG&A as a percentage of gross profit was 69.8%, above the targeted 66-67% range due to investments in marketing, technology, and unfavorable self-insurance experience (including weather events). Management expects SG&A to moderate sequentially but remain above target for the rest of 2026. Operating margin of 4.8% remains nearly 100 basis points above pre-pandemic levels.

Key Risks

Management highlighted affordability headwinds from inflation, fuel prices, and interest rates as the primary risk to industry demand. Geopolitical uncertainty (e.g., the Iran war) compounds the issue. Self-insurance experience, including weather-related claims, added about $5 million in SG&A in Q1. There is also risk that deferred purchases may not materialize quickly, and that margin compression may not be fully offset by volume gains.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-31

Adjusted EPS grew for the sixth straight quarter, driven by record after-sales and strong CFS performance. Free cash flow rose 11% year-to-date, with disciplined capital deployment in M&A and buybacks. After-sales and finance segments are expected to sustain growth, with stable margins and robust cash generation.

Q1 2026 Q1 2026 2026-05-01

Delivered fifth consecutive quarter of year-over-year adjusted EPS growth, driven by record After-Sales and strong Customer Financial Services, despite industry headwinds and lower new vehicle sales. Robust cash flow enabled significant share repurchases and ongoing strategic investments.

Q4 2025 Q4 2025 2026-02-06

Delivered 3% revenue and 8% adjusted net income growth for 2025, with strong cash flow and disciplined capital allocation. New vehicle sales declined in Q4, but after-sales and finance segments showed robust performance. Outlook for 2026 is cautious, with stable profitability and continued focus on operational efficiency.

Q3 2025 Q3 2025 2025-10-23

Q3 saw 25% adjusted EPS growth, strong cash flow, and robust capital deployment, with revenue up 7% and adjusted net income up 18% year-over-year. Used and new vehicle sales outpaced the industry, while aftersales and financial services delivered record results.

Q2 2025 Q2 2025 2025-07-25

Q2 saw robust revenue, profit, and EPS growth across all segments, with strong new and used vehicle sales, record aftersales, and expanding finance operations. Capital allocation remained disciplined, and outlook is optimistic despite tariff and supply uncertainties.

📊 Analysis Methodology

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