Welcome to our dedicated page for AutoNation news (Ticker: AN), a resource for investors and traders seeking the latest updates and insights on AutoNation stock.
AutoNation Inc. (AN) generates news across multiple categories that reflect its position as America's largest automotive retailer. The company's news flow typically includes quarterly earnings announcements that detail performance across its nationwide dealership network, dealership acquisition announcements as AutoNation expands into new markets or adds brands to existing locations, and strategic initiatives around operational improvements and customer experience enhancements.
Investors following AutoNation should pay attention to same-store sales performance metrics, which reveal how existing dealerships perform independent of network expansion. The company's earnings reports break down revenue and profitability across new vehicle sales, used vehicle operations, and parts and service segments, providing insight into which business lines drive performance. Material events such as share repurchase authorizations and dividend announcements indicate capital allocation priorities and management's confidence in cash flow generation.
AutoNation also makes news through dealership openings and renovations, particularly when adding luxury brand franchises or entering new metropolitan markets. The company's expansion strategy focuses on acquiring dealerships that enhance its multi-brand portfolio and geographic presence. Industry watchers track these moves to understand AutoNation's growth trajectory and market positioning relative to competitors in the fragmented automotive retail sector.
AutoNation (NYSE: AN) announced the opening of its ninth AutoNation USA store in Phoenix Avondale, marking its second pre-owned vehicle store in the area. This expansion is part of a broader strategy to have over 130 AutoNation USA locations by 2026. The company emphasizes a customer-centric approach with competitive, haggle-free pricing through its 1Price Pre-Owned program. The new location will create 26 jobs and is linked to AutoNation's Drive Pink initiative, which has raised over $28 million for cancer research.
AutoNation (NYSE: AN) has partnered with the Dick Vitale Fund for Pediatric Cancer to raise funds for innovative pediatric cancer research this November. The initiative, part of their ongoing Drive Pink initiative, aims to combat cancer, having raised over $28 million since its inception. Customers at AutoNation locations can contribute through the Cash Register Challenge, with 100% of donations supporting pediatric cancer patients and research. AutoNation's commitment continues its mission to create a world without cancer, especially for children.
AutoNation (NYSE: AN) reported a record third quarter in 2021, achieving net income from continuing operations of $362 million, or $5.12 per share, up from $183 million, or $2.05 per share, in the prior year. Same-store revenue rose 18% to $6.4 billion, driven by strong demand for used vehicles, with a remarkable 53% year-over-year increase in same-store used vehicle revenue. AutoNation's gross profit also increased by 29% to $1.3 billion. The company announced plans for further expansion with new store openings and acquisitions projected to represent approximately $800 million in annual revenue.
On October 18, 2021, AutoNation (NYSE: AN) announced the opening of its second AutoNation USA store in Denver, furthering its expansion strategy. This store is part of a larger plan with five new stores opening in 2021 and an expected twelve more in 2022. By the end of 2026, AutoNation aims to operate over 130 AutoNation USA stores nationwide. The company is focused on enhancing customer experience through its 1Price Pre-Owned model and the 'We'll Buy Your Car' program, while also supporting cancer research through its Drive Pink initiative, which has raised over $28 million since 2013.
AutoNation (NYSE: AN) announced that it will release its Q3 2021 financial results on October 21, 2021. Management will discuss these results during a conference call at 10:00 a.m. ET. The call can be accessed via telephone or through AutoNation's investor relations website. As of September 30, 2021, AutoNation operates over 300 locations and has sold over 13 million vehicles, becoming the first automotive retailer to achieve this milestone.
AutoNation (NYSE: AN) continues its commitment to cancer awareness with its Drive Pink initiative, which has raised over $28 million since its inception. Marking the 6th Annual DRVPNK Across America Day, AutoNation will host events on October 12 and October 20, 2021, at DRV PNK Stadium, partnering with Inter Miami CF to support cancer patients. Participants will fill comfort bags and honor cancer survivors during a match, with the first 10,000 fans receiving free rally towels. AutoNation operates over 300 locations nationwide, emphasizing community support through its charitable initiatives.
AutoNation (NYSE: AN) announced the appointment of Mike Manley as its new Chief Executive Officer and Board member, effective November 1, 2021. He succeeds Mike Jackson, who is retiring after 22 years as CEO. Manley, previously CEO of Fiat Chrysler Automobiles, brings extensive automotive experience to the role. Under Jackson's leadership, AutoNation achieved significant milestones, including selling over 13 million vehicles and raising over $28 million for cancer research. The company is recognized for its exceptional performance and commitment to customer service.
On Sept. 15, 2021, AutoNation (NYSE: AN) announced the opening of its second pre-owned vehicle store, AutoNation USA Denver 104, as part of a plan to establish five such stores this year. By 2026, AutoNation aims to operate over 130 stores nationwide, focusing on a customer-centric approach to capture more market share in the used vehicle sector. The new store emphasizes low, haggle-free pricing and facilitates vehicle sales through its 'We'll Buy Your Car' program. AutoNation continues its philanthropic efforts through its Drive Pink initiative, which has raised over $28 million for cancer research.
AutoNation, Inc. (NYSE: AN) announced the pricing of $400 million senior unsecured notes due 2028 at 1.950% and $450 million senior unsecured notes due 2031 at 2.400%. The notes are expected to close on July 29, 2021. Proceeds will be utilized for general corporate purposes, including debt reduction and share repurchases. BofA Securities, J.P. Morgan, and others are managing the debt offering. AutoNation operates over 300 locations and has sold over 13 million vehicles.
AutoNation (NYSE: AN) reported strong financial results for Q2 2021, with net income from continuing operations reaching $385 million, or $4.83 per share, a notable increase from $280 million, or $3.18 per share, in Q2 2020. Same-store revenues soared to an all-time record of $7.0 billion, up 54% year-over-year. Vehicle sales also improved, with new vehicle sales increasing by 42% and used vehicle sales by 37%. The company plans to expand its AutoNation USA stores, targeting over 130 locations by 2026, and has authorized an additional $1 billion for stock repurchases.
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