AutoNation (NYSE: AN) reported Q1 EPS of $0.97, $0.06 better than the analyst estimate of $0.91. Revenue for the quarter came in at $5.1 billion versus the consensus estimate of $5.32 billion.

Mike Jackson, Chairman and Chief Executive Officer, said, "During the first quarter, we saw increasing used unit volumes as we focused on our One Price strategy, which is now fully rolled out at all AutoNation stores, and worked through the majority of the inventory that was previously on recall hold. We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailed."

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