UPDATE: AutoNation (AN) Misses Q2 EPS by 11c
(update corrects EPS)
AutoNation (NYSE: AN) reported Q2 EPS of $0.86, $0.11 worse than the analyst estimate of $0.97. Revenue for the quarter came in at $5.28 billion versus the consensus estimate of $5.55 billion.
For the second quarter of 2017, AutoNation's combined retail vehicle unit sales were down 3%, or down 2% on a same store basis.
Mike Jackson, Chairman, CEO and President, said, "Our pre-owned margins declined due to implementation challenges with our centralized One Price strategy during the quarter. However, we've taken decisive action to resolve those issues by realigning our leadership and structure to fully realize the opportunity of our brand extension strategy."
For earnings history and earnings-related data on AutoNation (AN) click here.