AutoNation's New CEO Starts Off With Record 1Q
AutoNation started the era of new CEO and president Carl Liebert on a good note, with first-quarter record diluted earnings per share from continuing operations of $1.02 beating consensus of $0.91. We see no reason to change our fair value estimate. Total revenue fell 5.3% year over year to $4.98 billion and missed consensus of $5.22 billion, while same-store revenue declined 4.7%. An 11% fall in new-vehicle revenue and a 14% fall in new-vehicle unit sales are to blame, but we do not mind the re...AutoNation, through its subsidiaries, is an automotive retailer. The company provides a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services as well as wholesale parts and collision businesses, and automotive finance and insurance products, which include vehicle service and other protection products, and the arranging of financing for vehicle purchases through third-party finance sources. The company owns and operates new vehicle franchises from stores located in the United States, in main metropolitan markets in the Sunbelt region. The company has three segments: Domestic, Import, and Premium Luxury.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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