AutoNation's Record 2Q Overshadowed by Departure of New CEO Liebert
AutoNation reported record second-quarter diluted EPS of $1.12, easily beating consensus of $1.06. Same-store revenue declined 0.5% year over year as strength in used vehicles and service mostly offset declines in new-vehicle revenue. We like that the company isn't chasing used-vehicle volume over profit. New-vehicle unit sales fell 10.8%, but new-vehicle gross profit per unit increased 12.7% to $1,780, and total new-vehicle gross profit grew 0.6%. We expect this trend to continue this year due ...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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