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AutoNation Q4 profit falls 10.2% YOY

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AutoNation Q4 profit falls 10.2% YOY

AutoNation Inc. said its normalized net income for the fourth quarter was 93 cents per share, compared with the S&P Capital IQ consensus estimate of $1.03 per share.

EPS decreased 7.9% year over year from $1.01.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $104.7 million, a decrease of 10.2% from $116.6 million in the year-earlier period.

The normalized profit margin fell to 2.0% from 2.3% in the year-earlier period.

Total revenue climbed 5.8% on an annual basis to $5.34 billion from $5.05 billion, and total operating expenses grew 6.3% year over year to $5.13 billion from $4.82 billion.

Reported net income decreased 16.0% year over year to $98.1 million, or 87 cents per share, from $116.8 million, or $1.02 per share.

For the year, the company's normalized net income totaled $3.95 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.05.

EPS rose 12.7% from $3.51 in the prior year.

Normalized net income was $450.1 million, a gain of 7.9% from $416.9 million in the prior year.

Full-year total revenue grew 9.2% from the prior-year period to $20.86 billion from $19.11 billion, and total operating expenses rose 9.2% year over year to $19.99 billion from $18.30 billion.

The company said reported net income increased 5.8% on an annual basis to $444.2 million, or $3.90 per share, in the full year, from $419.7 million, or $3.53 per share.