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AutoNation Q2 profit climbs 14.0% YOY

AutoNation Inc. said its normalized net income for the second quarter amounted to 99 cents per share, compared with the S&P Capital IQ consensus estimate of $1.02 per share.

EPS climbed 19.7% year over year from 83 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $114.2 million, a gain of 14.0% from $100.1 million in the year-earlier period.

The normalized profit margin rose to 2.2% from 2.1% in the year-earlier period.

Total revenue grew 9.1% year over year to $5.22 billion from $4.79 billion, and total operating expenses rose 9.0% from the prior-year period to $5.01 billion from $4.59 billion.

Reported net income increased 14.8% from the prior-year period to $115.1 million, or $1 per share, from $100.3 million, or 83 cents per share.