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AutoNation Sales Jump as Covid Doesn't Scare Car Buyers

Published 07/23/2020, 10:54 AM
Updated 07/23/2020, 10:55 AM
© Reuters.
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By Christiana Sciaudone

Investing.com - AutoNation (NYSE:AN) rose 6.6% Thursday after reporting earnings that beat expectations. 

Auto retailers Lithia Motors (NYSE:LAD) was up almost 9% and Penske rose 2%.

AutoNation reported second quarter earnings per share of $1.41 on same-store revenue of $4.5 billion. Analysts polled by Investing.com anticipated EPS of 18 cents on revenue of $3.7 billion. 

Shares of AutoNation are trading at their highest in two years, and have more than doubled since March. 

On Wednesday, Lithia reported second quarter revenue of $2.8 billion, which compares to the estimated $2.5 billion. Adjusted net income per diluted share was $3.72, a 26% increase from the second quarter in 2019, and in comparison to the $1.32 estimated by analysts surveyed by Investing.com. 

 

 

 

 

 

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