(AutoNation) AutoNation reported a record profit of $385 million or $4.83 earnings per share in the second quarter. The profit represents a growth of 52% compared to $3.18 EPS for Q2 2020.
The company’s Q2 revenue hit an all-time high of $7.0 billion, an increase of 54% year over year and 33% compared to Q2 of 2019.
Same-store gross profit of quarter two increased by 68% in 2021 compared to last year and a 52% increase from Q2 of 2019.
AutoNation repurchased 7.5 million common stock shares or 9% of common stock shares outstanding for $736 million.
AutoNation repurchased 12.9 million in the common stock year to date, an equivalent of 15% of outstanding shares for a $1.2 billion purchase price. The company authorized the further 1 billion shares repurchase.
AutoNation is America’s biggest automotive retailer, now targeting to open 130 additional stores in the US by 2026.
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