(AutoNation) AutoNation Inc. reported same-store revenue of $6.4 billion in the third quarter of 2021, up 18% from the same quarter of 2020.
The company’s third-quarter GAAP EPS hit a record $5.12, which was 150% above the prior year’s third quarter. The net profit was $361.7 million, up 98% year over year.
Gross profit in same stores rose by 29% from the year-ago level and was further up by 45% from 2019.
The company repurchased 7.9 million common stock or 11% of shares outstanding in the third quarter for a price of $879 million. The board also authorized the additional repurchase of $1 billion shares.
AutoNation’s robust quarter was fueled by strong demand for new vehicles, with the third quarter vehicle revenue gaining by 53% year over year.
AN: NYSE is up +0.92%.
