AutoNation, Inc. (AN) Earnings
AutoNation, Inc. is expected to report next earnings on July 24, 2026 (in NaN days), with a consensus EPS estimate of $5.41. AN has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +5.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $4.71 | $4.69 | -0.4% | $6.6B | -1.4% |
| Feb 6, 2026 | $4.91 | $5.08 | +3.5% | $6.9B | +0.9% |
| Oct 23, 2025 | $4.85 | $5.01 | +3.3% | $7.0B | -2.7% |
| Jul 25, 2025 | $4.70 | $5.46 | +16.2% | $7.0B | +4.5% |
| Apr 25, 2025 | $4.42 | $4.68 | +5.9% | $6.7B | +0.7% |
| Oct 25, 2024 | $4.38 | $4.02 | -8.2% | $6.6B | -1.5% |
| Jul 31, 2024 | $4.34 | $3.99 | -8.1% | $6.5B | -3.6% |
| Apr 26, 2024 | $4.27 | $4.49 | +5.2% | $6.5B | -0.1% |
| Feb 13, 2024 | $4.95 | $5.02 | +1.4% | $6.8B | +1.1% |
| Oct 27, 2023 | $5.49 | $5.54 | +0.9% | $6.9B | +2.5% |
| Jul 21, 2023 | $5.91 | $6.29 | +6.4% | $6.9B | +1.6% |
| Apr 20, 2023 | $5.74 | $6.07 | +5.7% | $6.4B | -3.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• AutoNation delivered fifth consecutive quarter of year-over-year growth in adjusted earnings per share. • Adjusted EPS was $4.69, up from a year ago. • Generated $256 million of adjusted free cash flow. • After sales had mid-single digit growth despite adverse weather. • Customer financial services had strong per unit profit growth. • AutoNation Finance performed well with increasing portfolio and improved funding profile. • Deployed approximately $350 million of capital including $300 million in share repurchases. • Balance sheet remains strong with leverage ratio within targeted range.
Guidance
• Expect SG&A to moderate as a percentage of gross profit in subsequent quarters but remain above targeted range due to continued investment. • Anticipate improvements in used business over the course of the year as lease returns increase and execution continues to improve. • New vehicle sales continue to track in line with broader retail market and unit profitability shows signs of stabilization. • Focus on driving free cash flow to improve maximum capital deployment capacity.
Segment performance
After sales: Gross profit was $593 million, a first quarter record. Same store gross profit increased 3% and total store gross profit increased 5%. Internal pay declined by 6%, customer pay grew at 8%, warranty-related gross profit grew at 7%. Customer financial services: Per unit profit up 6% from a year ago, offsetting year-over-year decline in unit volumes. AutoNation Finance: Generated $9 million of profit in the quarter, portfolio ended at $2.45 billion, up about $1 billion year over year, originations were 17% of all deals financed in the first quarter. New vehicle: Unit sales down in line with industry, BEV unit sales declined more than 50% year over year, premium luxury unit sales decreased 16% from a year ago, new vehicle unit profitability increased sequentially by 5%. Used vehicles: Achieved highest used to new ratio in two years, used retail unit sales had mixed shifts, average selling prices increased 5%, used vehicle unit profitability increased by more than $150 sequentially.
Risks & headwinds
• Industry challenges such as year-over-year comps being challenging. • Unfavorable self-insurance experience including damage related to weather events. • Impact of geopolitical and economic uncertainties on affordability and consumer confidence which may affect demand. • Uncertainty regarding the return on strategic investments in brand building and technology.
Analyst Q&A
Q: Removed previous 2026 outlook slide, reason and guardrails around new and used vehicle GPU trajectory.
A: Industry had affordability headwinds from inflation, fuel prices, etc. After-sales is anti-cyclical. Margin compression could stimulate volume.
Q: Shift towards more profitable parts of business, view on trend.
A: It's a concerted effort. Industry became more efficient, inventory discipline contributes to stabilization of variable grosses.
Q: Used vehicle comps, GPUs, ability to drive improvement.
A: Focus on sourcing vehicles, reducing inefficiencies to maintain margin even if ATPs mitigate.
Q: Impact of war on consumer confidence and demand trend.
A: Affordability affected, middle cohort's disposable income impact on industry, deferred purchases feed into after sales.
Q: Used car business strategy, sourcing.
A: Focus on trade-ins, We Buy Your Car activities, reposition brand, dip into auction market, balanced portfolio of vehicles.
Q: ANF annualizing, steady state and future penetration.
A: Originations increasing, penetration can continue to improve, targeting 20% penetration.
Q: Impact of weather on quarter, SG&A spending levels.
A: Weather impact on self-insured claims was about $5 million. Focus on SG&A productivity through AI and digital applications, expecting SG&A to moderate.