AutoNation reports record Q3 GAAP EPS $5.12 (+150% YoY); announces $420M revenue acquisition

AUTONATION, INC.

2021-Q3 EPS reported $12.62 revenue$19,261,700,000

Q3 2021 GAAP EPS from continuing ops $5.12, up 150% YoY from $2.05; same-store revenue $6.4B, +18% YoY.
Same-store gross profit +29% YoY; SG&A as % of gross profit 56.9%, improvement of 750 bps.
Repurchased 7.9M shares (11% of outstanding) for $879M in Q3; board authorized additional $1B buyback.
Agreed to acquire Priority 1 Automotive Group representing ~$420M in annual revenue.
New vehicle inventory remains low; demand outpacing supply; used vehicle revenue up 53% YoY.

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