AutoNation Q2 2022 EPS $6.48 (+34% YoY); announces acquisition of CIG Financial and $1B buyback authorization

AUTONATION, INC.

2022-Q2 EPS reported $12.25 revenue$13,622,000,000

Q2 diluted EPS $6.48, up 34% from $4.83; operating income $558M (record, +5% YoY).
Revenue $6.9B, down 2% YoY; new vehicle revenue -14%, used vehicle revenue +13%.
After-sales gross profit $482M (+11% YoY); new vehicle GPU $6,106 (+47% YoY).
Repurchased 3.7M shares for $404M in Q2; Board authorized additional $1B buyback.
Announced acquisition of CIG Financial (auto finance) to expand captive finance; expected close within 90 days.

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