FORT LAUDERDALE, Fla. (AP) _ AutoNation Inc. (AN) on Thursday reported third-quarter net income of $352.6 million.
On a per-share basis, the Fort Lauderdale, Florida-based company said it had net income of $6.31. Earnings, adjusted for non-recurring gains, were $6 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $6.32 per share.
The auto retailer posted revenue of $6.67 billion in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $6.65 billion.
AutoNation shares have fallen 12% since the beginning of the year, while the S&P’s 500 index has fallen 20%. The stock has declined 18% in the last 12 months.
