FORT LAUDERDALE, Fla. (AP) — FORT LAUDERDALE, Fla. (AP) — AutoNation Inc. (AN) on Friday reported first-quarter earnings of $175.5 million.
The Fort Lauderdale, Florida-based company said it had profit of $4.45 per share. Earnings, adjusted for non-recurring costs, came to $4.68 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4.35 per share.
The auto retailer posted revenue of $6.69 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $6.58 billion.
AutoNation shares have risen 2% since the beginning of the year, while the S&P’s 500 index has declined almost 7%. The stock has increased roughly 9% in the last 12 months.
