Aenza SAA
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Industrials : Construction & Engineering | Small Cap Value
Based in Peru
Company profile

Aenza SAA, formerly Grana y Montero SAA, is a Peru-based company which engages in the Industrial & Commercial Services Business Sector. The main objective of the Company is to engage in investments and commercial operations in general, as well as engineering services, management advice, real estate investments, acquisition, transfer and negotiation of shares, participations or shares of companies, as well as any other securities. The Company's purpose is to transform realities and living conditions promoting development responsible and facilitating the well-being of citizens in permanent commitment with society. The Company's goal is to give life to the means, spaces and resources that facilitate the urban life of people.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

ADR fees charged by custodial banks normally average from 1 to 3 cents per share. Other country fees might apply. To read more, see the Exception Fees tab at Brokerage Fees

Closing Price
$2.04
Day's Change
0.04 (2.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
2.04
Day's Low
1.98
Volume
(Light)
Volume:
11,856

10-day average volume:
30,589
11,856

AutoNation Reports Sixth Consecutive All-Time Record Quarter

7:00 am ET October 21, 2021 (PR Newswire) Print

AutoNation, Inc. (NYSE: AN), America's largest and most recognized automotive retailer, today reported its sixth consecutive all-time record quarter. During the quarter, consumer demand continued to outpace supply, driven by consumer desire for personal transportation and ongoing manufacturing supply chain disruptions. New vehicle inventory remains at historically low levels, which combined with strong execution, has supported record profitability. With personal transportation remaining a top priority, many Customers are shifting from new to pre-owned vehicles. AutoNation continues to outperform the industry due to strong sourcing capabilities, with third quarter 2021 same store used vehicle revenue up 53% year-over-year. Ninety percent of all pre-owned vehicles retailed by AutoNation in the third quarter were self-sourced.

Mike Jackson, AutoNation's Chief Executive Officer, stated, "Demand continues to outpace supply for new vehicles. New vehicle sales are constrained by reduced production volume with low inventory levels. We expect this pent up demand to support sales for the foreseeable future."

Third quarter 2021 net income from continuing operations was $362 million, or $5.12 per share. Third quarter 2020 net income from continuing operations was $183 million, or $2.05 per share, which included charges of $28 million after-tax, or $0.31 per share, related to the closing of the AutoNation Collision Parts business and a non-cash unrealized loss related to our investment in Vroom of $2 million after-tax, or $0.02 per share. Reconciliations of non-GAAP financial measures are included in the attached financial tables.

Operational Summary Third quarter 2021 Operational Summary:

-- Revenue - Same-store revenue was $6.4 billion, an increase of 18% compared to the year-ago period and an increase of 18% compared to the third quarter of 2019.

-- New Vehicle Revenue - Same-store new vehicle revenue was flat compared to the prior year and decreased 3% compared to the third quarter of 2019.

-- Used Vehicle Revenue- Same-store used vehicle revenue increased 53% compared to the prior year and increased 67% compared to the third quarter of 2019

-- Gross Profit - Same-store gross profit totaled $1.3 billion, an increase of 29% compared to the year-ago period and an increase of 45% compared to the third quarter of 2019.

-- New Vehicle Gross Profit - Same-store new vehicle gross profit per vehicle retailed was a record $5,484, up $2,949 or 116% compared to the year-ago period and up 238% compared to the third quarter of 2019.

-- Used Vehicle Gross Profit - Same-store used vehicle gross profit per vehicle retailed was $2,104, up $108 or 5% compared to the year-ago period and up 51% compared to the third quarter of 2019.

-- Customer Financial Services Gross Profit - Same-store Customer Financial Services gross profit per vehicle retailed was a record $2,573, up $417 or 19% compared to the year-ago period and up 32% compared to the third quarter of 2019.

-- Customer Care Gross Profit - Same-store Customer Care gross profit was $424 million, an increase of 8% compared to the year-ago period and an increase of 6% compared to the third quarter of 2019.

-- SG&A as a Percentage of Gross Profit -SG&A as a percentage of gross profit was 56.9%, an improvement of 750 basis points compared to adjusted SG&A as a percentage of gross profit of 64.4% in the prior year and a 1,550 basis improvement compared to the third quarter of 2019.

Selected GAAP Financial Data
($ in millions, except per share data)
                                                Three Months Ended Sep 30,
                                                2021            2020            2019            YoY    2021
                                                                                                       vs.
                                                                                                       2019
Revenue                                         $     6,379.5   $     5,404.9   $     5,461.2   18%    17%
Gross Profit                                    $     1,271.9   $        971.5  $        887.4  31%    43%
Operating Income                                $        503.3  $        271.7  $        193.5  85%    160%
Net Income  from Continuing Operations          $        361.7  $        182.6  $        100.0  98%    262%
Diluted EPS from Continuing Operations          $          5.12 $          2.05 $          1.11 150%   361%
Same-store Revenue                              $     6,365.7   $     5,380.3   $     5,377.2   18%    18%
Same-store Gross Profit                         $     1,269.7   $        986.5  $        875.7  29%    45%
Same-store New Vehicle Retail Unit Sales        58,276          65,838          73,049          -11%   -20%
Same- store Used Vehicle Retail Unit Sales      77,073          64,393          62,513          20%    23%
Selected Non-GAAP Financial Data
($ in millions, except per share data)
                                                Three Months Ended Sep 30,
                                                2021            2020            2019            YoY    2021
                                                                                                       vs.
                                                                                                       2019
Adjusted Operating Income                       $        503.3  $        308.2  $        199.3  63%    153%
Adjusted Net Income from Continuing Operations  $        361.7  $        211.8  $        106.3  71%    240%
Adjusted Diluted EPS from Continuing Operations $          5.12 $          2.38 $          1.18 115%   334%

Capital Allocation The Company's seventh and eighth AutoNation USA stores opened in Denver as scheduled in September and October of 2021. AutoNation remains on track to open two additional AutoNation USA stores in the fourth quarter of 2021, including a store in Phoenix and entering a new market in Charlotte, North Carolina. The Company will open 12 additional new stores in 2022. These stores will continue to leverage the AutoNation brand, scale, and proven Customer-centric processes to capture a larger share of the used vehicle market.

AutoNation today announced it has signed an agreement to acquire Priority 1 Automotive Group, representing approximately $420 million in annual revenue. This transaction is subject to customary terms and conditions, including manufacturer approval, and is expected to close in the fourth quarter of 2021. Together with the previously announced acquisition of Peacock Automotive Group, during 2021, AutoNation has announced acquisitions representing in the aggregate $800 million in annual revenue.

During the third quarter of 2021, AutoNation repurchased 7.9 million shares of common stock, or almost 11% of the shares outstanding at the beginning of the third quarter for an aggregate purchase price of $879 million. For the last twelve months through September 30, 2021, AutoNation repurchased 23.9 million shares of common stock, or 27% of the shares outstanding, for an aggregate purchase price of $2.2 billion. AutoNation today announced that the Board of Directors authorized the repurchase of up to an additional $1 billion of AutoNation common stock. With the increased authorization, AutoNation has approximately $1.3 billion remaining Board authorization for share repurchase. As of October 19, 2021, AutoNation had approximately 66 million shares outstanding.

Liquidity and Leverage As of September 30, 2021, AutoNation had $1.8 billion of liquidity, including $72 million in cash and approximately $1.8 billion of availability under our revolving credit facility. The Company's covenant leverage ratio was 1.4x at quarter-end. AutoNation had approximately $2.7 billion of non-vehicle debt outstanding as of September 30, 2021.

Segment Results Segment results(1) for the third quarter 2021 were as follows:

Third Quarter 2021 Segment Results

-- Domestic - Domestic segment income(2) was $149 million compared to year-ago segment income of $112 million, an increase of 33%.

-- Import - Import segment income(2) was $201 million compared to year-ago segment income of $124 million, an increase of 63%.

-- Premium Luxury - Premium Luxury segment income(2) was $206 million compared to year-ago segment income of $144 million, an increase of 43%.

For the nine-month period ended September 30, 2021, AutoNation reported net income from continuing operations of $986 million, or $12.63 per share, compared to $230 million, or $2.59 per share, in the prior year. Adjusted net income from continuing operations for the nine-month period ended September 30, 2021, was $980 million, or $12.55 per share, compared to $418 million, or $4.70 per share in the prior year. Reconciliations of non-GAAP financial measures are included in the attached financial tables.

Selected GAAP Financial Data
($ in millions, except per share data)
                                                Nine Months Ended Sep 30,
                                                2021           2020            2019            YoY    2021
                                                                                                      vs.
                                                                                                      2019
Revenue                                         $   19,261.7   $   14,604.9    $   15,786.8    32%    22%
Gross Profit                                    $     3,631.0  $     2,579.7   $     2,627.4   41%    38%
Operating Income                                $     1,370.4  $        253.8  $        587.8  440%   133%
Net Income  from Continuing Operations          $        986.1 $        230.3  $        293.1  328%   236%
Diluted EPS from Continuing Operations          $        12.63 $          2.59 $          3.24 388%   290%
Selected Non-GAAP Financial Data
($ in millions, except per share data)
                                                Nine Months Ended Sep 30,
                                                2021           2020            2019            YoY    2021
                                                                                                      vs.
                                                                                                      2019
Adjusted Operating Income                       $     1,370.4  $        680.0  $        594.9  102%   130%
Adjusted Net Income from Continuing Operations  $        980.4 $        418.1  $        300.4  134%   226%
Adjusted Diluted EPS from Continuing Operations $        12.55 $          4.70 $          3.32 167%   278%

The third quarter conference call may be accessed by telephone 844-200-6205 (Conference ID:577526) at 10:00 a.m. Eastern Time today or on AutoNation's investor relations website at investors.autonation.com.

The webcast will also be available on AutoNation's website under "Events & Presentations" following the call. A playback of the conference call will be available after 1:00 p.m. Eastern Time on October 21, 2021, through November 11, 2021, by calling 866-813-9403 (Conference ID: 527886). Additional information regarding AutoNation's results can be found in the Investor Presentation available at: investors.autonation.com.

(1) AutoNation has three reportable segments: Domestic, Import, and Premium Luxury. The Domestic segment is comprised of stores that sell vehicles manufactured by General Motors, Ford, and Stellantis (formerly FCA US); the Import segment is comprised of stores that sell vehicles manufactured primarily by Toyota, Honda, Subaru, Nissan, and Hyundai; and the Premium Luxury segment is comprised of stores that sell vehicles manufactured primarily by Mercedes-Benz, BMW, Lexus, Audi, and Jaguar Land Rover.
(2) Segment income represents income for each of our reportable segments and is defined as operating income less floorplan interest expense.

About AutoNation, Inc. AutoNation, America's largest and most admired automotive retailer, is transforming the automotive industry through its bold leadership, innovation, and comprehensive brand extensions. As of September 30, 2021, AutoNation owned and operated over 300 locations from coast to coast. AutoNation has sold over 13 million vehicles, the first automotive retailer to reach this milestone. AutoNation's success is driven by a commitment to delivering a peerless experience through customer-focused sales and service processes. Since 2013, AutoNation has raised over $28 million to drive out cancer, create awareness, and support critical research through its DRIVE PINK initiative, which was officially branded in 2015.

Please visit www.autonation.com, investors.autonation.com, www.twitter.com/CEOMikeJackson, and www.twitter.com/AutoNation, where AutoNation discloses additional information about the Company, its business, and its results of operations. Please also visit www.autonationdrive.com, AutoNation's automotive blog, for information regarding the AutoNation community, the automotive industry, and current automotive news and trends.

NON-GAAP FINANCIAL MEASURES This news release and the attached financial tables contain certain non-GAAP financial measures as defined under SEC rules, which exclude certain items disclosed in the attached financial tables. As required by SEC rules, the Company provides reconciliations of these measures to the most directly comparable GAAP measures. The Company believes that these non-GAAP financial measures improve the transparency of the Company's disclosure, provide a meaningful presentation of the Company's results excluding the impact of items not related to the Company's ongoing core business operations, and improve the period-to-period comparability of the Company's results from its core business operations. Non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated and presented in accordance with GAAP.

FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "intends," "goals," "targets," "projects," "plans," "believes," "continues," "may," "will," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding our strategic initiatives, partnerships, or investments (including the planned expansion of our AutoNation USA pre-owned vehicle stores); pending acquisitions; and our investments in digital and online capabilities and other brand extension strategies; as well as statements regarding our expectations for the future performance of our business (including with respect to new and pre-owned vehicle sales targets), and the automotive retail industry, and other statements that describe our objectives, goals, or plans, are forward-looking statements. Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties, and other factors that are difficult to predict and may cause our actual results, performance, or achievements to be materially different from any future results, performance, and achievements expressed or implied by these statements. These risks, uncertainties, and other factors include, among others: economic conditions, including changes in consumer demand, unemployment rates, interest rates, fuel prices, and tariffs; our ability to implement successfully our strategic initiatives, partnerships, and investments, including the planned expansion of our AutoNation USA stores; our ability to identify, acquire, and build out suitable locations in a timely manner; our ability to acquire and integrate successfully new franchises; restrictions imposed by vehicle manufacturers and our ability to obtain manufacturer approval for acquisitions; our ability to develop successfully our digital and online capabilities and other brand extension strategies; supply chain disruptions and inventory availability; our ability to maintain and enhance our retail brands and reputation and to attract consumers to our own digital channels; our ability to attain planned sales volumes within our expected time frames; new and used vehicle margins; our ability to successfully implement and maintain expense controls; the success and financial viability and the incentive and marketing programs of vehicle manufacturers and distributors with which we hold franchises; the response by federal, state, and local governments and other third parties to, and the economic impacts of, the COVID-19 pandemic; natural disasters and other adverse weather events; the resolution of legal and administrative proceedings; regulatory factors affecting our business, including fuel economy requirements; the announcement of safety recalls; factors affecting our goodwill and other intangible asset impairment testing; and other factors described in our news releases and filings made under the securities laws, including, among others, our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Forward-looking statements contained in this news release speak only as of the date of this news release, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

AUTONATION, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
                                                                  Three Months Ended September 30,  Nine Months Ended September 30,
                                                                  2021             2020             2021             2020
Revenue:
                                New vehicle                     $ 2,753.8        $ 2,748.4        $ 9,164.4        $ 7,291.6
                                Used vehicle                      2,323.2          1,516.9          6,295.2          4,090.1
                                Parts and service                 943.7            852.8            2,745.5          2,419.0
                                Finance and insurance, net        348.9            281.2            1,030.9          763.4
                                Other                             9.9              5.6              25.7             40.8
Total revenue                                                     6,379.5          5,404.9          19,261.7         14,604.9
Cost of sales:
                                New vehicle                       2,434.2          2,581.2          8,334.3          6,908.4
                                Used vehicle                      2,146.2          1,370.0          5,775.3          3,735.2
                                Parts and service                 518.9            477.6            1,499.2          1,343.6
                                Other                             8.3              4.6              21.9             38.0
Total cost of sales                                               5,107.6          4,433.4          15,630.7         12,025.2
Gross profit                                                      1,271.9          971.5            3,631.0          2,579.7
Selling, general, and administrative expenses                     723.7            641.4            2,120.5          1,790.0
Depreciation and amortization                                     47.6             51.8             143.4            149.0
Goodwill impairment                                               -                -                -                318.3
Franchise rights impairment                                       -                -                -                57.5
Other (income) expense, net                                       (2.7)            6.6              (3.3)            11.1
Operating income                                                  503.3            271.7            1,370.4          253.8
Non-operating income (expense) items:
                                Floorplan interest expense        (4.9)            (11.1)           (20.9)           (52.9)
                                Other interest expense            (24.1)           (23.6)           (66.2)           (70.3)
                                Other income (loss), net(1)       (0.8)            6.5              19.1             218.2
Income from continuing operations before income taxes             473.5            243.5            1,302.4          348.8
Income tax provision                                              111.8            60.9             316.3            118.5
Net income from continuing operations                             361.7            182.6            986.1            230.3
Loss from discontinued operations, net of income taxes            -                -                (0.2)            (0.2)
Net income                                                      $ 361.7          $ 182.6          $ 985.9          $ 230.1
Diluted earnings (loss) per share(2):
                                Continuing operations           $ 5.12           $ 2.05           $ 12.63          $ 2.59
                                Discontinued operations         $ -              $ -              $ -              $ -
                                Net income                      $ 5.12           $ 2.05           $ 12.62          $ 2.59
Weighted average common shares outstanding                        70.7             88.9             78.1             89.0
Common shares outstanding, net of treasury stock, at period end   65.5             87.8             65.5             87.8
(1)                             Current year-to-date and prior quarter-to-date and year-to-date periods include gains (losses) on minority equity investments.
(2)                             Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.
AUTONATION, INC.
UNAUDITED SUPPLEMENTARY DATA
($ in millions, except per vehicle data)
                                          Operating Highlights        Three Months Ended September 30,                                     Nine Months Ended September 30,
                                                                      2021           2020                $ Variance    % Variance          2021           2020           $ Variance    % Variance
Revenue:
                   New vehicle                                      $ 2,753.8      $ 2,748.4           $ 5.4           0.2               $ 9,164.4      $ 7,291.6      $ 1,872.8       25.7
                                          Retail used vehicle         2,158.2        1,421.0             737.2         51.9                5,888.1        3,845.5        2,042.6       53.1
                                          Wholesale                   165.0          95.9                69.1          72.1                407.1          244.6          162.5         66.4
                   Used vehicle                                       2,323.2        1,516.9             806.3         53.2                6,295.2        4,090.1        2,205.1       53.9
                   Finance and insurance, net                         348.9          281.2               67.7          24.1                1,030.9        763.4          267.5         35.0
                                          Total variable operations   5,425.9        4,546.5             879.4         19.3                16,490.5       12,145.1       4,345.4       35.8
                   Parts and service                                  943.7          852.8               90.9          10.7                2,745.5        2,419.0        326.5         13.5
                   Other                                              9.9            5.6                 4.3                               25.7           40.8           (15.1)
Total revenue                                                       $ 6,379.5      $ 5,404.9           $ 974.6         18.0              $ 19,261.7     $ 14,604.9     $ 4,656.8       31.9
Gross profit:
                   New vehicle                                      $ 319.6        $ 167.2             $ 152.4         91.1              $ 830.1        $ 383.2        $ 446.9         116.6
                                          Retail used vehicle         163.1          128.8               34.3          26.6                468.7          318.1          150.6         47.3
                                          Wholesale                   13.9           18.1                (4.2)                             51.2           36.8           14.4
                   Used vehicle                                       177.0          146.9               30.1          20.5                519.9          354.9          165.0         46.5
                   Finance and insurance                              348.9          281.2               67.7          24.1                1,030.9        763.4          267.5         35.0
                                          Total variable operations   845.5          595.3               250.2         42.0                2,380.9        1,501.5        879.4         58.6
                   Parts and service                                  424.8          375.2               49.6          13.2                1,246.3        1,075.4        170.9         15.9
                   Other                                              1.6            1.0                 0.6                               3.8            2.8            1.0
Total gross profit                                                    1,271.9        971.5               300.4         30.9                3,631.0        2,579.7        1,051.3       40.8
Selling, general, and administrative expenses                         723.7          641.4               (82.3)        (12.8)              2,120.5        1,790.0        (330.5)       (18.5)
Depreciation and amortization                                         47.6           51.8                4.2                               143.4          149.0          5.6
Goodwill impairment                                                   -              -                   -                                 -              318.3          318.3
Franchise rights impairment                                           -              -                   -                                 -              57.5           57.5
Other (income) expense, net                                           (2.7)          6.6                 9.3                               (3.3)          11.1           14.4
Operating income                                                      503.3          271.7               231.6         85.2                1,370.4        253.8          1,116.6       440.0
Non-operating income (expense) items:
                   Floorplan interest expense                         (4.9)          (11.1)              6.2                               (20.9)         (52.9)         32.0
                   Other interest expense                             (24.1)         (23.6)              (0.5)                             (66.2)         (70.3)         4.1
                   Other income (loss), net                           (0.8)          6.5                 (7.3)                             19.1           218.2          (199.1)
Income from continuing operations before income taxes               $ 473.5        $ 243.5             $ 230.0         94.5              $ 1,302.4      $ 348.8        $ 953.6         273.4
Retail vehicle unit sales:
                   New                                                58,277         65,998              (7,721)       (11.7)              204,802        177,250        27,552        15.5
                   Used                                               77,553         64,587              12,966        20.1                229,922        179,656        50,266        28.0
                                                                      135,830        130,585             5,245         4.0                 434,724        356,906        77,818        21.8
Revenue per vehicle retailed:
                   New                                              $ 47,254       $ 41,644            $ 5,610         13.5              $ 44,748       $ 41,137       $ 3,611         8.8
                   Used                                             $ 27,829       $ 22,001            $ 5,828         26.5              $ 25,609       $ 21,405       $ 4,204         19.6
Gross profit per vehicle retailed:
                   New                                              $ 5,484        $ 2,533             $ 2,951         116.5             $ 4,053        $ 2,162        $ 1,891         87.5
                   Used                                             $ 2,103        $ 1,994             $ 109           5.5               $ 2,039        $ 1,771        $ 268           15.1
                   Finance and insurance                            $ 2,569        $ 2,153             $ 416           19.3              $ 2,371        $ 2,139        $ 232           10.8
                   Total variable operations(1)                     $ 6,122        $ 4,420             $ 1,702         38.5              $ 5,359        $ 4,104        $ 1,255         30.6
                                          Operating Percentages       Three Months Ended September 30,   Nine Months Ended September 30,
                                                                      2021 (%)       2020 (%)            2021 (%)      2020 (%)
Revenue mix percentages:
                   New vehicle                                        43.2           50.9                47.6          49.9
                   Used vehicle                                       36.4           28.1                32.7          28.0
                   Parts and service                                  14.8           15.8                14.3          16.6
                   Finance and insurance, net                         5.5            5.2                 5.4           5.2
                   Other                                              0.1            -                   -             0.3
                                                                      100.0          100.0               100.0         100.0
Gross profit mix percentages:
                   New vehicle                                        25.1           17.2                22.9          14.9
                   Used vehicle                                       13.9           15.1                14.3          13.8
                   Parts and service                                  33.4           38.6                34.3          41.7
                   Finance and insurance                              27.4           28.9                28.4          29.6
                   Other                                              0.2            0.2                 0.1           -
                                                                      100.0          100.0               100.0         100.0
Operating items as a percentage of revenue:
                   Gross profit:
                                          New vehicle                 11.6           6.1                 9.1           5.3
                                          Used vehicle - retail       7.6            9.1                 8.0           8.3
                                          Parts and service           45.0           44.0                45.4          44.5
                                          Total                       19.9           18.0                18.9          17.7
                   Selling, general, and administrative expenses      11.3           11.9                11.0          12.3
                   Operating income                                   7.9            5.0                 7.1           1.7
Operating items as a percentage of total gross profit:
                   Selling, general, and administrative expenses      56.9           66.0                58.4          69.4
                   Operating income                                   39.6           28.0                37.7          9.8
(1)                                       Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit sales.
AUTONATION, INC.
UNAUDITED SUPPLEMENTARY DATA
($ in millions)
                 Segment Operating Highlights                Three Months Ended September 30,                                     Nine Months Ended September 30,
                                                             2021         2020                  $ Variance  % Variance            2021       2020       $ Variance  % Variance
Revenue:
                 Domestic                                  $ 1,955.2    $ 1,734.5             $ 220.7       12.7                $ 5,926.7  $ 4,704.0  $ 1,222.7     26.0
                 Import                                      1,983.3      1,621.5               361.8       22.3                  5,927.9    4,308.9    1,619.0     37.6
                 Premium luxury                              2,218.0      1,870.0               348.0       18.6                  6,790.0    5,051.6    1,738.4     34.4
                 Total                                       6,156.5      5,226.0               930.5       17.8                  18,644.6   14,064.5   4,580.1     32.6
                 Corporate and other                         223.0        178.9                 44.1        24.7                  617.1      540.4      76.7        14.2
                 Total consolidated revenue                $ 6,379.5    $ 5,404.9             $ 974.6       18.0                $ 19,261.7 $ 14,604.9 $ 4,656.8     31.9
Segment income*:
                 Domestic                                  $ 149.1      $ 111.9               $ 37.2        33.2                $ 436.6    $ 248.1    $ 188.5       76.0
                 Import                                      200.7        123.5                 77.2        62.5                  530.3      277.7      252.6       91.0
                 Premium luxury                              206.1        143.9                 62.2        43.2                  590.3      313.3      277.0       88.4
                 Total                                       555.9        379.3                 176.6       46.6                  1,557.2    839.1      718.1       85.6
Corporate and other                                          (57.5)       (118.7)               61.2                              (207.7)    (638.2)    430.5
Add:  Floorplan interest expense                             4.9          11.1                  (6.2)                             20.9       52.9       (32.0)
Operating income                                           $ 503.3      $ 271.7               $ 231.6       85.2                $ 1,370.4  $ 253.8    $ 1,116.6     440.0
* Segment income represents income for each of our reportable segments and is defined as operating income less floorplan interest expense.
Retail new vehicle unit sales:
                 Domestic                                    15,878       21,620                (5,742)     (26.6)                59,006     57,995     1,011       1.7
                 Import                                      27,968       29,356                (1,388)     (4.7)                 94,947     78,248     16,699      21.3
                 Premium luxury                              14,431       15,022                (591)       (3.9)                 50,849     41,007     9,842       24.0
                                                             58,277       65,998                (7,721)     (11.7)                204,802    177,250    27,552      15.5
Retail used vehicle unit sales:
                 Domestic                                    26,989       22,095                4,894       22.1                  79,524     63,025     16,499      26.2
                 Import                                      26,450       22,281                4,169       18.7                  78,679     61,414     17,265      28.1
                 Premium luxury                              21,031       18,075                2,956       16.4                  62,935     49,013     13,922      28.4
                                                             74,470       62,451                12,019      19.2                  221,138    173,452    47,686      27.5
                 Brand Mix - Retail New Vehicle Units Sold
                                                             Three Months Ended September 30,   Nine Months Ended September 30,
                                                             2021 (%)     2020 (%)              2021 (%)    2020 (%)
                 Domestic:
                 Ford, Lincoln                               8.6          11.7                  9.8         11.8
                 Chevrolet, Buick, Cadillac, GMC             9.1          10.7                  10.0        11.0
                 Chrysler, Dodge, Jeep, Ram                  9.5          10.4                  9.0         9.9
                 Domestic total                              27.2         32.8                  28.8        32.7
                 Import:
                 Toyota                                      23.4         21.1                  22.1        20.5
                 Honda                                       14.0         13.6                  14.0        13.6
                 Nissan                                      2.6          2.5                   2.6         2.6
                 Other Import                                8.0          7.2                   7.7         7.5
                 Import total                                48.0         44.4                  46.4        44.2
                 Premium Luxury:
                 Mercedes-Benz                               7.6          8.1                   8.5         8.9
                 BMW                                         8.1          6.0                   7.4         5.8
                 Lexus                                       3.6          2.7                   3.0         2.5
                 Audi                                        1.9          2.2                   2.3         2.2
                 Jaguar Land Rover                           1.8          2.2                   2.0         2.3
                 Other Premium Luxury                        1.8          1.6                   1.6         1.4
                 Premium Luxury total                        24.8         22.8                  24.8        23.1
                                                             100.0        100.0                 100.0       100.0
AUTONATION, INC
UNAUDITED SUPPLEMENTARY DATA, Continued
($ in millions)
   Capital Expenditures / Stock Repurchases                                               Three Months Ended September 30,            Nine Months Ended September 30,
                                                                                          2021                    2020                2021                 2020
   Capital expenditures (1)                                                             $ 47.5                  $ 37.3              $ 166.2              $ 91.9
   Cash paid for acquisitions, net of cash acquired                                     $ 209.1                 $ -                 $ 209.1              $ 0.4
   Proceeds from exercises of stock options                                             $ 13.6                  $ 30.5              $ 42.6               $ 31.5
   Stock repurchases:
                               Aggregate purchase price                                 $ 879.2                 $ -                 $ 1,921.4            $ 80.0
                               Shares repurchased (in millions)                           7.9                     -                   19.2                 2.5
                               Floorplan Assistance and Expense                           Three Months Ended September 30,                                 Nine Months Ended September 30,
                                                                                          2021                    2020                Variance             2021         2020        Variance
   Floorplan assistance earned (included in cost of sales)                              $ 27.1                  $ 28.9              $ (1.8)              $ 93.9       $ 77.1      $ 16.8
   New vehicle floorplan interest expense                                                 (3.8)                   (10.4)              6.6                  (18.7)       (47.6)      28.9
                               Net new vehicle inventory carrying benefit               $ 23.3                  $ 18.5              $ 4.8                $ 75.2       $ 29.5      $ 45.7
                               Balance Sheet and Other Highlights
                                                                                          September 30, 2021      December 31, 2020   September 30, 2020
   Cash and cash equivalents                                                            $ 72.0                  $ 569.6             $ 350.5
   Inventory                                                                            $ 1,496.6               $ 2,598.5           $ 2,482.5
   Total floorplan notes payable                                                        $ 1,248.4               $ 2,759.9           $ 2,308.6
   Non-vehicle debt                                                                     $ 2,680.3               $ 2,101.8           $ 2,089.7
   Equity                                                                               $ 2,356.5               $ 3,235.7           $ 3,357.9
   New days supply (industry standard of selling days)                                    10 days                 42 days             43 days
   Used days supply (trailing calendar month days)                                        35 days                 39 days             39 days
                               Key Credit Agreement Covenant Compliance Calculations(2)
   Leverage ratio                                                                                                 1.40x
   Covenant                                                                               less than or equal to   3.75x
   Capitalization ratio                                                                                           48.6%
   Covenant                                                                               less than or equal to   70.0%
   (1)                         Includes accrued construction in progress and excludes property associated with leases entered into during the period
   (2)                         Calculated in accordance with our credit agreement as filed with the SEC
AUTONATION, INC.
UNAUDITED SUPPLEMENTARY DATA, Continued
($ in millions, except per share data)
Comparable Basis Reconciliations(1)
                                                                               Three Months Ended September 30,
                                                                               Gross Profit                       Operating Income                   Income from Continuing            Income Tax Provision(2)          Effective Tax Rate   Net Income                        Diluted Earnings Per Share(3)
                                                                                                                                                     Operations Before
                                                                                                                                                     Income Taxes
                                                                               2021             2020              2021             2020              2021             2020             2021             2020            2021    2020         2021             2020             2021               2020
As reported                                                                                                                                                                                                                                $ 361.7          $ 182.6          $ 5.12             $ 2.05
                    Discontinued operations, net of income taxes                                                                                                                                                                             -                -              $ -                $ -
From continuing operations, as reported                                        $      1,271.9   $         971.5 $ 503.3          $ 271.7           $ 473.5          $ 243.5          $ 111.8          $ 60.9            23.6%   25.0%        361.7            182.6          $ 5.12             $ 2.05
                    Loss on equity investment                                  -                -                 -                -                 -                2.0              -                0.5                                  -                1.5            $ -                $ 0.02
                    ACP inventory valuation adjustment                         -                20.6              -                20.6              -                20.6             -                5.0                                  -                15.6           $ -                $ 0.18
                    SG&A costs associated with exit of ACP business(4)         -                -                 -                2.9               -                2.9              -                0.7                                  -                2.2            $ -                $ 0.02
                    Other costs associated with exit of ACP business(5)        -                -                 -                13.0              -                13.0             -                3.1                                  -                9.9            $ -                $ 0.11
Adjusted                                                                       $      1,271.9   $         992.1 $ 503.3          $ 308.2           $ 473.5          $ 282.0          $ 111.8          $ 70.2            23.6%   24.9%      $ 361.7          $ 211.8          $ 5.12             $ 2.38
                                                                               Three Months Ended September 30,
                                                                               SG&A                               SG&A as a Percentage of
                                                                                                                  Gross Profit (%)(6)
                                                                               2021             2020              2021             2020
As reported                                                                    $         723.7  $         641.4   56.9             66.0
                    Excluding SG&A costs associated with exit of ACP business  -                2.9
Adjusted                                                                       $         723.7  $         638.5   56.9             64.4
(1)                 Please refer to the "Non-GAAP Financial Measures" section of the Press Release.
(2)                 Tax expense is determined based on the amount of additional taxes or tax benefits associated with each individual item.
(3)                 Diluted earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.
(4)                 Includes $2.1 million related to accelerated amortization and $0.8 million related to involuntary termination benefits.
(5)                 Includes $7.3 million related to contract termination charges, $2.9 million related to accelerated depreciation, and $2.8 million related to asset impairments.
(6)                 Both numerator and denominator are adjusted, as applicable.
AUTONATION, INC.
UNAUDITED SUPPLEMENTARY DATA, Continued
($ in millions, except per share data)
Comparable Basis Reconciliations(1)
                                                                               Nine Months Ended September 30,
                                                                               Gross Profit                       Operating Income                   Income from Continuing            Income Tax Provision(2)          Effective Tax Rate   Net Income                        Diluted Earnings Per Share(3)
                                                                                                                                                     Operations Before
                                                                                                                                                     Income Taxes
                                                                               2021             2020              2021             2020              2021             2020             2021             2020            2021    2020         2021             2020             2021               2020
As reported                                                                                                                                                                                                                                  $        985.9   $        230.1   $      12.62       $          2.59
                    Discontinued operations, net of income taxes                                                                                                                                                                             0.2              0.2              $              -   $                -
From continuing operations, as reported                                        $      3,631.0   $      2,579.7    $      1,370.4   $         253.8   $      1,302.4   $        348.8   $        316.3   $        118.5  24.3%   34.0%        986.1            230.3            $      12.63       $          2.59
                    Gain on equity investment                                  -                -                 -                -                 (7.5)            (212.7)          (1.8)            (53.7)                               (5.7)            (159.0)          $      (0.07)      $         (1.79)
                    ACP inventory valuation adjustment                         -                20.6              -                20.6              -                20.6             -                5.0                                  -                15.6             $             -    $          0.18
                    SG&A costs associated with exit of ACP business(4)         -                -                 -                2.9               -                2.9              -                0.7                                  -                2.2              $             -    $          0.02
                    Other costs associated with exit of ACP business(5)        -                -                 -                13.0              -                13.0             -                3.1                                  -                9.9              $             -    $          0.11
                    Executive separation costs                                 -                -                 -                5.5               -                5.5              -                1.0                                  -                4.5              $             -    $          0.05
                    Goodwill and franchise rights impairment                   -                -                 -                375.8             -                375.8            -                67.4                                 -                308.4            $             -    $          3.47
                    Asset impairments and net gains on store dispositions      -                -                 -                8.4               -                8.4              -                2.2                                  -                6.2              $             -    $          0.07
Adjusted                                                                       $      3,631.0   $      2,600.3    $      1,370.4   $         680.0   $      1,294.9   $        562.3   $        314.5   $        144.2  24.3%   25.6%        $        980.4   $        418.1   $      12.55       $          4.70
                                                                               Nine Months Ended September 30,
                                                                               SG&A                               SG&A as a Percentage of
                                                                                                                  Gross Profit (%)(6)
                                                                               2021             2020              2021             2020
As reported                                                                    $      2,120.5   $      1,790.0    58.4             69.4
                    Excluding SG&A costs associated with exit of ACP business  -                2.9
                    Excluding executive separation costs                       -                5.5
Adjusted                                                                       $      2,120.5   $      1,781.6    58.4             68.5
(1)                 Please refer to the "Non-GAAP Financial Measures" section of the Press Release.
(2)                 Tax expense is determined based on the amount of additional taxes or tax benefits associated with each individual item.
(3)                 Diluted earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.
(4)                 Includes $2.1 million related to accelerated amortization and $0.8 million related to involuntary termination benefits.
(5)                 Includes $7.3 million related to contract termination charges, $2.9 million related to accelerated depreciation, and $2.8 million related to asset impairments.
(6)                 Both numerator and denominator are adjusted, as applicable.
AUTONATION, INC.
UNAUDITED SAME STORE DATA
($ in millions, except per vehicle data)
                              Operating Highlights        Three Months Ended September 30,                                     Nine Months Ended September 30,
                                                          2021          2020                 $ Variance    % Variance          2021          2020           $ Variance    % Variance
Revenue:
               New vehicle                              $ 2,753.8       2,743.2            $ 10.6          0.4               $ 9,156.7       7,278.0      $ 1,878.7       25.8
                              Retail used vehicle         2,146.6       1,418.3              728.3         51.4                5,867.2       3,837.2        2,030.0       52.9
                              Wholesale                   164.6         95.7                 68.9          72.0                406.3         244.1          162.2         66.4
               Used vehicle                               2,311.2       1,514.0              797.2         52.7                6,273.5       4,081.3        2,192.2       53.7
               Finance and insurance, net                 348.3         280.8                67.5          24.0                1,029.3       762.0          267.3         35.1
                              Total variable operations   5,413.3       4,538.0              875.3         19.3                16,459.5      12,121.3       4,338.2       35.8
               Parts and service                          942.4         836.9                105.5         12.6                2,740.8       2,364.6        376.2         15.9
               Other                                      10.0          5.4                  4.6                               25.8          40.4           (14.6)
Total revenue                                           $ 6,365.7       5,380.3            $ 985.4         18.3              $ 19,226.1      14,526.3     $ 4,699.8       32.4
Gross profit:
               New vehicle                              $ 319.6         166.9              $ 152.7         91.5              $ 829.5         382.7        $ 446.8         116.7
                              Retail used vehicle         162.2         128.5                33.7          26.2                466.9         317.7          149.2         47.0
                              Wholesale                   13.9          18.1                 (4.2)                             51.2          36.8           14.4
               Used vehicle                               176.1         146.6                29.5          20.1                518.1         354.5          163.6         46.1
               Finance and insurance                      348.3         280.8                67.5          24.0                1,029.3       762.0          267.3         35.1
                              Total variable operations   844.0         594.3                249.7         42.0                2,376.9       1,499.2        877.7         58.5
               Parts and service                          424.3         391.5                32.8          8.4                 1,244.4       1,084.2        160.2         14.8
               Other                                      1.4           0.7                  0.7                               3.7           2.3            1.4
Total gross profit                                      $ 1,269.7       986.5              $ 283.2         28.7              $ 3,625.0       2,585.7      $ 1,039.3       40.2
Retail vehicle unit sales:
               New                                        58,276        65,838               (7,562)       (11.5)              204,569       176,796        27,773        15.7
               Used                                       77,073        64,393               12,680        19.7                228,944       179,051        49,893        27.9
                                                          135,349       130,231              5,118         3.9                 433,513       355,847        77,666        21.8
Revenue per vehicle retailed:
               New                                      $ 47,254        41,666             $ 5,588         13.4              $ 44,761        41,166       $ 3,595         8.7
               Used                                     $ 27,852        22,026             $ 5,826         26.5              $ 25,627        21,431       $ 4,196         19.6
Gross profit per vehicle retailed:
               New                                      $ 5,484         2,535              $ 2,949         116.3             $ 4,055         2,165        $ 1,890         87.3
               Used                                     $ 2,104         1,996              $ 108           5.4               $ 2,039         1,774        $ 265           14.9
               Finance and insurance                    $ 2,573         2,156              $ 417           19.3              $ 2,374         2,141        $ 233           10.9
               Total variable operations(1)             $ 6,133         4,424              $ 1,709         38.6              $ 5,365         4,110        $ 1,255         30.5
                              Operating Percentages       Three Months Ended September 30,   Nine Months Ended September 30,
                                                          2021 (%)      2020 (%)             2021 (%)      2020 (%)
Revenue mix percentages:
               New vehicle                                43.3          51.0                 47.6          50.1
               Used vehicle                               36.3          28.1                 32.6          28.1
               Parts and service                          14.8          15.6                 14.3          16.3
               Finance and insurance, net                 5.5           5.2                  5.4           5.2
               Other                                      0.1           0.1                  0.1           0.3
                                                          100.0         100.0                100.0         100.0
Gross profit mix percentages:
               New vehicle                                25.2          16.9                 22.9          14.8
               Used vehicle                               13.9          14.9                 14.3          13.7
               Parts and service                          33.4          39.7                 34.3          41.9
               Finance and insurance                      27.4          28.5                 28.4          29.5
               Other                                      0.1           -                    0.1           0.1
                                                          100.0         100.0                100.0         100.0
Operating items as a percentage of revenue:
               Gross profit:
                              New vehicle                 11.6          6.1                  9.1           5.3
                              Used vehicle - retail       7.6           9.1                  8.0           8.3
                              Parts and service           45.0          46.8                 45.4          45.9
                              Total                       19.9          18.3                 18.9          17.8
(1)                           Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit sales.

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