AutoNation Q1 Profit Increases - Quick Facts

(RTTNews) - AutoNation Inc. (AN), automotive retailer, reported that its first quarter 2015 net income rose to $111.5 million or $0.97 per share, from $95.1 million or $0.78 per share in the prior year.

Adjusted net income from continuing operations for the prior year quarter was $91 million, or $0.75 per share.

First quarter 2015 revenue totaled $4.9 billion, an increase of 13%, driven by stronger performance in all business sectors - new vehicles, used vehicles, parts and service, and finance and insurance.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.89 per share and revenues of $4.84 billion for the quarter. Analysts' estimates typically exclude special items.

In the first quarter of 2015, AutoNation's retail new vehicle unit sales increased 10% overall and 9% on a same store basis, while retail used vehicle unit sales increased 12% overall and 11% on a same store basis.

Commenting on the quarterly results, Mike Jackson, Chairman, Chief Executive Officer and President, said, ­­­­"AutoNation delivered its 18th consecutive quarter of double-digit year-over-year growth in EPS as we increased profitability in each of our business sectors....... We continue to expect U.S. industry new vehicle unit sales above 17 million in 2015"