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Autonation (AN)

AutoNation, America's largest and most recognized automotive retailer, is transforming the automotive industry through its bold leadership, innovation, and comprehensive brand extensions. As of September 30, 2020, AutoNation owned and operated over 325 locations from coast to coast. AutoNation has sold over 12 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 $25 million to drive out cancer, create awareness, and support critical research through its DRIVE PINK initiative, which was officially branded in 2015.

Company profile

Ticker
AN
Exchange
CEO
Michael J. Jackson
Employees
Incorporated
Location
Fiscal year end
Former names
AUTONATION INC /FL, REPUBLIC INDUSTRIES INC, REPUBLIC WASTE INDUSTRIES INC
SEC CIK
Subsidiaries
7 Rod Real Estate North, A Limited Liability Company • 7 Rod Real Estate South, A Limited Liability Company • Abraham Chevrolet-Miami, Inc. • Abraham Chevrolet-Tampa, Inc. • ACER Fiduciary, Inc. • ACP Auto Parts, LLC • ACP Holding Corp. • AL F-L Motors, LLC • AL Fort Payne Motors, LLC • Albuquerque ANUSA, LLC ...
IRS number
731105145

AN stock data

Calendar

21 Jul 22
18 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 336.6M 336.6M 336.6M 336.6M 336.6M 336.6M
Cash burn (monthly) 90.57M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 149.23M n/a n/a n/a n/a n/a
Cash remaining 187.37M n/a n/a n/a n/a n/a
Runway (months of cash) 2.1 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Aug 22 Marc G Cannon Common Stock, par value $0.01 per share Sell Dispose S No No 135.3801 1,649 223.24K 11,788
15 Aug 22 Lampert Edward S Common Stock, par value $0.01 per share Sell Dispose S No No 124.0402 33,504 4.16M 7,265,366
12 Aug 22 George Lawrence Mikan III Common Stock, par value $0.01 per share Sell Dispose S No No 123.9443 15,000 1.86M 32,244
12 Aug 22 George Lawrence Mikan III Common Stock, par value $0.01 per share Option exercise Acquire M No No 48.8 5,000 244K 47,244
12 Aug 22 George Lawrence Mikan III Common Stock, par value $0.01 per share Option exercise Acquire M No No 47.25 5,000 236.25K 42,244
12 Aug 22 George Lawrence Mikan III Common Stock, par value $0.01 per share Option exercise Acquire M No No 46.22 5,000 231.1K 37,244
12 Aug 22 George Lawrence Mikan III Stock Option Common Stock, par value $0.01 per share Option exercise Dispose M No No 48.8 5,000 244K 0
12 Aug 22 George Lawrence Mikan III Stock Option Common Stock, par value $0.01 per share Option exercise Dispose M No No 47.25 5,000 236.25K 0
12 Aug 22 George Lawrence Mikan III Stock Option Common Stock, par value $0.01 per share Option exercise Dispose M No No 46.22 5,000 231.1K 0
11 Aug 22 Lampert Edward S Common Stock, par value $0.01 per share Sell Dispose S No No 124.6148 150,000 18.69M 7,298,870
84.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 411 412 -0.2%
Opened positions 52 45 +15.6%
Closed positions 53 65 -18.5%
Increased positions 128 159 -19.5%
Reduced positions 172 139 +23.7%
13F shares Current Prev Q Change
Total value 5.31B 5.29B +0.5%
Total shares 47.06M 48.16M -2.3%
Total puts 508.4K 663.4K -23.4%
Total calls 578.9K 721.8K -19.8%
Total put/call ratio 0.9 0.9 -4.4%
Largest owners Shares Value Change
Cascade Investment, L.L.C. 9.87M $1.15B 0.0%
Vanguard 4.62M $516.66M -4.1%
BLK Blackrock 3.53M $394.31M -3.6%
Dimensional Fund Advisors 2.68M $299.03M -9.1%
Artisan Partners Limited Partnership 1.32M $147.47M -23.8%
GS Goldman Sachs 1.25M $139.45M -17.1%
STT State Street 1.12M $125.34M -7.7%
Aqr Capital Management 1.01M $111.69M +7.0%
IVZ Invesco 918.85K $102.69M +1.1%
BAC Bank Of America 908.22K $101.5M +79.1%
Largest transactions Shares Bought/sold Change
Schonfeld Strategic Advisors 164.84K -542.98K -76.7%
Fuller & Thaler Asset Management 476.77K +476.77K NEW
Artisan Partners Limited Partnership 1.32M -412.87K -23.8%
BAC Bank Of America 908.22K +401K +79.1%
Natixis 446.4K +370.97K +491.8%
American Century Companies 702.96K +296.32K +72.9%
DB Deutsche Bank AG - Registered Shares 147.03K -287.01K -66.1%
BCS Barclays 719.18K -278.13K -27.9%
Dimensional Fund Advisors 2.68M -267.92K -9.1%
GS Goldman Sachs 1.25M -257.4K -17.1%

Financial report summary

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Competition
CarLotz
Risks
  • The automotive retail industry is sensitive to changing economic conditions and various other factors, including, but not limited to, unemployment levels, consumer confidence, fuel prices, interest rates, and tariffs. Our business and results of operations are substantially dependent on new and used vehicle sales levels in the United States and in our particular geographic markets, as well as the gross profit margins that we can achieve on our sales of vehicles, all of which are very difficult to predict.
  • Our new vehicle sales are impacted by the incentive, marketing, and other programs of vehicle manufacturers.
  • We are dependent upon the success and continued financial viability of the vehicle manufacturers and distributors with which we hold franchises.
  • We are subject to restrictions imposed by, and significant influence from, vehicle manufacturers that may adversely impact our business, financial condition, results of operations, cash flows, and prospects, including our ability to acquire additional stores.
  • We are investing significantly in various strategic initiatives, and if they are not successful, we will have incurred significant expenses without the benefit of improved financial results.
  • If we are not able to maintain and enhance our retail brands and reputation or to attract consumers to our own digital channels, or if events occur that damage our retail brands, reputation, or sales channels, our business and financial results may be harmed.
  • The carrying value of our minority equity investment that does not have a readily determinable fair value is required to be adjusted for observable price changes or impairments, both of which could adversely impact our results of operations and financial condition.
  • New laws, regulations, or governmental policies in response to climate change, including fuel economy and greenhouse gas emission standards, or changes to existing standards, could adversely impact our business, results of operations, financial condition, cash flow, and prospects.
  • We are subject to numerous legal and administrative proceedings, which, if the outcomes are adverse to us, could materially adversely affect our business, results of operations, financial condition, cash flows, and prospects.
  • Our operations are subject to extensive governmental laws and regulations. If we are found to be in purported violation of or subject to liabilities under any of these laws or regulations, or if new laws or regulations are enacted that adversely affect our operations, our business, operating results, and prospects could suffer.
  • A failure of our information systems or any security breach or unauthorized disclosure of confidential information could have a material adverse effect on our business.
  • Our debt agreements contain certain financial ratios and other restrictions on our ability to conduct our business, and our substantial indebtedness could adversely affect our financial condition and operations and prevent us from fulfilling our debt service obligations.
  • We are subject to interest rate risk in connection with our vehicle floorplan payables, revolving credit facility, and commercial paper program that could have a material adverse effect on our profitability.
  • Goodwill and other intangible assets comprise a significant portion of our total assets. We must test our goodwill and other intangible assets for impairment at least annually, which could result in a material, non-cash write-down of goodwill or franchise rights and could have a material adverse impact on our results of operations and shareholders’ equity.
  • Our largest stockholders, as a result of their ownership stakes in us, may have the ability to exert substantial influence over actions to be taken or approved by our stockholders. In addition, future share repurchases and fluctuations in the levels of ownership of our largest stockholders could impact the volume of trading, liquidity, and market price of our common stock.
  • Natural disasters and adverse weather events, including the effects of climate change, can disrupt our business.
Management Discussion
  • Same store new vehicle revenue decreased during the three months ended June 30, 2022, as compared to the same period in 2021, due to a decrease in same store unit volume, partially offset by an increase in same store revenue PVR. Same store unit volume in the current year was adversely impacted by historically low inventory levels due to manufacturer supply shortages.
  • Same store revenue PVR and gross profit PVR both increased during the three months ended June 30, 2022, as compared to the same period in 2021, primarily due to strong demand and reduced availability of new vehicle inventory.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: assumption, auto, CIG, cycle, easy, extend, favorably, headquartered, Hyundai, inflation, Irvine, mobility, model, relationship, singular, transparent
Removed: allocating, calculate, discount, free, inherently, knowledge, original, projected, Rabbi, reconcile, retailer, shared, Trust, uncertain, unpredictable, vesting