4 Ways AutoNation Is Hitting the Accelerator in Mid-2021
The share price of AutoNation (NYSE: AN) revved up early this week after the auto retailer reported second-quarter (Q2) 2021 revenue and earnings, handily outdoing analyst forecasts on Monday, July 19. In fact, the company surpassed all past performance, with CEO Mike Jackson remarking, "we reported all-time record quarterly results" during the Q2 earnings conference call. He also forecasted that the tsunami of profit will continue for at least another year. There are at least four factors suggesting his optimism may be right.
"Nothing succeeds like success," according to the old saying, and AutoNation's most recent quarterly metrics offer proof of its business model being able to generate outstanding results. Making good use of current opportunities, it posted double-digit gains over both Q2 2020 and Q2 2019, with its press release highlighting how the rise in revenue and earnings per share (EPS) isn't just rebounding from 2020's COVID-19 trough, but is sustained, swiftly increasing growth continuing from the pre-pandemic days.
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Source Fool.com