By Josée Rose
AutoNation's fourth-quarter profit fell slightly on higher expenses, but its revenue rose.
The car-dealership chain posted fourth-quarter net income of $186.1 million, or $4.64 a share, compared with $216.2 million, or $5.04 a share, a year earlier.
On an adjusted basis, earnings were $4.97 a share.
Revenue rose to $7.21 billion compared with $6.77 billion a year ago, as same-store revenue increased 8%.
Analysts, on average, were expecting adjusted earnings of $4.26 a share on revenue of $6.8 billion.
AutoNation said new vehicle revenue rose 12.1% to $3.78 billion, while used vehicle revenue edged up slightly to $1.91 billion.
The cost of sales and selling, general and administrative expenses ticked up during the quarter, denting the bottom line.
AutoNation shares edged up almost 2% in recent premarket trading to $196.29. Shares have risen 30% in the past 52 weeks of trading.
Write to josee.rose@wsj.com
(END) Dow Jones Newswires
February 11, 2025 07:55 ET (12:55 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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