AutoNation hosted its fourth-quarter earnings conference call for 2014 on Tuesday, revealing several all-time earnings-related records for the company on both a quarterly and yearly basis.
But first starting with the used-market results, the company’s retail used vehicle unit sales for the fourth quarter of 2014 increased by 9 percent overall, to 53,534 units. On a same-store basis, it was at 52,546 units, reflecting a 7-percent increase. For the entire year, total used units sold jumped to 214,910, marking a 9-percent increase. Same-store figures for the year showed 210,702 used units sold for the year, or a 3.5-percent increase over 2013’s results.
In comparison, AutoNation’s new sales for the year were only slightly better, showing a 9-percent overall increase in sales at 318,008 units in 2014, or, on a same-store basis, a 7-percent increase, at 311,128 units sold.
Total revenue for the year was up 9 percent compared to 2013, up to $19.1 billion, while Q4’s total revenue hauled in $5 billion, a 12-percent increase over the previous year’s results. Operating income was up 11 percent and 12 percent for the year and quarter, respectively, at $821 million for the year and $227 for the fourth quarter.
“We are very pleased with our strong year-over-year growth across all areas of our business, as well as our 17th consecutive quarter of double-digit year-over-year growth in EPS,” said Mike Jackson, the company’s chairman and chief executive officer. “This quarter and year we set another record for the highest ever quarterly and annual EPS from continuing operations.”
The company’s EPS from continuing operations was an all-time record of $1.02, a 23-percent increase compared to the Q4 2013. For the year, the adjusted EPS from continuing operations was $3.49, up 17 percent compared to 2013.
“We are expecting U.S. industry new-vehicle unit sales above 17 million in 2015,” Jackson added.