10-Q · May 1, 2026
AutoNation, Inc. reported Q1 2026 results with revenue of $6.55 billion, missing estimates of $6.65 billion by 1.5%. However, EPS was above forecasts at $5.85 compared to the expected $4.63. Segment performance revealed…
Earnings analysis · 10-Q
AN earnings analysis
Filed October 30, 2026 · Our reading of the company's report
The latest report
AutoNation delivered approximately $7.01 billion of revenue and $5.11 of EPS, with revenue up sequentially but down modestly year over year and EPS below both prior comparison periods. The company expanded repurchase…
Read full summary
AutoNation delivered approximately $7.01 billion of revenue and $5.11 of EPS, with revenue up sequentially but down modestly year over year and EPS below both prior comparison periods. The company expanded repurchase capacity to $1.4 billion and increased commercial paper capacity to $2.0 billion, but higher variable-rate floorplan and commercial paper balances increased interest-rate sensitivity. No quantitative forward guidance was provided.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $5.11
What stood out
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Revenue recovered sequentially
Revenue was approximately $7.01 billion, up from $6.93 billion in Q2 2026, or approximately 1.2%, but down from $7.04 billion in Q3 2025, or approximately 0.4%.
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EPS exceeded consensus but declined
Reported EPS was $5.11 versus $5.39 in Q2 2026 and $5.65 in Q3 2025, representing sequential and year-over-year declines of approximately 5.2% and 9.6%, respectively; EPS was slightly above the $5.10 consensus estimate.
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Accelerated share repurchases
AutoNation repurchased 841,913 shares during the quarter, including 496,368 shares in September at an average price of $185.49. Approximately $456.0 million remained available under the existing authorization at September 30, 2026.
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Repurchase capacity expanded
The October 2026 board authorization increased aggregate repurchase capacity to $1.4 billion, including an additional $1.0 billion authorization.
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Expanded liquidity access
The commercial paper program was increased to $2.0 billion from $1.9 billion, providing additional short-term funding capacity; the company stated that its revolving credit facility would remain the liquidity backstop.
What to watch
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Higher floorplan interest exposure
Variable-rate vehicle floorplan payable increased to $4.0 billion at September 30, 2026 from $3.8 billion at December 31, 2025. A 100-basis-point rate increase would raise annual floorplan interest expense by approximately $40.2 million, up from $38.3 million based on year-end balances.
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Commercial paper borrowings increased
Commercial paper outstanding increased to $555.0 million from $200.0 million at December 31, 2025. A 100-basis-point rate increase would increase annual interest expense by approximately $5.6 million versus $2.0 million at year-end.
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Greater equity valuation exposure
Equity investments without readily determinable fair values increased to $123.3 million from $50.8 million at December 31, 2025. A hypothetical 10% observable price change would affect gain or loss by approximately $12.3 million versus $5.1 million at year-end.
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Earnings momentum weakened
EPS declined to $5.11 from $5.39 sequentially and $5.65 year over year, indicating weaker earnings momentum despite revenue of approximately $7.01 billion.
Management's outlook
No quantitative forward revenue or EPS guidance was provided in the filing or accompanying earnings disclosure.
Earlier filings 4
10-K · February 12, 2026
AutoNation describes a scale-driven omnichannel retail strategy focused on premium/import franchises, after-sales growth, and expansion of its captive finance business. 2025 showed modest revenue growth versus 2024…
10-Q · October 23, 2025
AutoNation reported Q3 revenue of $7,037.4 million, up $451.3 million (+6.9%) year-over-year and up modestly vs the prior quarter. Gross profit rose to $1,238.4 million but gross margin compressed to ~17.6% from ~18.0%…
10-Q · April 25, 2025
AutoNation reported modest revenue growth to $6,690.4 million (up $204.7 million vs. $6,485.7 million) with gross profit rising to $1,219.9 million but operating income slipping slightly to $336.0 million. Diluted EPS…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.