AutoNation news, including its earnings report and a change in CEOs, has AN stock down on Friday.
Starting off with its earnings report for the fourth quarter of 2018, AutoNation (NYSE:AN) reported earnings per share of $1.02. This is the same as the company’s earnings per share from the same time last year. However, it is bad news for AN stock by coming in below Wall Street’s earnings per share estimate of $1.14 for the quarter.
The AutoNation news also includes net income of $92.70 million for the fourth quarter of the year. The automotive retailer’s net income from the same period of the year prior was $151.30 million.
Operating income reported by AutoNation in the fourth quarter of 2018 comes in at $197.30 million. This is a drop from the company’s operating income of $229.30 million reported in the fourth quarter of 2017.
Revenue in the AutoNation news release for its fourth quarter earnings report is $5.41 billion. This is down from the company’s revenue of $5.68 billion reported in the fourth quarter of the previous year. It was also a blow to AN stock by missing analysts’ revenue estimate of $5.63 billion for the period.
The AutoNation news continues with President, CEO and Chairman Mike Jackson being replaced by Carl Liebert. Liebert will take over the roles of President and CEO on March 11, 2019. At this time, Jackson will become the Executive Chairman of the Board.
AN stock was down 4% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.