For Immediate Release
Chicago, IL – February 12, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: AutoNation, Inc. (AN), Ford (F), Toyota (TM), Honda (HMC) and Nissan (NSANY).
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Here are highlights from Thursday’s Analyst Blog:
AutoNation Profit More Than Doubles
AutoNation, Inc. (AN) has posted a profit of $50 million or 29 cents per share (before special items) in the fourth quarter of 2009, which is more than double the $23 million or 13 cents per share (before special items) in the prior-year period.
The largest automotive retailer in the U.S. has also inched past the Zacks Consensus Estimate of 27 cents per share. The company attributed the EPS growth to a lowering of structural costs and debt levels and an efficient management of its inventory.
Consolidated revenue scaled up 8% to $2.8 billion, driven by strong new vehicle unit sales (an increase of 7%). Same-store sales increased 9% to $2.81 billion. In the reported quarter, total U.S. industry new vehicle retail unit sales increased 6%, based on CNW Research data.
Sales in AutoNation’s Domestic segment — stores that sell vehicles manufactured by General Motors, Ford (F) and Chrysler — advanced 5% to $893 million. Segment operating income improved to $26 million from $16 million in the fourth quarter of 2008.
Sales in the Import segment — stores that sell vehicles manufactured primarily by Toyota (TM), Honda (HMC) and Nissan (NSANY) — went up 9% to $1.04 billion. Segment operating income rose to $41 million from $21 million in the fourth quarter of 2008.
Sales in the Premium Luxury segment — stores that sell vehicles manufactured primarily by Mercedes, BMW and Lexus — escalated 10% to $860 million. Segment operating income increased to $48 million from $39 million in the fourth quarter of 2008.
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