AN earnings analysis
What we found in AN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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 growth in used vehicles and parts/service, but declines in new vehicles and the Premium Luxury segment. Overall, management anticipates continued investment in service capabilities and adapting to market conditions.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Solid EPS Beat
- Reported EPS was $5.85, exceeding expectations of $4.63 by 26.4%.
- Growth in Used Vehicle Revenue
- Used vehicle revenue increased by $41.4 million to $1.96 billion, a growth of 2.2%.
- Parts and Service Revenue Surged
- Revenue from parts and service increased by $56.9 million to $1.22 billion, a rise of 4.9%.
- Strong Operating Cash Flow
- Net cash provided by operating activities was $22.2 million, compared to a use of $52.5 million during Q1 2025.
- Decrease in Floorplan Interest Expense
- Floorplan interest expense decreased by $4.7 million year-over-year to $41.8 million due to lower average interest rates.
- Increased AutoNation Finance Income
- AutoNation Finance income jumped to $9.4 million from only $0.1 million in the prior year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining New Vehicle Sales
- New vehicle sales dropped by 4,905 units or 7.9% year-over-year to 57,482.
- Lower Gross Profit Margins
- New vehicle gross profit decreased by 17.4% to $144.5 million, negatively affecting overall profitability.
- Increased SG&A Expenses
- SG&A expenses rose by 2.5% to $842.2 million, primarily due to acquisitions and increased advertising costs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $5.85
- Gross margin
- 18.5%
- Operating margin
- 4.8%
- Segment
- Domestic
- Segment
- Import
- Segment
- Premium Luxury
- Segment
- AutoNation Finance
What they said about what is next.
Revised outlook reflects improved market conditions in the automotive sector.
The filing reads better than the one before it.
What came before.
- 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…
- 10-Q · August 1, 2024
- AutoNation reported Q2 revenue of $6,480.4 million, down from $6,890.1 million a year ago, with gross profit declining to $1,163.1 million and operating income falling to $275.0 million. Diluted EPS from continuing…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing AN makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever