AutoNation Inc. on Friday reported first quarter earnings of $92 million.
On a per-share basis, the Fort Lauderdale, Florida-based company said it had net income of $1.01. Earnings, adjusted for restructuring costs and to account for discontinued operations, came to $1.05 per share.
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The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The auto retailer posted revenue of $4.98 billion in the period, which missed Street forecasts. Twelve analysts surveyed by Zacks expected $5.22 billion.
AutoNation shares have increased 11% since the beginning of the year, while the Standard & Poor's 500 index has increased 17%. The stock has fallen 15% in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on AN at https://www.zacks.com/ap/AN