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Investing.com – AutoNation (NYSE:AN) rose 6.6% Thursday after reporting earnings that beat expectations.
Auto retailers Lithia Motors (NYSE:LAD) was up almost 9% and Penske rose 2%.
AutoNation reported second quarter earnings per share of $1.41 on same-store revenue of $4.5 billion. Analysts polled by Investing.com anticipated EPS of 18 cents on revenue of $3.7 billion.
Shares of AutoNation are trading at their highest in two years, and have more than doubled since March.
On Wednesday, Lithia reported second quarter revenue of $2.8 billion, which compares to the estimated $2.5 billion. Adjusted net income per diluted share was $3.72, a 26% increase from the second quarter in 2019, and in comparison to the $1.32 estimated by analysts surveyed by Investing.com.
