AutoNation beats 3Q profit forecasts

Markets Associated Press

AutoNation Inc. (AN) on Thursday reported third-quarter profit of $97.5 million.

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The Fort Lauderdale, Florida-based company said it had profit of $1 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.08 per share.

The results topped Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The auto retailer posted revenue of $5.43 billion in the period, missing Street forecasts. Seventeen analysts surveyed by Zacks expected $5.57 billion.

AutoNation shares have decreased 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 15 percent. The stock has climbed 11 percent in the last 12 months.

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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