Every material Form 8-K AutoNation filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
AutoNation reported third-quarter 2024 results for the quarter ended September 30, 2024, with revenue of $6.6 billion, down 4% from a year earlier, and diluted EPS of $4.61 versus $5.54. The company said residual effects of the July CDK outage reduced EPS by an estimated $0.21, and adjusted EPS of $4.02 excluded $0.59 of net favorable items, mainly gains on dispositions.
Diluted EPS $4.61 vs. $5.54 a year earlier; adjusted EPS $4.02 vs. $5.54
Revenue $6.6 billion, down $307 million; net income $185.8 million, down 24%
Company estimated the July CDK outage's residual effects reduced EPS by $0.21
$156 million net divestiture proceeds and $53.9 million pre-tax gain; $965 million left on buyback program
AutoNation reported second quarter 2024 results on July 31, 2024, with revenue of $6.5 billion, down 6% from a year earlier, and diluted EPS of $3.20 versus $6.02. The company says an outage of its dealer management system, caused by a cyber incident at CDK Global, reduced EPS by an estimated $1.55, including $0.79 of one-time costs. Shareholders face lower reported earnings, though the company repurchased $350 million of shares year to date through July 29, 2024.
Diluted EPS $3.20 vs. $6.02 a year earlier; adjusted EPS $3.99 vs. $6.29
Revenue $6.5 billion, down $410 million, mainly due to the CDK outage and lower average vehicle selling prices
CDK outage reduced EPS by an estimated $1.55, including $0.79 of one-time costs
Repurchased $350 million of shares year to date through July 29, 2024; about $971 million remains under the program
AutoNation said a cyber incident at third-party provider CDK Global disrupted its dealer management system and core functions, and it estimates the incident will reduce second-quarter 2024 earnings per share by about $1.50 before any insurance or other recoveries. After that impact, the company estimates GAAP earnings per share for the quarter ended June 30, 2024, will be between $3.15 and $3.30, and these estimates are subject to change. Shareholders face lower reported profit for the quarter, though the company says it does not expect a material effect on its overall financial condition or ongoing operations.
Estimated negative impact of about $1.50 per share on Q2 2024 EPS, before potential recoveries
Impact split roughly evenly between lost income from June 19 to June 30, 2024 and one-time costs, mainly guaranteed compensation to retain commission-based associates
Estimated GAAP EPS for the quarter ended June 30, 2024: $3.15 to $3.30
Dealer management system and core functions restored; ancillary systems expected fully restored before the end of July 2024; second-quarter results due July 31, 2024
AutoNation increased its board to nine directors and appointed Claire Bennett, effective July 8, 2024, as an independent director. The filing describes a standard non-employee director compensation arrangement, and the board has not yet set her committee assignments.
Claire Bennett appointed to the board effective July 8, 2024; board size increased to nine directors
Annual board retainer of $50,000, prorated for 2024, plus meeting expense reimbursement
Committee assignments not yet determined; company plans to file an amendment when available
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every AutoNation filing is on SEC EDGAR ↗. 8-K briefs of other companies →