AutoNation Inc. (NYSE:AN) Q3 2022 Results Conference Call October 27, 2022 9:00 AM ET
Company Participants
Derek Fiebig - Vice President of Investor Relations
Mike Manley - Chief Executive Officer
Joe Lower - Chief Financial Officer
Conference Call Participants
Rajat Gupta - JPMorgan
Bret Jordan - Jefferies
Daniel Imbro - Stephens Inc.
John Murphy - Bank of America Merrill Lynch
Operator
Good morning. My name is Nadia, and I will be your conference operator today. At this time, I would like to welcome everyone to the AutoNation Third Quarter 2022 Earnings Conference Call. [Operator Instructions]
I would now like to turn the call over to Derek Fiebig, Vice President of Investor Relations. You may begin your conference.
Derek Fiebig
Thank you, Nadia, and good morning, everyone. I'd like to welcome you to AutoNation's Third Quarter '22 Conference Call and Webcast. [Operator Instructions]
Leading our call today will be Mike Manley, our Chief Executive Officer; and Joe Lower, our Chief Financial Officer. Following their remarks, we will open up the call for questions. We will be available by phone after the call to address any additional questions you may have.
Before beginning, let me read a brief statement regarding our forward-looking comments. Certain comments and information on this call, including any statements regarding our anticipated financial results and objectives constitute forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause our actual results or performance to differ materially from such forward-looking statements.
Additional discussions or factors that could cause our actual results to differ materially are contained in our press release issued earlier today and in our filings with the SEC, including our most recent filings on the report Form 10-K and subsequent quarterly reports on Form 10-Q and current reports on Form 8-K.
With that, I'll turn the call over to Mike.
Mike Manley
Yeah. Thanks, Derek. Well, good morning, everybody, and thank you for joining us. Today, we're reporting record third quarter results for the group delivering an operating income of $523 million, which is an increase of 4%. Revenue for the quarter was $6.7 billion, an increase of 4% as well, driven by higher average selling prices of new and used vehicles, continued consistent growth in our After-Sales and our Customer Financial Services, which more than offset lower sales of new and used vehicles.