AutoNation, Inc. (NYSE:AN) Q2 2022 Earnings Conference Call July 21, 2022 9:00 AM ET

Company Participants

Ankur Shah - Director, IR

Michael Manley - CEO

Joe Lower - EVP and CFO

Conference Call Participants

Rajat Gupta - J.P. Morgan

John Murphy - Bank of America

Daniel Imbro - Stephens, Inc.

Adam Jonas - Morgan Stanley

Operator

Good morning. My name is Candice and I'll be your conference operator today. At this time, I would like to welcome you to the AutoNation Second Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks there will the question-and-answer session. [Operator Instructions]. Thank you. I would now like to turn the call over to Ankur Shah, Director of Investor Relations. You may now begin your conference.

Ankur Shah

Good morning and welcome to AutoNation's second quarter 2022 conference call and webcast. Please ensure that your lines are muted until the operator announces your turn to ask a question. Leading our call today will be Mike Manley, our Chief Executive Officer; and Joe Lower, our Chief Financial Officer. Also joining the call is Derek Fiebig, Vice President of Investor Relations. 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 that you may have.

Before beginning let me read our brief statement regarding forward-looking comments. Certain statements 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 of factors that could cause our actual results to differ materially are contained in our press release issued earlier today and in our SEC filings, including our most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and current reports on Form 8-K. With that I will turn the call over to AutoNation’s Chief Executive Officer,

Mike Manley.

Michael Manley

Thanks Ankur. Bright morning everyone and thank you for joining us. Firstly, I really do want to just spend little bit time to thank all of the team at AutoNation for continuing to deliver great results in the quarter which obviously enabled Joe and I to report another record performance. As usual Joe is going to take you through the numbers in detail and I'll begin with the general overview of performance. So from a substantially flat year-over-year revenue of $6.9 billion we were able to increase our operating income by 5% to 558 million which as I already mentioned is a record for the group. Our earnings per share for the quarter was also a record of $6.48, a year-over-year increase of 34%.