AutoNation, Inc. (NYSE:AN) Q2 2024 Earnings Call Transcript October 25, 2024 9:00 AM ET

Company Participants

Derek Fiebig - Vice President of Investor Relations
Mike Manley - Chief Executive Officer and Director
Tom Szlosek - Executive Vice President and Chief Financial Officer

Conference Call Participants

John Murphy - Bank of America
Rajat Gupta - JPMorgan
Michael Ward - Freedom Capital
Jeff Lick - Stephen
Colin Langan - Wells Fargo
Douglas Dutton - Evercore ISI

Operator

Good morning. My name is Harry, and I'll be your conference operator today. At this time, I would like to welcome everyone to the AutoNation Incorporated 3Q 2024 Earnings Call [Operator Instructions] Thank you.

I would now like to turn the call over to Derek Fiebig, Vice President of Investor Relations. You may begin.

Derek Fiebig

Thanks Harry, and good morning, everyone. Welcome to AutoNation's third quarter 2024 conference call. Leading our call today will be Mike Manley, our Chief Executive Officer; and Tom Szlosek, our Chief Financial Officer. Following their remarks, we will open up the call for questions. Before we begin, I'd like to remind you that 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 today and in our filings with the SEC. Certain non-GAAP financial measures, as defined in our SEC rules, will be discussed on this call. Reconciliations are provided in our materials and on our website located at investor.autonation.com.

With that, I'll turn the call over to Mike.

Mike Manley

Thanks Derek, and good morning, everyone. Thank you for joining us today. I'm on the third slide. I think the third quarter once again showed the resolve of the AutoNation team in what was a challenging environment and notwithstanding the well-known headwinds in the quarter. I'm very pleased to report a number of highlights across our business. In New Vehicle sales, we increased our market share, unlocking all the flow-through benefits generated by a New Vehicle sale and delivering a welcome reversal of the share performance we experienced at the end of June as a result of our system's outage.