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Financial Briefs 3/9/20

AutoNation Inc. reported $891.30 million in fourth-quarter 2019 parts and service revenue — an increase of 2.7% compared to the previous year. Parts and service gross profit grew 2.8% to $402.80 million. On a same-store basis, gross profit rose 4.0%.

• For the fourth quarter of 2019, the Penske Automotive Group reported $541.90 million in service and parts revenue from its retail automotive operations — an increase of 1.0% year-over-year. On a same-store basis, revenue was up 2.7%. Service and parts gross profit from retail automotive operations grew 2.1% to $324.40 million. On a same-store basis, gross profit rose 3.2%.

• Sonic Automotive reported $346.51 million in parts, service and collision repair (fixed operations) revenue for the fourth quarter of 2019 — up 2.1% compared to the previous year. On a same-store basis, fixed operations revenue increased 6.8%. Same-store customer-pay revenue grew 7.8% to $139.27 million, while same-store wholesale parts revenue rose 8.0% to $39.40 million. Sonic’s fixed operations gross profit increased 0.9% to $165.29 million in the fourth quarter of 2019 (up 6.1% on a same-store basis).

• For the fourth quarter of 2019, Lithia Motors saw its service, body and parts revenue rise 5.7% to $331.80 million (up 3.7% on a same-store basis). Same-store service, body and parts gross profit grew 5.7% to $159.60 million, with same-store gross margin up 100 basis points to 50.2%.

• Group 1 Automotive’s fourth-quarter 2019 parts and service sales increased 6.9% to $379.20 million in the fourth quarter of 2019. U.S. parts and service sales rose 7.5% to $312.30 million. On a same-store basis, U.S. parts and service sales grew 8.1%. U.S. parts and service gross profit rose 11.6% to $169.20 million, with same-store gross profit up 11.9%. Group 1’s consolidated parts and service gross profit increased 10.1% to $204.30 million.

• For the fourth quarter of 2019, the Asbury Automotive Group came through with $211.10 million in parts and service revenue — a rise of 8.8% year-over-year. On a same-store basis, revenue increased 4.6%. Parts and service gross profit grew 8.1% to $141.90 million. On a same-store basis, gross profit increased 4.1%. Same-store customer-pay gross profit rose 4.2% to $76.50 million, while same-store wholesale parts gross profit increased 1.7% to $6.00 million.

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