AutoNation Bolstered by Higher Car Prices as Earnings Top Estimates. Stock Up.

AutoNation reported record fourth-quarter profit, partly benefiting from higher prices of vehicles.

The company’s (ticker: AN) earnings showed an adjusted profit of $6.37 per share—its highest ever for a fourth quarter, which beat the consensus expectation of analysts tracked by


FactSet


of $5.83 per share. Revenue of $6.7 billion also beat an expected $6.5 billion, driven by “higher average selling prices of vehicles,” a press release from the company noted.