Autonation reports $162.3 million net income for Q3 2026

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For the quarterly period ended June September 30, 2026

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As of July 29, October 28, 2026, the registrant had 33,060,806 31,983,552 shares of common stock outstanding.

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Financial statements 395 changes

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Cash and cash equivalents $ 53.3 51.2 $ 58.6

Receivables, net 834.3 781.3 948.4

Inventory 3,738.1 3,674.4 3,404.9

Other current assets 220.7 227.8 235.8

Total Current Assets 4,846.4 4,734.7 4,647.7

AUTO LOANS RECEIVABLE, net of allowance for credit losses of $ 109.8 114.6 million and $ 95.4 million, respectively, (including auto loans receivable of consolidated variable interest entities of $ 1.9 billion and $ 551.1 million, respectively)

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OPERATING LEASE ASSETS 450.4 439.0 456.4

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OTHER ASSETS 891.5 753.5

OTHER INTANGIBLE ASSETS, NET 1,248.1 1,247.7 1,028.9

OTHER ASSETS 933.9 753.5

Total Assets $ 15,484.2 15,599.6 $ 14,392.2

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Accounts payable 339.0 369.9

NON-RECOURSE DEBT, NET OF CURRENT PORTION 2,333.9 1,880.8

OTHER LIABILITIES 427.8 399.0

Vehicle floorplan payable - trade $ 2,254.1 2,263.3 $ 2,200.6

Vehicle floorplan payable - non-trade 1,804.8 1,756.1 1,627.7

Accounts payable 349.2 369.9

Commercial paper 635.0 555.0 200.0

Current maturities of long-term debt 74.9 75.0 74.7

Current portion of non-recourse debt 83.3 90.8 63.8

Other current liabilities 1,006.3 1,057.7 1,003.9

Total Current Liabilities 6,197.4 6,147.1 5,540.6

LONG-TERM DEBT, NET OF CURRENT MATURITIES 3,717.4 3,713.7 3,704.8

NON-RECOURSE DEBT, NET OF CURRENT PORTION (including non-recourse debt, net of current portion, of consolidated variable interest entities of $ 1.8 billion and $ 530.0 million, respectively)

NONCURRENT OPERATING LEASE LIABILITIES 427.9 416.2 431.8

DEFERRED INCOME TAXES 120.7 127.3 94.1

OTHER LIABILITIES 433.7 399.0

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Common stock, par value $ 0.01 per share; 1,500,000,000 shares authorized; 63,562,149 shares issued at June September 30, 2026, and December 31, 2025, including shares held in treasury

Additional paid-in capital 15.7 24.4 32.0

Retained earnings 6,353.1 6,515.4 5,976.1

Treasury stock, at cost; 30,434,120 31,273,860 and 28,362,366 shares held, respectively ( 4,110.3 4,274.6 ) ( 3,667.6 )

Total Shareholders' Equity 2,259.1 2,265.8 2,341.1

Total Liabilities and Shareholders' Equity $ 15,484.2 15,599.6 $ 14,392.2

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New vehicle $ 3,292.7 $ 3,396.3 $ 6,303.7 $ 6,644.4

Used vehicle 2,011.4 1,985.0 3,975.2 3,907.4

Parts and service 1,263.0 1,221.1 2,483.9 2,385.1

Finance and insurance, net 357.6 367.7 709.6 720.2

Other 5.1 4.3 9.5 7.7

TOTAL REVENUE 6,929.8 6,974.4 13,481.9 13,664.8

New vehicle 3,142.1 3,212.9 6,008.6 6,286.1

Used vehicle 1,896.3 1,859.6 3,738.7 3,657.5

Parts and service 655.9 622.5 1,283.4 1,218.8

Other 4.4 4.0 9.0 7.1

TOTAL COST OF SALES 5,698.7 5,699.0 11,039.7 11,169.5

New vehicle 150.6 183.4 295.1 358.3

Used vehicle 115.1 125.4 236.5 249.9

Parts and service 607.1 598.6 1,200.5 1,166.3

Finance and insurance 357.6 367.7 709.6 720.2

Other 0.7 0.3 0.5 0.6

TOTAL GROSS PROFIT 1,231.1 1,275.4 2,442.2 2,495.3

AUTONATION FINANCE INCOME 10.7 2.0 20.1 2.1

Selling, general, and administrative expenses 856.3 854.7 1,698.5 1,676.6

Depreciation and amortization 63.5 63.9 126.5 125.7

Other expense, net 3.0 4.2 4.0 4.5

OPERATING INCOME 319.0 217.6 633.3 553.6

Three Months Ended Six Nine Months Ended

September 30, September 30,

New vehicle $ 3,330.4 $ 3,415.6 $ 9,634.1 $ 10,060.0

Used vehicle 2,035.8 2,015.7 6,011.0 5,923.1

Parts and service 1,290.0 1,226.2 3,773.9 3,611.3

Finance and insurance, net 349.0 374.8 1,058.6 1,095.0

Other 5.1 5.1 14.6 12.8

TOTAL REVENUE 7,010.3 7,037.4 20,492.2 20,702.2

New vehicle 3,191.3 3,264.6 9,199.9 9,550.7

Used vehicle 1,931.7 1,900.8 5,670.4 5,558.3

Parts and service 673.4 629.2 1,956.8 1,848.0

Other 6.3 4.4 15.3 11.5

TOTAL COST OF SALES 5,802.7 5,799.0 16,842.4 16,968.5

New vehicle 139.1 151.0 434.2 509.3

Used vehicle 104.1 114.9 340.6 364.8

Parts and service 616.6 597.0 1,817.1 1,763.3

Finance and insurance 349.0 374.8 1,058.6 1,095.0

Other ( 1.2 ) 0.7 ( 0.7 ) 1.3

TOTAL GROSS PROFIT 1,207.6 1,238.4 3,649.8 3,733.7

AUTONATION FINANCE INCOME 15.4 1.5 35.5 3.6

Selling, general, and administrative expenses 849.1 850.1 2,547.6 2,526.7

Depreciation and amortization 63.8 64.2 190.3 189.9

Goodwill impairment — 65.3 — — 65.3

Franchise rights impairment — 71.7 — — 71.7

Other income, net ( 4.5 ) ( 46.8 ) ( 0.5 ) ( 42.3 )

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and 315 more changes in the filing

Legal proceedings 42 changes

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As of June September 30, 2026 and 2025, we have accrued for the potential impact of loss contingencies that are probable and reasonably estimable, and there was no indication of a reasonable possibility that a material loss, or additional material loss, may have been incurred. We do not believe that the ultimate resolution of these matters will have a material adverse effect on our results of operations, financial condition, or cash flows. However, the results of these matters cannot be predicted with certainty, and an unfavorable resolution of one or more of these matters could have a material adverse effect on our results of operations, financial condition, or cash flows.

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From time to time, primarily in connection with dispositions of automotive stores, we assign or sublet to the store purchaser our interests in any real property leases associated with such stores. In general, we retain responsibility for the performance of certain obligations under such leases to the extent that the assignee or sublessee does not perform, whether such performance is required prior to or following the assignment or subletting of the lease. Additionally, we generally remain subject to the terms of any guarantees made by us in connection with such leases. We generally have indemnification rights against the assignee or sublessee in the event of non-performance under these leases, as well as certain defenses. We presently have no reason to believe that we will be called on to perform under any such remaining assigned leases or subleases. We

From time to time, primarily in connection with dispositions of automotive stores, we assign or sublet to the store purchaser our interests in any real property leases associated with such stores. In general, we retain responsibility for the

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performance of certain obligations under such leases to the extent that the assignee or sublessee does not perform, whether such performance is required prior to or following the assignment or subletting of the lease. Additionally, we generally remain subject to the terms of any guarantees made by us in connection with such leases. We generally have indemnification rights against the assignee or sublessee in the event of non-performance under these leases, as well as certain defenses. We presently have no reason to believe that we will be called on to perform under any such remaining assigned leases or subleases. We estimate that lessee rental payment obligations during the remaining terms of these leases with expirations ranging from 2027 to 2034 are approximately $ 3 million at June September 30, 2026. There can be no assurance that any performance required of us under these leases would not have a material adverse effect on our business, financial condition, and cash flows.

At June September 30, 2026, surety bonds, letters of credit, and cash deposits totaled $ 108.7 107.8 million, of which $ 0.4 million were letters of credit. In the ordinary course of business, we are required to post performance and surety bonds, letters of credit, and/or cash deposits as financial guarantees of our performance. We do not currently provide cash collateral for outstanding letters of credit.

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We own and operate franchised automotive stores in the United States pursuant to franchise agreements with vehicle manufacturers. During the six nine months ended June September 30, 2026, approximately 64 % of our total retail new vehicle unit sales were generated by our stores in Florida, California, and Texas.

We are subject to a concentration of risk in the event of financial distress of or other adverse event related to a major vehicle manufacturer or related lender or supplier. The major brands of vehicles that we sell, representing approximately 88 % of the new vehicles that we sold during the six nine months ended June September 30, 2026, are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, BMW, Mercedes-Benz, Stellantis, and Volkswagen (including Audi and Porsche). Our business could be materially adversely impacted by a bankruptcy of or other adverse event related to a major vehicle manufacturer or related lender or supplier.

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We had receivables from manufacturers or distributors of $ 199.0 198.0 million at June September 30, 2026, and $ 230.6 million at December 31, 2025. Additionally, a large portion of our contracts-in-transit included in Receivables, net, in the accompanying Unaudited Condensed Consolidated Balance Sheets, are due from automotive manufacturers' captive finance subsidiaries, which provide financing directly to our new and used vehicle customers. Concentrations of credit risk with respect to non-manufacturer trade receivables are limited due to the wide variety of customers and markets in which our products are sold as well as their dispersion across many different geographic areas in the United States. Consequently, at June September 30, 2026, we do not consider AutoNation to have any significant non-manufacturer concentrations of credit risk.

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The reportable segments identified above are the business activities of the Company for which discrete financial information is available and for which operating results are regularly reviewed by our chief operating decision maker ("CODM") to allocate resources and assess performance. Our CODM for each of our reportable segments is our Chief

At June September 30, 2026, we had four reportable segments: (1) Domestic, (2) Import, (3) Premium Luxury, and (4) AutoNation Finance. Our Domestic segment is comprised of retail automotive franchises that sell new vehicles manufactured by Ford, General Motors, and Stellantis. Our Import segment is primarily comprised of retail automotive franchises that sell new vehicles manufactured by Toyota, Honda, Hyundai, and Subaru. Our Premium Luxury segment is primarily comprised of retail automotive franchises that sell new vehicles manufactured by Mercedes-Benz, BMW, Lexus, Audi, and Jaguar Land Rover. The franchises in each of our Domestic, Import, and Premium Luxury segments also sell used vehicles, parts and automotive services, and automotive finance and insurance products. Our AutoNation Finance segment is comprised of our captive auto finance company, which provides indirect financing to qualified retail customers on vehicles we sell.

"Corporate and other" is comprised of our non-franchised businesses, including AutoNation USA stores, collision centers, parts distribution centers, and auction operations, all of which generate revenues but do not meet the quantitative thresholds for reportable segments, as well as unallocated corporate overhead expenses, goodwill and franchise right impairments, and other income items.

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reportable segments, as well as unallocated corporate overhead expenses, goodwill and franchise right impairments, and other income items.

The reportable segments identified above are the business activities of the Company for which discrete financial information is available and for which operating results are regularly reviewed by our chief operating decision maker ("CODM") to allocate resources and assess performance. Our CODM for each of our reportable segments is our Chief Executive Officer. For the Domestic, Import, and Premium Luxury segments, our CODM uses Franchised Dealerships - Segment Income (defined as operating income less floorplan expense) to allocate resources to each of these segments during our annual budgeting process. Our CODM evaluates Franchised Dealerships - Segment Income actual results versus budget and prior year on a monthly basis when making decisions about allocating resources to these segments and whether to reinvest profits into each of these segments or into other parts of the Company, such as for acquisitions, strategic initiatives, or share repurchases. Our CODM also uses Franchised Dealerships - Segment Income to assess the underlying operating performance of each of these segments by comparing the results and return on investment for each of these segments.

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Three Months Ended June September 30, 2026

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Total consolidated revenues 6,929.8

Total consolidated revenues 7,010.3

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Depreciation and amortization 11.4 14.4 21.7 14.6 22.8

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Other expense, net (2)

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Other income (loss), net 18.4 ( 2.0 )

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(2) Other expense, net includes asset impairments net of gains on asset dispositions.

(3) (2) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.

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Three Months Ended June September 30, 2025

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Total consolidated revenues 6,974.4

Total consolidated revenues 7,037.4

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Depreciation and amortization 11.5 11.6 12.8 20.1 20.6

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(2) Other income includes net gains on asset dispositions.

(2) (3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.

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Six Months Ended June 30, 2026

Nine Months Ended September 30, 2026

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Total consolidated revenues 13,481.9

Total consolidated revenues 20,492.2

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Depreciation and amortization 22.6 28.0 43.0

Depreciation and amortization 34.0 42.6 65.8

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Other income (loss), net 69.6 67.6

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Six Months Ended June 30, 2025

Nine Months Ended September 30, 2025

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Total consolidated revenues 13,664.8

Total consolidated revenues 20,702.2

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Depreciation and amortization 22.5 24.8 40.0

Depreciation and amortization 34.1 37.6 60.6

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Other income (loss), net ( 0.9 ) 6.9

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June September 30, 2026 December 31, 2025

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MD&A 632 changes

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AutoNation, Inc., through its subsidiaries, is one of the largest automotive retailers in the United States. As of June September 30, 2026, we owned and operated 327 319 new vehicle franchises from 246 242 stores located in the United States, predominantly in major metropolitan markets in the Sunbelt region. Our stores, which we believe include some of the most recognizable and well known in our key markets, sell 30 different new vehicle brands. The major brands of new vehicles that we sell, representing approximately 88% of the new vehicles that we sold during the six nine months ended June September 30, 2026, are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, BMW, Mercedes-Benz, Stellantis, and Volkswagen (including Audi and Porsche). As of June September 30, 2026, we also owned and operated 52 51 AutoNation-branded collision centers, 24 AutoNation USA stores, 4 AutoNation-branded automotive auction operations, 3 parts distribution centers, and an auto finance company.

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In the second quarter of 2026, U.S. industry retail new vehicle unit sales, which includes sales in markets in which we do not compete, was relatively flat, with a decrease in April offset by increases in May and June, as compared to the same periods in the second quarter of 2025. New vehicle unit sales benefited from accelerated consumer demand in April 2025 following tariff-related announcements, and consumer demand and industry new vehicle unit sales stabilized in the later part of the second quarter of 2025.

At June September 30, 2026, we had four reportable segments: (1) Domestic, (2) Import, (3) Premium Luxury, and (4) AutoNation Finance. Our Domestic segment is comprised of retail automotive franchises that sell new vehicles manufactured by Ford, General Motors, and Stellantis. Our Import segment is primarily comprised of retail automotive franchises that sell new vehicles manufactured by Toyota, Honda, Hyundai, and Subaru. Our Premium Luxury segment is primarily comprised of retail automotive franchises that sell new vehicles manufactured by Mercedes-Benz, BMW, Lexus, Audi, and Jaguar Land Rover. The franchises in each of our Domestic, Import, and Premium Luxury segments also sell used vehicles, parts and automotive services, and automotive finance and insurance products. AutoNation Finance is our captive auto finance company, which provides indirect financing to qualified retail customers on vehicles we sell.

For the six nine months ended June September 30, 2026, new vehicle sales accounted for 47% of our total revenue and 12% of our total gross profit. Used vehicle sales accounted for 29% of our total revenue and 10% 9% of our total gross profit. Our parts and service operations, while comprising 18% of our total revenue, contributed 49% 50% of our total gross profit. Our finance and insurance sales, while comprising 5% of our total revenue, contributed 29% of our total gross profit. Our earnings mix is increasingly shifting toward products and services with recurring income streams including parts and service operations and income generated through our captive finance company.

In the third quarter of 2026, U.S. industry retail new vehicle unit sales, which includes sales in markets in which we do not compete, decreased approximately 2%, as compared to the third quarter of 2025. New vehicle unit sales in the prior year benefited from the acceleration in consumer demand for hybrid and electric vehicles resulting from the phasing out of electric vehicle ("EV") tax credits at the end of the third quarter of 2025.

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Our total gross profit decreased 3% during the second quarter of 2026, compared to the same period in the prior year, driven by decreases in new vehicle gross profit of 18%, used vehicle gross profit of 8%, and finance and insurance gross profit of 3%, partially offset by an increase in parts and service gross profit of 1%, each as compared to the second quarter of 2025. New vehicle gross profit was adversely impacted by a decrease in new vehicle unit volume as the prior year benefited from accelerated consumer demand following tariff-related announcements in April 2025 and a decrease in electric vehicle ("EV")

Net income for the three months ended June 30, 2026, was adversely impacted by after-tax asset impairments, net of gains on property and store dispositions, of $2.4 million and an after-tax net loss from operations of terminated stores of $3.3 million. Net income for the three months ended June 30, 2025, was adversely impacted by non-cash goodwill and franchise rights impairments and other asset adjustments totaling $122.8 million after-tax.

During the three months ended June September 30, 2026, we had net income of $182.1 $162.3 million and diluted earnings per share of $5.39, $4.87, as compared to net income of $86.4 $215.1 million and diluted earnings per share of $2.26 $5.65 during the same period in 2025.

Our total gross profit decreased 2% during the third quarter of 2026, compared to the same period in the prior year, driven by decreases in new vehicle gross profit of 8%, used vehicle gross profit of 9%, and finance and insurance gross profit of 7%, partially offset by an increase in parts and service gross profit of 3%, each as compared to the third quarter of 2025. New vehicle gross profit was adversely impacted by a decrease in EV unit volume in the current year period due in part to the phasing out of EV tax credits at the end of the third quarter of 2025, as well as a decrease in gross profit per vehicle retailed ("PVR") resulting from higher average vehicle costs. Used vehicle gross profit was adversely impacted by a decrease in wholesale gross profit and a decrease in used vehicle retail unit volume primarily due to supply constraints on lower-priced used vehicles. Finance and insurance gross profit was adversely impacted primarily by a decrease in vehicle unit volume. largely offset by an increase in finance and insurance gross profit PVR reflecting higher realized margins on vehicle service contracts and higher gross profit per transaction associated with arranging customer financing. Parts and service results benefited primarily from increases in gross profit associated with customer-pay service of 7% 5% and wholesale parts sales of 9%.

Income from AutoNation Finance ("ANF"), our captive auto finance company, was $15.4 million during the third quarter of 2026, as compared to $1.5 million during the same period in 2025, reflecting an increase in interest and fee income from the growth in average managed receivables of $875.5 million and operational efficiencies as the portfolio scales. As we continue to grow our ANF business, a portion of the income related to customer financing shifts from upfront commissions recognized in finance and insurance gross profit to recurring finance income earned over the life of the loans we originate.

Net income for the three months ended September 30, 2026, was adversely impacted by after-tax self-insured losses of $6.6 million primarily related to severe weather events. Net income for the three months ended September 30, 2025, was favorably impacted by after-tax gains on insurance recoveries of $30.2 million for business interruption and related losses caused by the CDK outage that occurred in June 2024.

Earnings per share for the three months ended September 30, 2026 benefited from the repurchase of 3.1 million shares of common stock during the nine months ended September 30, 2026.

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Our new vehicle inventory units at June September 30, 2026 and 2025, were 45,283 43,831 and 42,600, 43,215, respectively. We have typically not experienced significant losses on the sale of new vehicle inventory, in part due to incentives provided by manufacturers to promote sales of new vehicles and our inventory management practices. We monitor our new vehicle inventory values as compared to net realizable values. Our new vehicle inventory was net of cumulative write-downs of $0.2 $1.6 million at June September 30, 2026, and $1.2 million at December 31, 2025.

Our used vehicle inventory units at June September 30, 2026 and 2025, were 34,777 35,527 and 35,802, 33,911, respectively. We recondition the majority of used vehicles acquired for retail sale in our parts and service departments and capitalize the related costs to the used vehicle inventory. We monitor our used vehicle inventory values as compared to net realizable values. Typically, used vehicles that are not sold on a retail basis are sold at wholesale auctions. Our used vehicle inventory balance was net of cumulative write-downs of $5.7 $6.0 million at June September 30, 2026, and $5.8 million at December 31, 2025.

Parts, accessories, and other inventory are carried at the lower of cost or net realizable value. We estimate the amount of potentially damaged and/or excess and obsolete inventory based upon historical experience, manufacturer return policies, and industry trends. Our parts, accessories, and other inventory balance was net of cumulative write-downs of $9.0 $7.8 million at June September 30, 2026, and $9.5 million at December 31, 2025.

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We prepare our Unaudited Condensed Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles ("GAAP"), which require us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. We evaluate our estimates on an ongoing basis, and we base our estimates on historical experience and various other assumptions we believe to be reasonable. Actual outcomes could differ materially from those estimates in a manner that could have a material effect on our Unaudited Condensed Consolidated Financial Statements. For additional discussion of our critical accounting estimates, please see "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K.

Financial Statements. For additional discussion of our critical accounting estimates, please see "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K.

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Statements for additional information on how the fair values and carrying values of our reporting units are derived for the quantitative goodwill impairment test.

Under accounting standards, we chose to make a qualitative evaluation about the likelihood of goodwill impairment as of April 30, 2026, for our Domestic, Import, Premium Luxury, AutoNation Finance, and Collision Center reporting units and determined that it was not more likely than not that the fair values of these reporting units were less than their carrying amounts. For our Mobile Service reporting unit, we elected to perform a quantitative goodwill impairment test as of April 30, 2026, and no impairment charges resulted from this quantitative test. The fair value of the Mobile Service reporting unit substantially exceeded its carrying value as of April 30, 2026. The quantitative goodwill impairment test is dependent on many variables used to determine the fair value of a reporting unit. See Note 15 of the Notes to Unaudited Condensed Consolidated Financial Statements for additional information on how the fair values and carrying values of our reporting units are derived for the quantitative goodwill impairment test.

As of June September 30, 2026, we have $221.5 million of goodwill related to the Domestic reporting unit, $538.5 million related to the Import reporting unit, $504.6 million related to the Premium Luxury reporting unit, $75.2 million related to the Mobile Service reporting unit, $78.4 million related to the AutoNation Finance reporting unit, and $4.6 million related to the Collision Center reporting unit.

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As of June September 30, 2026, we had 79 stores with franchise rights totaling $1.2 billion.

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New vehicle $ 3,292.7 $ 3,396.3 $ (103.6) (3.1) $ 6,303.7 $ 6,644.4 $ (340.7) (5.1)

Retail used vehicle 1,850.1 1,845.0 5.1 0.3 3,669.7 3,637.1 32.6 0.9

Wholesale 161.3 140.0 21.3 15.2 305.5 270.3 35.2 13.0

Used vehicle 2,011.4 1,985.0 26.4 1.3 3,975.2 3,907.4 67.8 1.7

Finance and insurance, net 357.6 367.7 (10.1) (2.7) 709.6 720.2 (10.6) (1.5)

($ in millions, except per vehicle data) Three Months Ended June September 30, Six Nine Months Ended June September 30, (Unfavorable) % (Unfavorable) %

New vehicle $ 3,330.4 $ 3,415.6 $ (85.2) (2.5) $ 9,634.1 $ 10,060.0 $ (425.9) (4.2)

Retail used vehicle 1,883.3 1,874.3 9.0 0.5 5,553.0 5,511.4 41.6 0.8

Wholesale 152.5 141.4 11.1 7.9 458.0 411.7 46.3 11.2

Used vehicle 2,035.8 2,015.7 20.1 1.0 6,011.0 5,923.1 87.9 1.5

Finance and insurance, net 349.0 374.8 (25.8) (6.9) 1,058.6 1,095.0 (36.4) (3.3)

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Parts and service 1,263.0 1,221.1 41.9 3.4 2,483.9 2,385.1 98.8 4.1

Other 5.1 4.3 0.8 9.5 7.7 1.8

Total revenue $ 6,929.8 $ 6,974.4 $ (44.6) (0.6) $ 13,481.9 $ 13,664.8 $ (182.9) (1.3)

New vehicle $ 150.6 $ 183.4 $ (32.8) (17.9) $ 295.1 $ 358.3 $ (63.2) (17.6)

Retail used vehicle 102.1 113.1 (11.0) (9.7) 207.0 226.1 (19.1) (8.4)

Wholesale 13.0 12.3 0.7 29.5 23.8 5.7

Used vehicle 115.1 125.4 (10.3) (8.2) 236.5 249.9 (13.4) (5.4)

Finance and insurance 357.6 367.7 (10.1) (2.7) 709.6 720.2 (10.6) (1.5)

Parts and service 1,290.0 1,226.2 63.8 5.2 3,773.9 3,611.3 162.6 4.5

Other 5.1 5.1 — 14.6 12.8 1.8

Total revenue $ 7,010.3 $ 7,037.4 $ (27.1) (0.4) $ 20,492.2 $ 20,702.2 $ (210.0) (1.0)

New vehicle $ 139.1 $ 151.0 $ (11.9) (7.9) $ 434.2 $ 509.3 $ (75.1) (14.7)

Retail used vehicle 99.7 102.6 (2.9) (2.8) 306.7 328.7 (22.0) (6.7)

Wholesale 4.4 12.3 (7.9) 33.9 36.1 (2.2)

Used vehicle 104.1 114.9 (10.8) (9.4) 340.6 364.8 (24.2) (6.6)

Finance and insurance 349.0 374.8 (25.8) (6.9) 1,058.6 1,095.0 (36.4) (3.3)

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Parts and service 607.1 598.6 8.5 1.4 1,200.5 1,166.3 34.2 2.9

Other 0.7 0.3 0.4 0.5 0.6 (0.1)

Total gross profit 1,231.1 1,275.4 (44.3) (3.5) 2,442.2 2,495.3 (53.1) (2.1)

AutoNation Finance income 10.7 2.0 8.7 20.1 2.1 18.0

Selling, general, and administrative expenses 856.3 854.7 (1.6) (0.2) 1,698.5 1,676.6 (21.9) (1.3)

Depreciation and amortization 63.5 63.9 0.4 126.5 125.7 (0.8)

Other expense, net 3.0 4.2 1.2 4.0 4.5 0.5

Operating income 319.0 217.6 101.4 46.6 633.3 553.6 79.7 14.4

Parts and service 616.6 597.0 19.6 3.3 1,817.1 1,763.3 53.8 3.1

Other (1.2) 0.7 (1.9) (0.7) 1.3 (2.0)

Total gross profit 1,207.6 1,238.4 (30.8) (2.5) 3,649.8 3,733.7 (83.9) (2.2)

AutoNation Finance income 15.4 1.5 13.9 35.5 3.6 31.9

Selling, general, and administrative expenses 849.1 850.1 1.0 0.1 2,547.6 2,526.7 (20.9) (0.8)

Depreciation and amortization 63.8 64.2 0.4 190.3 189.9 (0.4)

Goodwill impairment — 65.3 65.3 — — — 65.3 65.3

Franchise rights impairment — 71.7 71.7 — — — 71.7 71.7

Other income, net (4.5) (46.8) (42.3) (0.5) (42.3) (41.8)

Operating income 314.6 372.4 (57.8) (15.5) 947.9 926.0 21.9 2.4

1 unchanged paragraph

Floorplan interest expense (43.7) (45.3) 1.6 (85.5) (91.8) 6.3

Other interest expense (49.9) (46.2) (3.7) (97.9) (88.5) (9.4)

Other income (loss), net 18.4 12.3 6.1 69.6 (0.9) 70.5

Income before income taxes $ 243.8 $ 138.4 $ 105.4 76.2 $ 519.5 $ 372.4 $ 147.1 39.5

Floorplan interest expense (45.4) (47.5) 2.1 (130.9) (139.3) 8.4

Other interest expense (51.7) (45.1) (6.6) (149.6) (133.6) (16.0)

Other income (loss), net (2.0) 7.8 (9.8) 67.6 6.9 60.7

Income before income taxes $ 215.5 $ 287.6 $ (72.1) (25.1) $ 735.0 $ 660.0 $ 75.0 11.4

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New vehicle 63,240 65,847 (2,607) (4.0) 120,722 128,234 (7,512) (5.9)

Used vehicle 64,521 69,736 (5,215) (7.5) 130,339 137,736 (7,397) (5.4)

New vehicle 63,929 66,189 (2,260) (3.4) 184,651 194,423 (9,772) (5.0)

Used vehicle 65,410 68,896 (3,486) (5.1) 195,749 206,632 (10,883) (5.3)

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New vehicle $ 52,067 $ 51,579 $ 488 0.9 $ 52,217 $ 51,815 $ 402 0.8

Used vehicle $ 28,674 $ 26,457 $ 2,217 8.4 $ 28,155 $ 26,406 $ 1,749 6.6

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and 552 more changes in the filing

Market risk 5 changes

1 unchanged paragraph

We had $4.1 $4.0 billion of variable rate vehicle floorplan payable at June September 30, 2026, and $3.8 billion at December 31, 2025. Based on these amounts, a 100 basis point change in interest rates would result in an approximate change to our annual floorplan interest expense of $40.6 $40.2 million at June September 30, 2026, and $38.3 million at December 31, 2025. Our exposure to changes in interest rates with respect to total vehicle floorplan payable is partially mitigated by manufacturers' floorplan assistance.

We had $635.0 $555.0 million of commercial paper notes outstanding at June September 30, 2026, and $200.0 million at December 31, 2025. Based on the amounts outstanding, a 100 basis point change in interest rates would result in an approximate change to our annual interest expense of $6.4 $5.6 million at June September 30, 2026, and $2.0 million at December 31, 2025.

Our fixed rate senior unsecured notes totaled $3.4 billion and had a fair value of $3.3 $3.2 billion as of June September 30, 2026, and totaled $3.4 billion and had a fair value of $3.4 billion as of December 31, 2025.

As of June September 30, 2026, all auto loans receivable outstanding were fixed-rate installment contracts. Financing for these receivables was achieved primarily through both variable- and fixed-rate non-recourse debt. Non-recourse debt includes warehouse facilities and asset-backed term securitizations. Borrowings under the warehouse facilities are variable-rate debt and are secured by the related auto loans receivable. Certain auto loans receivable were funded through term securitizations, which issued notes payable that accrue interest at fixed rates, and are also secured by the related auto loans receivable.

We are subject to equity price risk with respect to certain minority equity investments without a readily determinable fair value. These equity investments are measured using a measurement alternative as permitted by accounting standards and were initially recorded at cost, to be subsequently adjusted for observable price changes. During the period that we hold these investments, unrealized gains and losses may be recorded if we identify observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The carrying amount of our equity investments without a readily determinable fair value was $123.1 $123.3 million at June September 30, 2026, and $50.8 million at December 31, 2025. A hypothetical 10% observable price change for these equity investments would result in an approximate change to gain or loss of $12.3 million at June September 30, 2026, and $5.1 million at December 31, 2025. The selected 10% hypothetical change in equity prices is not intended to reflect a best or worst case scenario, as equity price changes could be smaller or larger due to the nature of equity markets.

Unregistered sales of stock 8 changes

The table below sets forth information with respect to shares of common stock repurchased by AutoNation, Inc. during the three months ended June September 30, 2026.

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April 1, 2026 - April 30, 2026 473,481 $ 201.60 473,481 $ 680.5

May 1, 2026 - May 31, 2026 245,744 $ 199.60 245,744 $ 631.5

June 1, 2026 - June 30, 2026 66,593 $ 188.29 66,593 $ 618.9

Total 785,818 785,818

July 1, 2026 - July 31, 2026 90,266 $ 201.22 90,266 $ 600.8

August 1, 2026 - August 31, 2026 255,279 $ 206.31 255,279 $ 548.1

September 1, 2026 - September 30, 2026 496,368 $ 185.49 496,368 $ 456.0 (1) Our Board of Directors from time to time authorizes the repurchase of shares of our common stock up to a certain monetary limit. The most recent authorization by the Board of Directors was announced on approved in October 28, 2025, 2026 for repurchases of up to an additional $1.0 billion resulting in an aggregate $1.3 $1.4 billion available under our stock repurchase limit at that time. During the fiscal quarter ended June September 30, 2026, all of the shares that we repurchased were repurchased under our stock repurchase program. Our stock repurchase program does not have an expiration date.

Other information 4 changes

As previously disclosed in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission, on May 22, 2015, AutoNation, Inc. (the "Company") established a commercial paper program (the "Program") pursuant to which it may issue short-term, unsecured commercial paper notes (the "Notes") in reliance on the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act").

On October 27, 2026, the Company increased the size of the Program so that it may have up to $2.0 billion of Notes outstanding at any one time under the Program. Prior to this increase, the Company could have up to $1.9 billion of Notes outstanding at any one time. The maturities of the Notes may vary, but may not exceed 397 days from the date of issuance. The Company intends to continue to use its revolving credit facility as a liquidity backstop for the Company's borrowings under the Program.

The Notes have not been and will not be registered under the Securities Act or state securities laws, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. The information contained herein is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities.

During the fiscal quarter ended June September 30, 2026, no director or officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" (in each case, as defined in Item 408 of Regulation S-K).

Exhibits 3 changes

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10.1 AutoNation, Inc. 2026 Employee Equity and Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed with the Commission on April 29, 2026).

10.1 Fifth Amended and Restated Credit Agreement, dated September 14, 2026, by and among the Company, JPMorgan Chase Bank, N.A. as Administrative Agent, and the other parties thereto (i nco rpo rated by reference to Exhibit 10.1 to the Company ' s Current Report on Form 8-K filed with the Commission on September 15, 2026) .

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Date: July 31, October 30, 2026 By: /s/ Kimberly R. Dees

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