AutoNation (AN) surprised itself. First it announced guidance on Mar 31 for the quarter ending Mar 31. Six days later it raises EPS by about three cents a share. The good news is business should be better. The bad news is management cannot tell things are better as they run the business on a day to day basis.
They say that new and used vehicle sales are still in line with original expectations. So it must be on the expense side or a special provision.
The six day differential includes the three day Easter weekend. Need to hear the whole story. Stock has jumped as profits are 10% better than expected. Concerned about management who surprised themselves.