AutoNation Inc ( AN ). said Friday its board authorized an additional $1 billion repurchase of the company’s common stock, extending its ongoing capital return program.

Following the new approval, AutoNation ( AN ) has about $1.28 billion remaining under its board-approved repurchase authorizations as of October 30.

The company has already repurchased 3 million shares this year for a total of $576 million, at an average price of $189 per share. As of October 30, AutoNation ( AN ) had roughly 36 million shares outstanding, down 8% from the end of 2024.

Also Read: AutoNation Expands Financing Program, Strengthening Its Cash Flow

Mike Manley, Chief Executive Officer of AutoNation ( AN ), stated, “Our strong performance and consistent cash flow generation continue to support strategic investments in growth and shareholder returns.”

“This additional $1 billion share repurchase authorization reflects our continued confidence in AutoNation’s performance and long-term strategy,” he added.

Third-Quarter Financial Results

Last week, AutoNation ( AN ) reported its third-quarter adjusted earnings per share of $5.01 (plus 25% year over year), beating the analyst consensus estimate of $4.82.

Quarterly sales of $7.037 billion, outpacing the Street view of $6.86 billion. Revenues were up 7% driven by increases across all major categories.

Recent Acquisitions Expand Geographic and Brand Footprint

In September, AutoNation ( AN ) acquired an Audi store and a Mercedes-Benz store in Chicago, following earlier purchases of a Mazda and a Ford store in Denver.

Together, these deals exceed $500 million in annual revenue, broaden the brand mix, and deepen the company’s presence in Illinois and Colorado.

Price Action: AN shares were trading higher by 1.85% to $199.35 at last check Friday.

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