AutoNation signs off on $250M share repurchase

FORT LAUDERDALE, Fla. - 

The AutoNation board of directors has approved the repurchase of up to an additional $250 million of AutoNation's common stock, the company announced in late August.

Succeeding the increased authorization, AutoNation has approximately $270 million total board authorization remaining for share repurchases as of Aug. 29.

Additionally, AutoNation said it has an estimated 95 million shares outstanding as of Aug. 28.

The automotive retailer reported a Q2 net income of $88 million, or $0.86 per share from continuing operations early August, compared to $112 million, or $1.08 per share Q2 2016.

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