EPS of 50c missed estimates of 56c; revenue of $780M missed estimates of $789M. EBITDA of $93.8M beat estimates by 1%. Same store sales were again negative (-2.1%) but there is improvement occurring here. Q3 same store sales are trending higher and analysts note the 'positive tone' from management. Increasing car prices and lower insurance costs are other positives here. After more than a year of negativity, the stock was due for a bounce, and did, but then some degree of reality set in. The results are showing improvement, though, but BYD is not completely out of the woods yet. Still, historically the company has been a solid performer, and is getting its act together again.
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