AutoNation chief Mike Jackson said Friday the company missed estimates on first-quarter earnings because of "epic, biblical hail storms" last month in Texas.
The nation's largest dealer chain on Friday reported adjusted profit of 90 cents per share, 3 cents short of Wall Street expectations.
Jackson told CNBC's "Squawk Box" that severe damage to vehicles cost 3 cents per share during the quarter.
"We've never called out a hail storm before," he said. "We're fully at our [insurance] deductible. We're beyond that. ... It's a limited number of vehicles but they were just pounded."