Asbury Automotive: Q2 Earnings Snapshot

Published 7:14 am Friday, August 2, 2024

DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Asbury Automotive Group Inc. (ABG) on Friday reported second-quarter profit of $28.1 million.

On a per-share basis, the Duluth, Georgia-based company said it had profit of $1.39. Earnings, adjusted for one-time gains and costs, came to $6.40 per share.

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The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.31 per share.

The auto dealership chain posted revenue of $4.25 billion in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $4.36 billion.

Asbury Automotive shares have increased 17% since the beginning of the year. The stock has risen 17% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABG at https://www.zacks.com/ap/ABG