Company Performance - Asbury Automotive Group reported quarterly earnings of $6.40 per share, missing the Zacks Consensus Estimate of $7.31 per share, and down from $8.95 per share a year ago, representing an earnings surprise of -12.45% [1] - The company posted revenues of $4.25 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.67%, compared to $3.74 billion in the same quarter last year [1] - Over the last four quarters, Asbury Automotive has not surpassed consensus EPS estimates and has topped consensus revenue estimates only once [1] Stock Performance - Asbury Automotive shares have increased by approximately 17.1% since the beginning of the year, outperforming the S&P 500's gain of 14.2% [2] - The current consensus EPS estimate for the upcoming quarter is $7.35 on revenues of $4.37 billion, and for the current fiscal year, it is $29.12 on revenues of $17.31 billion [4] Industry Outlook - The Automotive - Retail and Whole Sales industry is currently ranked in the bottom 14% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - The performance of Asbury Automotive's stock may be influenced by the overall outlook for the industry, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5]

Exhibit 99.1 Investors & Reporters May Contact: Joe Sorice Manager, Investor Relations (770) 418-8211 ir@asburyauto.com Asbury Automotive Group Reports Second Quarter Results • Record second quarter revenue of $4.2 billion • Record for second quarter parts & service revenue of $581 million and gross profit of $340 million • Repurchased approximately 193,000 shares for $43 million in the second quarter and approximately 592,000 shares for $130 million year-to-date through August 1, 2024 DULUTH, GA. (August 2 ...

Asbury Automotive Group (ABG) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the s ...

Core Viewpoint - Asbury Automotive Group has experienced mixed performance over the past year, with a 10% increase in stock price, and analysts are evaluating whether the current underperformance is justified or if there remains an opportunity for returns exceeding 15% [2] Financial Performance - In Q1, Asbury reported earnings of $7.21 per share on revenue of $4.2 billion, reflecting a 17% year-over-year revenue increase, driven by mergers and acquisitions [5] - Analysts project the company will earn $29.73 per share for the full year, surpassing the long-term estimate of $19 per share, leading to a fair value estimate of $260 [5] - Gross profit for the company was $750 million, an 8% increase, although gross margins declined by 158 basis points to 17.9% [6] Market Dynamics - Vehicle sales have historically not been the primary driver of the auto dealer business; maintenance and financing contribute significantly more to gross profit [7] - New vehicles accounted for 49% of revenue in Q1, generating $2.06 billion, but gross profit from new vehicles fell by 9% to $163 million due to margin contraction [7] - Used vehicles represented 32% of revenue at $1.36 billion, with gross profit declining by 7% to $72 million despite a 20% revenue increase [10] Inventory and Sales Trends - Asbury's new vehicle inventory has normalized to 54 days, up from 30 days a year ago, indicating a return to more typical market conditions [8] - Same-store new vehicle sales decreased by 1%, while revenue growth was primarily driven by M&A activities [7] - Maintenance services generated $590 million in revenue, accounting for 14% of total revenue and 45% of gross profit, with margins expanding to 56.6% [10] Cash Flow and Shareholder Returns - The company generated $209 million in operating cash flow and $183 million in free cash flow, with a share count reduction of 6% due to $50 million in share repurchases [10] - Asbury's leverage ratio stands at 2.6x, within its target range, and the company has a well-structured debt profile with no significant maturities until 2026 [11] Future Outlook - The company is expected to earn approximately $30 per share this year, trading at 8 times earnings, which is considered an attractive long-term valuation [13] - With ongoing growth in maintenance and stabilization in used car sales, Asbury is positioned for potential share price appreciation towards $300, based on projected earnings multiples [18]

Shares of Asbury Automotive (ABG) have inched down 1% since the company reported first-quarter 2024 results. Adjusted earnings of $7.21 per share decreased 13.8% year over year and missed the Zacks Consensus Estimate of $7.78 on lower-than-expected gross profit from new vehicle, parts and service, and finance and insurance businesses. In the reported quarter, revenues amounted to $4.2 billion, which increased 17% year over year but missed the Zacks Consensus Estimate of $4.26 billion.Segment DetailsIn the q ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☒ EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-31262 ASBURY AUTOMOTIVE GROUP, INC. (Exact name of Registrant as specified in its charter) Delaware 01-0609375 (State or ...

Asbury Automotive Group, Inc. (NYSE:ABG) Q1 2024 Earnings Conference Call April 25, 2024 10:00 AM ET Company Participants Chris Reeves - VP, Finance and Treasurer David Hult - President, CEO & Director Daniel Clara - SVP, Operations Michael Welch - SVP & CFO Conference Call Participants John Murphy - Bank of America Merrill Lynch Rajat Gupta - JPMorgan Chase & Co. Ryan Sigdahl - Craig-Hallum Capital Group Bret Jordan - Jefferies David Whiston - Morningstar Inc. Operator Greetings and welcome to the Asbury A ...

Asbury Automotive Group (ABG) reported $4.2 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 17.3%. EPS of $7.21 for the same period compares to $8.37 a year ago.The reported revenue represents a surprise of -1.56% over the Zacks Consensus Estimate of $4.27 billion. With the consensus EPS estimate being $7.78, the EPS surprise was -7.33%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wa ...

分组1 - Asbury Automotive Group reported quarterly earnings of $7.21 per share, missing the Zacks Consensus Estimate of $7.78 per share, and down from $8.37 per share a year ago, representing an earnings surprise of -7.33% [1] - The company posted revenues of $4.2 billion for the quarter, missing the Zacks Consensus Estimate by 1.56%, and an increase from $3.58 billion year-over-year [1] - Over the last four quarters, Asbury Automotive has surpassed consensus EPS estimates only once and has topped consensus revenue estimates two times [1] 分组2 - The stock has underperformed, losing about 1.5% since the beginning of the year compared to the S&P 500's gain of 6.3% [2] - The current consensus EPS estimate for the coming quarter is $8.23 on revenues of $4.47 billion, and for the current fiscal year, it is $31.46 on revenues of $17.58 billion [4] - The Zacks Industry Rank for Automotive - Retail and Whole Sales is currently in the bottom 4% of over 250 Zacks industries, indicating potential challenges for stock performance [5]

Financial Performance - First quarter 2024 net income was $147 million, a decrease of 19% from $181 million in the same quarter of 2023[1] - Revenue reached $4.2 billion, an increase of 17% compared to the first quarter of 2023[5] - Operating margin decreased to 6.3%, down 146 basis points from the previous year[5] - Gross profit for the quarter was $750.0 million, reflecting an 8% increase from $696.2 million[21] - Net income decreased by 19% to $147.1 million, down from $181.4 million in the previous year[21] - Basic earnings per share were $7.24, a decline of 14% from $8.42[21] - Adjusted EBITDA for Q1 2024 was $258.6 million, compared to $293.7 million in Q1 2023, reflecting a decrease of 12%[35] - Income from operations for Q1 2024 was $243.3 million, a decrease of 5% from $256.1 million in Q1 2023[33] Revenue Breakdown - New vehicle revenue reached $2,064.3 million, up 17% from $1,767.7 million year-over-year[21] - Total used vehicle revenue increased by 20% to $1,356.9 million, compared to $1,126.5 million in the prior year[21] - Parts and service revenue grew by 15% to $590.4 million, up from $515.6 million[21] - New vehicle revenue for Q1 2024 was $2,064.3 million, an increase of 16.8% from $1,767.7 million in Q1 2023[33] - Used vehicle revenue for Q1 2024 was $1,356.9 million, up 20.4% from $1,126.5 million in Q1 2023[33] - Parts and service revenue for Q1 2024 was $598.8 million, a 14.1% increase from $524.5 million in Q1 2023[33] Profitability Metrics - New vehicle gross profit decreased by 9% to $162.8 million, down from $178.9 million[27] - Total gross profit rose to $750.0 million, an 8% increase from $696.2 million in the prior year[27] - Total gross profit margin decreased to 17.9%, down from 19.4% year-over-year, reflecting a decline of 158 basis points[27] - Operating expenses increased by 16% to $468.6 million, compared to $403.0 million in the same period last year[27] - SG&A as a percentage of gross profit rose to 62.5%, up from 57.9% in the previous year[27] Cash and Liquidity - As of March 31, 2024, the company had total liquidity of $712 million[7] - Cash and cash equivalents decreased by 37% to $29.0 million from $45.7 million at the end of December 2023[23] - Cash provided by operating activities for Q1 2024 was $177.1 million, slightly up from $171.7 million in Q1 2023[36] - Adjusted cash flow provided by operating activities was $208.7 million in Q1 2024, down from $243.9 million in Q1 2023[36] Shareholder Actions - The company repurchased approximately 240,000 shares for $50 million during the quarter[1][8] Inventory and Liabilities - Inventory increased by 5% to $1,862.9 million compared to $1,768.3 million at the end of December 2023[23] - Total current liabilities decreased by 4% to $2,757.4 million from $2,875.7 million[23]