A B G | A s b u r y A u t o m o t i v e Investor Relations Presentation 2024 Third Quarter Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, objectives, beliefs, expectations and assumptions, projections regarding Asbury's financial position, liquidity, results of operations, ca ...

Core Insights - Asbury Automotive Group reported a revenue of $4.24 billion for Q3 2024, reflecting a year-over-year increase of 15.6% but falling short of the Zacks Consensus Estimate by 2.90% [1] - The earnings per share (EPS) for the quarter was $6.35, down from $8.12 in the same quarter last year, and also below the consensus estimate of $6.65 by 4.51% [1] Financial Performance Metrics - New vehicle unit sales were 42,607, below the average estimate of 44,380 [3] - Used vehicle retail unit sales totaled 37,347, compared to the average estimate of 40,884 [3] - The average selling price for new vehicles was $50.78 billion, exceeding the average estimate of $49.09 billion [3] - Same-store used vehicle retail unit sales were 29,668, below the average estimate of 33,716 [3] - Average gross profit per unit for total new vehicles was $3.53 billion, surpassing the average estimate of $3.24 billion [3] - Average gross profit per unit for used vehicle retail was $1.50 billion, slightly above the average estimate of $1.44 billion [3] Revenue Breakdown - Revenues from new vehicles were $2.16 billion, slightly below the average estimate of $2.21 billion, with a year-over-year change of +16.2% [3] - Revenues from used vehicles reached $1.29 billion, also below the average estimate of $1.32 billion, with a year-over-year change of +16.5% [3] - Parts and service revenues were $593.10 million, below the average estimate of $636.99 million, with a year-over-year change of +12.7% [3] - Finance and insurance net revenues were $185.40 million, compared to the average estimate of $196.39 million, reflecting a year-over-year change of +11.6% [3] - Retail revenues from used vehicles were $1.15 billion, slightly below the average estimate of $1.16 billion, with a year-over-year change of +13% [3] - Wholesale revenues from used vehicles were $146.20 million, below the average estimate of $148.85 million, with a significant year-over-year change of +54.1% [3] Stock Performance - Asbury Automotive shares have declined by 5.5% over the past month, contrasting with the S&P 500 composite's increase of 1.7% [4] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market in the near term [4]

Asbury Automotive Group (ABG) came out with quarterly earnings of $6.35 per share, missing the Zacks Consensus Estimate of $6.65 per share. This compares to earnings of $8.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.51%. A quarter ago, it was expected that this auto dealership chain would post earnings of $7.31 per share when it actually produced earnings of $6.40, delivering a surprise of -12.45%.Over the last four ...

Revenue Performance - Revenue for Q3 2024 was $4.2 billion, representing a growth of 16% compared to Q3 2023[1] - Total revenue for Q3 2024 reached $4,236.7 million, a 16% increase from $3,666.2 million in Q3 2023[28] - Total revenue for the three months ended September 30, 2024, was $4,210.5 million, an increase from $3,638.9 million in the same period of 2023, representing a growth of 15.7%[31] - The company’s total revenue for the twelve months ended September 30, 2024, was $12,684.1 million, an increase from $10,991.0 million in the previous twelve months, representing a growth of 15.4%[32] Profitability Metrics - Gross profit for Q3 2024 was $718 million, an increase of 7% year-over-year[4] - The company reported a total gross profit of $718.0 million, a 7% increase from $673.5 million in the same quarter last year[28] - Gross profit margin for total new vehicles decreased to 7.0%, down from 9.0% in Q3 2023, reflecting a decline of 209 basis points[28] - The adjusted EBITDA for the twelve months ended September 30, 2024, was $980.0 million, down from $1,029.5 million for the previous twelve months[33] Earnings and Income - Adjusted EPS for Q3 2024 was $6.35 per diluted share, down 25% from $8.12 per diluted share in Q3 2023[1] - Net income for Q3 2024 was $126.3 million, down 25% from $169.2 million in Q3 2023[23] - For the three months ended September 30, 2024, net income was $126.3 million, a decrease of 5.0% compared to the previous year[35] - For the nine months ended September 30, 2024, net income was $301.5 million, a decrease of 8.6% compared to the previous year[37] Operational Efficiency - Operating margin for Q3 2024 was 5.5%, with an adjusted operating margin of 5.6%[4] - Income from operations decreased by 12% to $232.7 million from $264.7 million in the prior year[23] - Income from operations for the three months ended September 30, 2024, was $232.7 million, down from $264.7 million in the same period last year[35] - SG&A as a percentage of gross profit increased to 64.5% from 57.9% year-over-year[29] Vehicle Sales and Revenue - New vehicle unit volume increased by 16%, with new vehicle revenue also up by 16%[4] - New vehicle revenue reached $2,163.5 million, up 16% from $1,861.9 million year-over-year[23] - Used vehicle revenue totaled $1,294.7 million, reflecting a 16% increase compared to $1,111.7 million in the same quarter last year[23] - Total used vehicle revenue increased by 16% to $1,294.7 million, compared to $1,111.7 million in the same quarter last year[28] Liquidity and Leverage - As of September 30, 2024, the company had total liquidity of $768 million[7] - The transaction adjusted net leverage ratio was 2.9x at the end of the quarter[7] - The adjusted long-term net debt as of September 30, 2024, was $2,870.6 million, compared to $2,851.2 million as of June 30, 2024[33] - The adjusted leverage ratio as of September 30, 2024, was 2.9, compared to 2.7 as of June 30, 2024[33] Shareholder Actions - The company repurchased approximately 394,000 shares for $89 million during Q3 2024[8] Inventory and Supply - Inventory, net, rose to $2,030.8 million, a 15% increase from $1,768.3 million at the end of 2023[24] - Days supply for new vehicle inventory increased to 63 days from 43 days at the end of 2023[25] Market Segmentation - Luxury vehicle sales accounted for 30% of total new vehicle revenue, slightly down from 31% in the previous year[26] - Domestic vehicle sales contributed 29% to total new vehicle revenue, up from 28% in the previous year[26] - Imports accounted for 41% of total new vehicle revenue, unchanged from the previous year[26] - The luxury brand Lexus maintained a 10% share of new vehicle revenue for both periods[26]

Core Insights - Asbury Automotive (ABG) shares have dropped 11.2% following the release of second-quarter 2024 results, with adjusted earnings per share at $6.40, a 28.5% decline year over year, missing the Zacks Consensus Estimate of $7.31 due to lower gross profit across all business segments [1] Revenue Performance - Total revenues for the quarter reached $4.25 billion, reflecting a 13% year-over-year increase but falling short of the Zacks Consensus Estimate of $4.36 billion [1] - New vehicle revenues increased by 11% year over year to $2.16 billion, yet missed the consensus estimate of $2.27 billion, attributed to lower units sold despite higher average selling prices [2] - Used vehicle retail revenues rose 15% year over year to $1.17 billion, surpassing the Zacks Consensus Estimate of $1.15 billion, although retail used vehicle units sold fell short of expectations [3] - Finance and insurance business net revenues amounted to $192.4 million, a 16% increase year over year, but missed the consensus estimate of $203 million [4] - Parts and service business revenues grew by 10% year over year to $580.9 million, yet also missed the Zacks Consensus Estimate of $629 million [4] Segment Performance - Retail units sold in the new vehicle segment totaled 42,679, up 12% year over year but below the consensus mark of 45,557 units [2] - Retail used vehicle units sold reached 38,534, a 22% increase year over year, but missed the consensus mark of 39,470 units [3] - Gross profit from new vehicles was $155.1 million, down 16% year over year, missing the consensus estimate of $167 million [2] - Gross profit from used vehicles fell to $56.4 million, down 14% year over year, missing the consensus estimate of $62 million [3] - Gross profit from finance and insurance was $174.7 million, a 6% year-over-year increase, but missed the consensus estimate of $177 million [4] - Parts and service gross profit was $339.9 million, up 16% year over year, but also missed the consensus estimate of $347 million [4] Financial Metrics - Selling, general & administrative expenses as a percentage of gross profit increased to 65.2%, up 792 basis points year over year [5] - Cash and cash equivalents stood at $67.2 million as of June 30, 2024, up from $45.7 million at the end of 2023, while long-term debt rose to $3.60 billion from $3.2 billion [5] - During the quarter, ABG repurchased 193,000 shares for $43 million, with $329 million remaining under its share repurchase authorization as of August 1, 2024 [5]

Revenue and Profit Growth - Consolidated revenue for the six months ended June 30, 2024, was $8.45 billion, up from $7.32 billion in the prior year, reflecting a growth of approximately 15.4%[108] - Consolidated gross profit for the six months ended June 30, 2024, was $1.48 billion, compared to $1.41 billion for the prior year, indicating an increase of about 4.9%[108] - The increase in revenue and gross profit is primarily attributed to the acquisition of the Jim Koons Dealerships, offset by the negative impact of the CDK outage and lower gross profit per vehicle sold[108] - Total revenue for the second quarter of 2024 increased by $503.7 million (13%) to $4,246.2 million compared to $3,742.5 million in the second quarter of 2023[114] - New vehicle revenue rose by $222.2 million (11%) to $2,164.9 million, while used vehicle revenue increased by $200.7 million (18%) to $1,308.0 million[114] - Gross profit for the second quarter of 2024 was $730.7 million, a $17.6 million (2%) increase from $713.1 million in the same period last year[114] - Total revenue for the six months ended June 30, 2024, increased by $1,122.6 million (15%) to $8,447.4 million compared to $7,324.8 million in 2023[144] - New vehicle revenue rose by $518.8 million (14%) to $4,229.1 million, while used vehicle revenue increased by $431.1 million (19%) to $2,664.9 million[144] Asset Impairments and Expenses - The company recorded asset impairments of $135.4 million related to franchise rights for certain underperforming stores during the three months ended June 30, 2024[110] - Income from operations decreased by $187.2 million (65%) to $100.5 million, primarily due to $135.4 million in asset impairments[115] - Total other expenses, net increased by $35.9 million (135%) primarily due to a $20.2 million rise in floor plan interest expense[115] - Selling, general, and administrative (SG&A) expenses increased by $133.6 million (16%) to $945.1 million compared to $811.6 million in the prior year[144] - Asset impairments recognized during the three months ended June 30, 2024, totaled $135.4 million, compared to no impairment charges in the same period of 2023[138] - Floor plan interest expense surged by $20.2 million to $21.0 million for the three months ended June 30, 2024, compared to $0.8 million in 2023[139] - Other interest expense increased by $5.8 million (15%) to $45.1 million, driven by a $6.3 million rise in credit facility interest expense[139] Vehicle Sales Performance - New vehicle units sold increased by 4,419 (12%) to 42,679 units compared to 38,260 units in the prior year[117] - The seasonally adjusted annual rate (SAAR) for new vehicle sales in the U.S. was approximately 15.6 million, reflecting an increase from 15.5 million in the same period last year[121] - Total new vehicle units sold increased by 10,590 (15%) to 83,356 units for the six months ended June 30, 2024[149] - Same store new vehicle revenue decreased by $125.7 million (3%) as a result of a 3% decrease in new vehicle units sold[151] Parts and Service Revenue - Parts and service revenue increased by $54.7 million (10%) to $580.9 million, driven by a $40.7 million (15%) increase in customer pay revenue and a $13.1 million (20%) increase in warranty revenue[130] - Total parts and service gross profit rose by $47.9 million (16%) to $339.9 million, with same store gross profit increasing by $10.5 million (4%) to $299.9 million[131] - Parts and service revenue increased by $129.5 million (12%) to $1,171.2 million for the six months ended June 30, 2024, driven by a $89.1 million (16%) increase in customer pay revenue[158] - Total parts and service gross profit rose by $99.9 million (17%) to $674.0 million, with same store gross profit increasing by $26.3 million (5%) to $594.7 million[160] Financial Performance and Net Income - Net income fell by $168.2 million (86%) to $28.1 million, with diluted net income per share decreasing to $1.39 from $9.34[115] - Net income for the six months ended June 30, 2024, decreased by $202.5 million (54%) to $175.2 million compared to $377.7 million in 2023[144] - The effective tax rate for the three months ended June 30, 2024, was 26.1%, up from 24.8% in the prior year, with an estimated effective tax rate of 25.0% for the year ended December 31, 2024[141] Share Repurchase and Capital Allocation - The company repurchased 432,389 shares for $93.2 million during the six months ended June 30, 2024, supporting its capital allocation priorities[108] - The company repurchased 432,389 shares of common stock for a total of $93.2 million during the six months ended June 30, 2024, compared to 1,070,126 shares for $220.3 million in 2023[191] Impact of CDK Outage - The CDK outage negatively impacted financial results due to fewer new and used vehicle sales and reduced parts and service volumes[105] - The CDK outage negatively impacted both new and used vehicle revenue and gross profit during the quarter ended June 30, 2024[120][126] - The CDK outage negatively impacted parts and service revenue and gross profit during the quarter[131] - The CDK outage negatively impacted financial results during the quarter ended June 30, 2024, affecting new and used vehicle sales and parts and service volumes[146] Liquidity and Cash Flow - Total available liquidity as of June 30, 2024, was $806.0 million, including cash and cash equivalents of $52.6 million[174] - Adjusted cash flow provided by operating activities was $402.0 million for the six months ended June 30, 2024, compared to $418.3 million in the same period of 2023[183] - Net cash provided by operating activities for the six months ended June 30, 2024, was $22.7 million, down from $221.7 million in 2023, with adjusted cash flow decreasing from $418.3 million to $402.0 million[184] - Net cash used in investing activities was $18.0 million for the six months ended June 30, 2024, compared to $62.5 million in 2023, with capital expenditures rising from $40.8 million to $65.4 million[187] Other Financial Metrics - The company has $1.85 billion of total variable interest rate debt outstanding, with a potential $18.5 million change in annual interest expense for a 100 basis point change in interest rates[200] - Non-trade floor plan borrowings increased from $3.72 billion in 2023 to $4.83 billion in 2024, while repayments rose from $3.72 billion to $5.08 billion[190]

Asbury Automotive Group (ABG) reported $4.25 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 13.5%. EPS of $6.40 for the same period compares to $8.95 a year ago.The reported revenue represents a surprise of -2.67% over the Zacks Consensus Estimate of $4.36 billion. With the consensus EPS estimate being $7.31, the EPS surprise was -12.45%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...

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 ...