Financial Data and Key Metrics Changes - The company reported $3.7 billion in revenue with a gross profit margin of 19.1% for Q2 2023, adjusted SG&A as a percentage of gross profit was 57%, leading to an adjusted operating margin of 7.8% [6][14] - Adjusted EBITDA was $307 million, and adjusted EPS was $8.95, reflecting strong financial performance [6][14] - Adjusted net income for Q2 2023 was $188 million, excluding certain gains and losses, which decreased diluted EPS by $0.40 [14][15] Business Line Data and Key Metrics Changes - New vehicle revenue grew 8% year-over-year, with an average gross profit per vehicle of $4,832 and a gross margin of 9.5% [8][9] - Used retail revenue and unit volume decreased by 15% compared to the prior year, with a gross profit per vehicle of $2,085 [8][9] - Parts and Service revenue increased by 6%, with customer pay revenue also growing by 6% [9][10] Market Data and Key Metrics Changes - The average age of cars in the market is 12.5 years, the highest ever, which supports growth in parts and service business [6][10] - Clicklane achieved a record of over 11,400 vehicles sold in Q2, a 74% increase year-over-year, generating $500 million in revenue [11][12] Company Strategy and Development Direction - The company aims to be the most guest-centric automotive retailer, focusing on profitability and capital deployment through share buybacks and acquisitions [5][6] - There is a strong emphasis on integrating over 50 acquired stores while maintaining operational efficiency [7][14] - The company is actively pursuing acquisitions that will be accretive, with a focus on portfolio management and brand mix [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future of automotive retail, citing the aging vehicle fleet and the transition to EVs as growth drivers [6][10] - The company anticipates mid- to high single-digit growth in parts and service due to pent-up demand and the increasing complexity of vehicles [33][34] Other Important Information - The company repurchased 960,000 shares for $190 million in Q2 2023, reflecting strong cash flow from operations [5][16] - The effective tax rate for Q2 2023 was 24.8%, consistent with the previous year [15] Q&A Session Summary Question: What drove the leverage in SG&A growth? - Management indicated that healthy margins helped keep SG&A in check, with opportunities for further expense reduction in the next 12 to 18 months [20] Question: Can you discuss GPU trends and any weak spots in profitability? - Management noted that domestic vehicle supply is returning to normal levels, and they expect to maintain gross profit per transaction [22] Question: What are the criteria for acquisition targets? - The company is focused on portfolio management and is in discussions for acquisitions that meet their criteria [25] Question: What is the expectation for EV service work and capital investment? - Significant training and infrastructure investment are required for EV service, and there is still pent-up demand for traditional service work [28][29] Question: How is the company managing floor plan interest expense? - The company is using excess cash to offset floor plan balances, effectively mitigating interest expenses [35] Question: What is the impact of EVs on GPU and inventory? - Management indicated that gross profits for EVs are comparable to internal combustion vehicles, with inventory management being crucial [40] Question: What caused the deceleration in parts and service growth? - The deceleration was primarily due to operational integration challenges from recent acquisitions, which are expected to improve over time [43]

SECOND QUARTER 2023 INVESTOR RELATIONS PRESENTATION ABG | Asbury Automotive This presentation 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, projections regarding Asbury's financial position, liquidity, results of operations, cash flows, leverage, market position, the timing and amount of any stock repurchase ...

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, 2023 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 other jurisdictio ...

Asbury Automotive Group, Inc. (NYSE:ABG) Q1 2023 Earnings Conference Call April 25, 2023 10:00 AM ET Company Participants Karen Reid - VP & Corporate Treasurer David Hult - President & CEO Dan Clara - SVP, Operations Michael Welch - SVP & CFO Conference Call Participants Daniel Imbro - Stephens, Inc. Adam Jonas - Morgan Stanley John Murphy - Bank of America Ryan Sigdahl - Graig-Hallum Capital Group Rajat Gupta - J.P. Morgan Glenn Chin - Seaport Research Partners Bret Jordan - Jefferies Operator Greetings, a ...

FIRST QUARTER 2023 INVESTOR RELATIONS PRESENTATION ABG | Asbury Automotive Forward Looking Statements This presentation 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, projections regarding Asbury's financial position, liquidity, results of operations, cash flows, leverage, market position and dealership portf ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 other juris ...

Asbury Automotive Group, Inc. (NYSE:ABG) Q4 2022 Results Conference Call February 2, 2023 10:00 AM ET Company Participants Karen Reid - Vice President and Corporate Treasurer David Hult - President and Chief Executive Officer Dan Clara - Senior Vice President of Operations Michael Welch - Senior Vice President and Chief Financial Officer Conference Call Participants Daniel Imbro - Stephens John Murphy - Bank of America Ryan Sigdahl - Graig-Hallum Capital Daniela Haigian - Morgan Stanley Rajat Gupta - JPMorg ...

Asbury Automotive Group, Inc. (NYSE:ABG) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET Company Participants Karen Reid - Vice President & Treasurer David Hult - President and Chief Executive Officer Daniel Clara - Senior Vice President of Operations Michael Welch - Senior Vice President, Chief Financial Officer Conference Call Participants Daniel Imbro - Stephens John Murphy - Bank of America Ryan Sigdahl - Graig-Hallum Capital Group Bret Jordan - Jefferies Rajat Gupta - JPMorgan David Whist ...

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 September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------| ...