Here are three stocks added to the Zacks Rank #24 (Strong Sell) List today:Alerus Financial Corporation (ALRS) is the bank holding company for Alerus Financial, National Association. The Zacks Consensus Estimate for its current year earnings has been 20.5% downward over the last 60 days.Asbury Automotive Group, Inc. (ABG) is an automotive retailer. The Zacks Consensus Estimate for its current year earnings has been revised 5.4% downward over the last 60 days.Clean Harbors, Inc. (CLH) is a provider of enviro ...

Shares of Asbury Automotive Group (NYSE: ABG ) have been a moderate performer, gaining about 16% over the past year, given strong profits but declining margins. I last covered shares in May , rating shares a strong buy. SinceOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know!Analyst’s Di ...

Asbury Automotive (ABG) reported third-quarter 2024 adjusted earnings of $6.35 per share, which decreased 21.8% year over year and missed the Zacks Consensus Estimate of $6.65. In the reported quarter, revenues amounted to $4.24 billion, which increased 16% year over year but missed the Zacks Consensus Estimate of $4.36 billion.Stay up-to-date with the quarterly releases: See Zacks Earnings Calendar.Segment DetailsIn the quarter, new vehicle revenues rose 16% year over year to $2.16 billion, missing the Zac ...

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, 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 (Stat ...

Asbury Automotive Group, Inc. (NYSE:ABG) Q3 2024 Earnings Conference Call October 29, 2024 10:00 AM ET Company Participants Chris Reeves - Vice President, Finance & Treasurer David Hult - President & Chief Executive Officer Dan Clara - Senior Vice President, Operations Michael Welch - Senior Vice President & Chief Financial Officer Conference Call Participants John Murphy - Bank of America Rajat Gupta - JPMorgan Jeff Lick - Stephens Ryan Sigdahl - Craig-Hallum Capital Group Bret Jordan - Jefferies David Whi ...

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 ...

Exhibit 99.1 Investors & Reporters May Contact: Joe Sorice Manager, Investor Relations (770) 418-8211 ir@asburyauto.com Asbury Automotive Group Reports Third Quarter Results • Revenue of $4.2 billion, growth of 16% • Parts & Service gross profit growth of 16% • Same store SG&A as a percentage of gross profit of 64.5%; same store adjusted SG&A as a percentage of gross profit, a non-GAAP measure, of 63.8% • Sequential improvement in SG&A as a percentage of gross profit of 25 bps and adjusted SG&A as a percent ...

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]