Asbury Automotive Group (ABG) Q2 Earnings and Revenues Lag Estimates

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]