Asbury (ABG) Stock Declines 11.2% Since Q2 Earnings Miss

Shares of Asbury Automotive (ABG) have plunged 11.2% since the company reported second-quarter 2024 results. Adjusted earnings of $6.40 per share decreased 28.5% year over year and missed the Zacks Consensus Estimate of $7.31 on lower-than-expected gross profit from all businesses. In the reported quarter, revenues amounted to $4.25 billion, which increased 13% year over year but missed the Zacks Consensus Estimate of $4.36 billion. Segment Details In the quarter, new vehicle revenues rose 11% year over yea ...