Asbury (ABG) Q4 Earnings Miss Expectations, Decline Y/Y

Asbury Automotive Group (ABG) reported fourth-quarter 2023 adjusted earnings of $7.12 per share, which decreased 21.9% year over year and missed the Zacks Consensus Estimate of $7.74 on lower-than-expected sales from used-vehicle and parts and service segments.In the reported quarter, revenues amounted to $3.81 billion, which increased 3% year over year. The top line surpassed the Zacks Consensus Estimate of $3.77 billion.Segment DetailsIn the quarter, new-vehicle revenues rose 11% year over year to $2.06 b ...