Asbury (ABG) Stock Falls 1% Since Q1 Earnings & Sales Miss

Shares of Asbury Automotive (ABG) have inched down 1% since the company reported first-quarter 2024 results. Adjusted earnings of $7.21 per share decreased 13.8% year over year and missed the Zacks Consensus Estimate of $7.78 on lower-than-expected gross profit from new vehicle, parts and service, and finance and insurance businesses. In the reported quarter, revenues amounted to $4.2 billion, which increased 17% year over year but missed the Zacks Consensus Estimate of $4.26 billion.Segment DetailsIn the q ...