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Asbury (ABG)
NYSE:ABG
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$5.98Last Year’s EPS
$7.12Same Quarter Last Year
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 8.95%
|Next Earnings Date:Feb 05, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted robust revenue growth and improvements in cost efficiency, particularly in SG&A and parts and service operations. However, significant challenges were noted due to stop sale orders, hurricane impacts, and declines in specific segments like Stellantis and collision business, indicating a balanced sentiment.Company Guidance
During the Asbury Automotive Group's Q3 2024 earnings call, the company provided detailed guidance amidst challenging circumstances, including impacts from Hurricanes Helene and Milton, and various industry-wide stop sale orders. Despite these hurdles, Asbury reported an adjusted earnings per share (EPS) of $6.35 with an estimated EPS of $6.74 to $6.78 excluding the hurricanes and stop sales. The company achieved a gross profit of $718 million on revenues of $4.2 billion, marking a 16% year-over-year revenue growth. Notably, Asbury's same-store adjusted selling, general, and administrative (SG&A) expenses as a percentage of gross profit improved to 63.8%, while its adjusted operating margin was 5.6%. The call highlighted the company's resilience in used vehicle profitability and moderated declines in new vehicle gross profits, particularly in light of challenges with Stellantis, which saw a 30% year-over-year decline in new volume and a 53% drop in gross profit per vehicle from Q3 2023. Additionally, Asbury's parts and service business continued its healthy growth trajectory, contributing positively to the overall results.Revenue and Profit Growth
Generated $4.2 billion in revenue, up 16% year-over-year, and a gross profit of $718 million, up 7%.
SG&A Improvement
SG&A as a percentage of gross profit improved quarter-over-quarter, indicating cost optimization efforts gaining traction.
Parts and Service Growth
Same-store parts and service gross profit increased by 4%, even with disruptions from hurricanes.
Successful Share Buyback
Repurchased nearly 400,000 shares for $89 million in the quarter, totaling approximately 830,000 shares year-to-date.
Clicklane Sales Performance
Retailed approximately 13,000 sales through Clicklane, a 13% increase over last year.
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ABG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ABG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $225.58 | $231.42 | +2.59% |
| Aug 02, 2024 | $263.43 | $235.35 | -10.66% |
| Apr 25, 2024 | $221.54 | $217.12 | -2.00% |
| Feb 08, 2024 | $210.74 | $206.79 | -1.87% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Asbury (ABG) report earnings?
Asbury (ABG) is schdueled to report earning on Feb 05, 2025, TBA Not Confirmed.
What is Asbury (ABG) earnings time?
Asbury (ABG) earnings time is at Feb 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ABG EPS forecast?
ABG EPS forecast for the fiscal quarter 2024 (Q4) is $5.98.
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