Asbury Automotive Group (ABG) Tops Q1 EPS by 17c; New Vehicle Revs Up 9%

Asbury Automotive Group (NYSE: ABG) reported Q1 EPS of $1.03, $0.17 better than the analyst estimate of $0.86. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.31 billion.

Qtr Highlights:

• New vehicle retail revenues up 9%; gross profit up 12%
• Used vehicle retail revenues up 14%; gross profit up 9%
• Finance and insurance revenues up 14%
• Parts and service gross profit up 11%
• Total gross profit up 12% with increases from all business lines
• SG&A expense as a percent of gross profit improved 220 basis points to 69.4%
• Repurchased $9.4 million of common stock

For earnings history and earnings-related data on Asbury Automotive Group (ABG) click here.

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