Asbury Automotive Group (ABG) Tops Q1 EPS by 17c; New Vehicle Revs Up 9%
- Wall St slides as growth stocks rally wanes; Target slumps
- Target (TGT) Stock Collapses 24% on Disappointing Results, Analyst Downgrades to Hold
- Retail Stocks Crushed as Target (TGT) and Walmart (WMT) Reports Showed 'Dramatic' Margin Pressure; TJX (TJX) Up 10% on Stronger Margin Performance Than Peers
- Tesla (TSLA) Price Target Cut at Piper Sandler by 18% on China Lockdowns, Shares Still Seen as a 'Cornerstone Holding'
- Finland, Sweden apply to join NATO amid Turkish objections
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.
- 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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Endo International (ENDP) Begins Debt-restructuring Talks With Creditors - WSJ
- Membership Collective Group Inc (MCG) Misses Q1 EPS by 11c
- Progressive Corp. (PGR) Announces 25M Share Buyback, Declares $0.10 Dividend, Reports Q1 Results
Create E-mail Alert Related CategoriesEarnings, Retail Sales
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!