Asbury Automotive Group: Q4 Earnings Insights

Shares of Asbury Automotive Group (NYSE: ABG) rallied 5% after the company reported Q4 results.

Benzinga · 02/03/2020 17:08

Shares of Asbury Automotive Group (NYSE: ABG) rallied 5% after the company reported Q4 results.

Quarterly Results

  • Earnings per share increased 15% over the past year to $2.53, which beat the estimate of $2.34.
  • Revenue of $1,894,000,000 higher by 6.17% from the same period last year, which beat the estimate of $1,880,000,000.

Conference Call Details

Technicals

  • 52-week high: $123.44
  • 52-week low was at $65.54
  • Price action over last quarter: Up 9.97%

Company Description

Asbury Automotive Group is a regional collection of automobile dealerships that went public in March 2002. After it buys Park Place in early 2020, the company will operate about 98 stores with associated parts and service departments. About 85% of new-vehicle revenue will come from luxury and import brands. Asbury also offers third-party financing and insurance products. Asbury operates in 10 states (mostly Texas and the Southeast), and the company entered Colorado in 2019. Asbury generated $6.9 billion of revenue in 2018, and in 2020, the company expects this figure is to be about $9 billion when including Park Place.