Latest News by Industry
DULUTH, Ga. (AP) _ Asbury Automotive Group Inc. (ABG) on Thursday reported fourth-quarter profit of $353.2 million.
The Duluth, Georgia-based company said it had net income of $15.95 per share. Earnings, adjusted for non-recurring gains, were $9.12 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $8.23 per share.
The auto dealership chain posted revenue of $3.71 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $3.82 billion.
For the year, the company reported profit of $997.3 million, or $44.61 per share. Revenue was reported as $15.43 billion.
Asbury Automotive shares have increased 29% since the beginning of the year. The stock has risen 38% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ABG">Zacks stock report on ABG at https://www.zacks.com/ap/ABG