Asbury Automotive: Q2 Earnings Snapshot
By AP News
Published - Aug 02, 2024, 08:00 AM ET
Last Updated - Aug 02, 2024, 08:01 AM EDT
DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Asbury Automotive Group Inc. (ABG) on Friday reported second-quarter profit of $28.1 million.
On a per-share basis, the Duluth, Georgia-based company said it had profit of $1.39. Earnings, adjusted for one-time gains and costs, came to $6.40 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.31 per share.
The auto dealership chain posted revenue of $4.25 billion in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $4.36 billion.
