{"schema_version":"secwatch.filing_event.v1","accession":"0001144980-23-000122","form_type":"8-K","ticker":"ABG","cik":"0001144980","company_name":"ASBURY AUTOMOTIVE GROUP INC","filed_at":"2023-10-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.344836+00:00","generated_at":"2026-06-09T13:25:35.314600+00:00","sec_items":["1.01","2.02","2.03","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Asbury Q3 net income $169M (-17% YoY); announces $3B+ Koons acquisition; credit facility upsized to $2.8B","bullets":["Revenue $3.7B down 5% YoY; net income $169M ($8.19 diluted EPS) vs $205M ($9.23) in Q3 2022.","Adjusted EPS $8.12 vs $9.23; adjusted net income $168M down 18% YoY.","Definitive agreement to acquire Jim Koons Automotive Companies (over $3B annual revenue).","Credit facility renewed and upsized to $2.80B from $2.55B, extended maturity to Oct 2028.","Clicklane sold 11,661 vehicles (record); liquidity ~$1.7B; adjusted net leverage 1.7x."],"urls":{"canonical":"https://secwatch.observer/filing/0001144980-23-000122","json":"https://secwatch.observer/filing/0001144980-23-000122.json","markdown":"https://secwatch.observer/filing/0001144980-23-000122.md","text":"https://secwatch.observer/filing/0001144980-23-000122.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144980/000114498023000122/0001144980-23-000122-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144980/000114498023000122/abg-20231020.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T13:25:35.314600+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3b9c96f5792bf845d46672cf4dd62ac797126544","claim":"ASBURY AUTOMOTIVE GROUP INC incurred revolving credit with Bank of America, N.A., as administrative agent at Daily Simple SOFR plus 1.40% or the Base Rate plus 0.40% maturing October 20, 2028.","evidence_excerpt":"Applicable Rate means with respect to the Revolving Credit Facility, a range from 1.00% to 2.00% for Daily Simple SOFR loans and 0.15% to 1.00% for Base Rate loans, in each case based on the Company's consolidated total lease adjusted leverage ratio.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144980/000114498023000122/0001144980-23-000122-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Counterparty","value":"Bank of America, N.A., as administrative agent"},{"label":"Rate","value":"Daily Simple SOFR plus 1.40% or the Base Rate plus 0.40%"},{"label":"Maturity","value":"October 20, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"3b9c96f5792bf845d46672cf4dd62ac797126544","claim":"ASBURY AUTOMOTIVE GROUP INC incurred revolving credit with Bank of America, N.A., as administrative agent at Daily Simple SOFR plus 1.40% or the Base Rate plus 0.40% maturing October 20, 2028.","evidence_excerpt":"Borrowings under the Used Vehicle Floorplan Facility bear interest, at the option of the Company, based on Daily Simple SOFR plus 1.40% or the Base Rate plus 0.40%.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144980/000114498023000122/0001144980-23-000122-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Counterparty","value":"Bank of America, N.A., as administrative agent"},{"label":"Rate","value":"Daily Simple SOFR plus 1.40% or the Base Rate plus 0.40%"},{"label":"Maturity","value":"October 20, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"4ea4d2f8c7cfebad1873bf2fa46b14b20bf0192e","claim":"ASBURY AUTOMOTIVE GROUP INC incurred credit facility with Bank of America, N.A., as administrative agent at Daily Simple SOFR plus 1.10% maturing October 20, 2028.","evidence_excerpt":"The 2023 Senior Credit Facility provides for the following, in each case subject to limitations on availability as set forth therein: • a $500.0 million revolving credit facility (the “Revolving Credit Facility”); • a $1,925.0 million new vehicle revolving floorplan facility (the “New Vehicle Floorplan Facility”); and • a $375.0 million used vehicle revolving floorplan facility (the “Used Vehicle Floorplan Facility”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144980/000114498023000122/0001144980-23-000122-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A., as administrative agent"},{"label":"Rate","value":"Daily Simple SOFR plus 1.10%"},{"label":"Maturity","value":"October 20, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"4370661bc9b4f4144fd651b2ca56d478ae226ed1","claim":"ASBURY AUTOMOTIVE GROUP INC reported the three and nine months ended September 30, 2023 results: revenue $3.7 billion, net income $169 million, EPS $8.19 per diluted share.","evidence_excerpt":"Reporters May Contact: Joe Sorice Manager, Investor Relations (770) 418-8211 ir@asburyauto.com Asbury Automotive Group Reports Third Quarter 2023 Financial Results • Revenue of $3.7 billion • Gross profit of $674 million • SG&A as a percentage of gross profit of 58.2%; adjusted SG&A as a percentage of gross profit, a non-GAAP measure, of 58.4% • Operating margin of","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144980/000114498023000122/0001144980-23-000122-index.htm","confidence":0.97,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three and nine months ended September 30, 2023"},{"label":"Revenue","value":"$3.7 billion"},{"label":"Net income","value":"$169 million"},{"label":"EPS","value":"$8.19 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"1dabfea286ff2b3a331c86e81a1afe111a6b6189","claim":"ASBURY AUTOMOTIVE GROUP INC amended 2023 Senior Credit Facility with Bank of America, N.A. and the other lenders party thereto (effective 2023-10-20).","evidence_excerpt":"On October 20, 2023, Asbury Automotive Group Inc. (the “Company”) and certain of its subsidiaries entered into a fourth amended and restated credit agreement with Bank of America, N.A. (“Bank of America”), as administrative agent, and the other lenders party thereto (the “2023 Senior Credit Facility”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144980/000114498023000122/0001144980-23-000122-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A. and the other lenders party thereto"},{"label":"Effective","value":"2023-10-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}