Asbury Automotive Q4 net income drops 89% to $56M; adjusted EPS $7.12, down 28% YoY

ASBURY AUTOMOTIVE GROUP INC

2023-FY EPS reported $28.74 revenue$14,802,700,000

Revenue $3.8B (+3% YoY); gross profit $673M (-9%); net income $56M ($2.70 diluted EPS) down 89%.
Adjusted net income $146M ($7.12 diluted EPS) down 28% YoY; includes $117.2M non-cash asset impairments.
Completed acquisition of Jim Koons Automotive (9th largest private dealership group) in Dec 2023.
Same-store new vehicle unit volume +7%, but new vehicle gross profit -16%; F&I PVR $2,304 (-11%).
Repurchased 246k shares for $47M in Q4; FY23 repurchases 1.3M shares for $258M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ASBURY AUTOMOTIVE GROUP INC reported three months and year ended December 31, 2023 results: revenue $3.8 billion, net income $56 million, EPS $2.70 per diluted share.

Period: three months and year ended December 31, 2023
Revenue: $3.8 billion
Net income: $56 million
EPS: $2.70 per diluted share
Result: reported results

Exact text from the filing

& Reporters May Contact: Joe Sorice Manager, Investor Relations (770) 418-8211 ir@asburyauto.com Asbury Automotive Group Reports Fourth Quarter Financial Results • Revenue of $3.8 billion • Completed acquisition of Jim Koons Automotive Companies, the ninth-largest privately-owned dealership group in the U.S., with over $3 billion in annual revenue • Gross profit

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ASBURY AUTOMOTIVE GROUP INC reported full year 2023 results: net income $603 million, EPS $28.74 per diluted share.

Period: full year 2023
Net income: $603 million
EPS: $28.74 per diluted share
Result: reported results

Exact text from the filing

For the full year 2023, the Company reported net income of $603 million ($28.74 per diluted share) compared to $997 million ($44.61 per diluted share) in the prior year, a 36% decrease in EPS.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

ASBURY AUTOMOTIVE GROUP INC filing history →

Source: SEC EDGAR

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