---
schema_version: "secwatch.filing_event.v1"
accession: "0001144980-24-000014"
form_type: "8-K"
ticker: "ABG"
cik: "0001144980"
company_name: "ASBURY AUTOMOTIVE GROUP INC"
filed_at: "2024-02-08T23:59:59+00:00"
generated_at: "2026-06-06T05:21:29.584948+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001144980-24-000014
- form_type: 8-K
- ticker: ABG
- cik: 0001144980
- company_name: ASBURY AUTOMOTIVE GROUP INC
- filed_at: 2024-02-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144980/000114498024000014/0001144980-24-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144980/000114498024000014/abg-20240208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144980-24-000014
- JSON: https://secwatch.observer/filing/0001144980-24-000014.json
- Plain text: https://secwatch.observer/filing/0001144980-24-000014.txt

## Key facts
- Earnings Releases
  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
  source text: & 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144980/000114498024000014/0001144980-24-000014-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144980/000114498024000014/0001144980-24-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.