secwatch.observer — SEC 8-K summary
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Issuer:     ASBURY AUTOMOTIVE GROUP INC (ABG)
CIK:        0001144980
Form:       8-K
Filed at:   2024-02-08T23:59:59+00:00
Accession:  0001144980-24-000014
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144980/000114498024000014/0001144980-24-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144980/000114498024000014/abg-20240208.htm
  HTML page:      https://secwatch.observer/filing/0001144980-24-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer