Asbury Q2 net income down 86% to $28M on CDK cyber disruption and $101M impairment

ASBURY AUTOMOTIVE GROUP INC

2024-Q2 EPS reported $8.64 revenue$8,447,400,000

GAAP EPS $1.39 vs $9.34 YoY; adjusted EPS $6.40 vs $8.95, down 31%.
Revenue record $4.2B (+13% YoY); parts & service revenue $581M (+10%) and gross profit $340M.
CDK cyber incident hurt EPS by $0.95-$1.15; non-cash asset impairments of $101.3M.
Repurchased 592k shares for $130M YTD; board authorized $400M buyback, $329M remaining.
Adjusted net leverage 2.7x; total liquidity $806M.

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