secwatch.observer — SEC 8-K summary
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Issuer:     ASBURY AUTOMOTIVE GROUP INC (ABG)
CIK:        0001144980
Form:       8-K
Filed at:   2024-08-02T23:59:59+00:00
Accession:  0001144980-24-000127
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144980/000114498024000127/0001144980-24-000127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144980/000114498024000127/abg-20240802.htm
  HTML page:      https://secwatch.observer/filing/0001144980-24-000127

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