secwatch.observer — SEC 8-K summary
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Issuer:     ASBURY AUTOMOTIVE GROUP INC (ABG)
CIK:        0001144980
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0001144980-24-000145
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Asbury Q3 net income falls 25% to $126M; revenue up 16% to $4.2B
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- Net income $126M ($6.37 diluted EPS) vs $169M ($8.19) YoY; adjusted EPS $6.35 vs $8.12.
- Revenue $4.2B (+16% YoY); Parts & Service gross profit +16%; same-store revenue -2%.
- Repurchased ~394k shares for $89M in Q3; YTD ~830k for $183M; $276M remaining authorization.
- Estimated EPS impact $0.39-$0.43 from stop-sale orders (~1,200 lost new units) and Hurricane Helene.
- SG&A as % of gross profit 65.0%; adjusted 64.4%; sequential improvement of 25 bps.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144980/000114498024000145/0001144980-24-000145-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144980/000114498024000145/abg-20241029.htm
  HTML page:      https://secwatch.observer/filing/0001144980-24-000145

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