Welcome to our dedicated page for Asbury Automotive Group news (Ticker: ABG), a resource for investors and traders seeking the latest updates and insights on Asbury Automotive Group stock.
Asbury Automotive Group reports developments as a U.S. automotive retail and service company operating automobile dealerships and collision centers across 14 states. Company news commonly covers new- and used-vehicle sales, parts and service, finance and insurance products, quarterly operating results, and digital retail initiatives such as Clicklane and the Tekion dealer management system.
Updates also track portfolio management through dealership acquisitions and divestitures, capital allocation through share repurchase authorizations and leverage metrics, and governance changes including executive and board transitions. Asbury’s releases frequently frame performance around store mix, luxury and import brands, Total Care Auto products, liquidity, and dealership support operations.
Asbury Automotive Group (NYSE: ABG) announced it will release its second quarter financial results before the market opens on July 28, 2020. The company will host a conference call on the same day at 10:00 a.m. Eastern Time to discuss the results. Investors can access the call via the company’s investor relations website or through a phone line. A replay of the call will be available for seven days afterward.
Asbury Automotive Group (NYSE: ABG) has announced a definitive agreement to acquire Park Place Dealerships for $685 million in goodwill and approximately $50 million for other assets. This strategic acquisition is expected to generate approximately $1.7 billion in annualized revenues and diversify Asbury's luxury market share from 36% to around 49%. The deal is projected to close in Q3 2020 and is expected to provide significant synergies and cash tax savings. Despite initial costs of about $0.20 per share in Q3 2020, the acquisition is anticipated to be accretive to earnings in 2021.