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 Inc (NYSE: ABG) operates one of America's largest automotive retail networks, spanning new/used vehicle sales, collision repair, and integrated financial services. This page serves as the definitive source for official company announcements and market-moving developments.
Investors and industry observers will find curated updates including earnings reports, dealership acquisitions, leadership changes, and service expansions. Our news collection supports informed decision-making by consolidating ABG's operational updates and strategic initiatives in one location.
Key coverage areas include developments in luxury vehicle retail partnerships, collision center expansions, and innovations in automotive financing solutions like the Total Care Auto program. All content is sourced from verified corporate communications to ensure reliability.
Bookmark this page for convenient access to Asbury Automotive Group's latest business updates. Check regularly for new information about their growing network of regional dealerships and evolving service offerings across 15+ U.S. states.
Asbury Automotive Group, Inc. (NYSE: ABG) reported first-quarter 2023 financial results, revealing revenue of $3.6 billion, down 8% year-over-year. The company's gross profit decreased 12% to $696 million, leading to a net income of $181 million ($8.37 per diluted share), a 24% decline from the previous year. Adjusted net income also fell 15% year-over-year. Notable metrics include growth in parts and service revenue by 3%, with same-store parts and service revenue up 12%. The firm achieved record Clicklane sales exceeding 10,800 vehicles, marking a 28% increase from Q4 2022. Asbury repurchased approximately 110,000 shares for $21 million. Cash and liquidity stood at $1.7 billion as of March 31, 2023, with an adjusted net leverage ratio of 1.6x.
FAQ
What is the current stock price of Asbury Automotive Group (ABG)?
What is the market cap of Asbury Automotive Group (ABG)?
