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), a leading U.S. automotive retail and service company, has announced the release date for its second quarter 2024 financial results. The results will be unveiled before the market opens on Friday, August 2, 2024. Following the release, Asbury will host a conference call at 10:00 a.m. Eastern Time on the same day.
Investors and interested parties can access the live simulcast of the conference call via Asbury's investor relations website. A replay will be available for 30 days. For those preferring audio access, dial-in details have been provided for both domestic and international participants.
Asbury Automotive Group has announced the appointment of Dean A. Calloway as Senior Vice President, General Counsel, and Secretary, effective July 1, 2024. Calloway has been with Asbury since 2013, occupying various legal roles and demonstrating expertise in commercial litigation, cybersecurity, corporate governance, and more. He succeeds George A. Villasana, the retiring SVP and Chief Legal Officer, who will stay on as a Special Advisor until March 2025. Asbury, a Fortune 500 company, is a large automotive retail and service company in the U.S., with 157 dealerships and a diverse range of automotive products and services.
Asbury Automotive Group (NYSE: ABG) reported a cyber incident affecting services provided by CDK Global, a vendor for many automotive retailers. The attack, identified on June 19, 2024, impacted Asbury's sales, service, inventory, CRM, and accounting functions. Immediate actions were taken to protect systems, and contingency plans are in place to mitigate operational disruptions. However, operations may be slower than usual. Koons Automotive locations and the Clicklane platform remain largely unaffected. The full scope and potential financial impact of the incident are currently unknown, and ongoing assessments are being conducted with CDK Global.
Asbury Automotive Group announced an increase in its share repurchase authorization to $400 million. This expansion reflects Asbury's commitment to a disciplined capital allocation approach. Year-to-date 2024, the company has repurchased about 281,000 shares for $59 million. The expanded program allows Asbury to repurchase shares in various manners, including open market and privately negotiated transactions. Factors influencing repurchase decisions include stock price, economic conditions, and strategic capital uses. Asbury operates 157 new vehicle dealerships, 37 collision repair centers, and offers a range of automotive products and services. The company is recognized on Forbes’ list of America's Best Mid-Sized Companies and by Newsweek and U.S. News & World Report as one of the best workplaces in the retail industry.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.