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) reported strong financial results for Q4 2022, with a net income of $353 million ($15.95 per diluted share), a 151% increase year-over-year. For the full year, net income reached $997 million ($44.61 per diluted share), up 68%. Adjusted EBITDA for Q4 was $319 million (+29%) and $1.3 billion for the year (+61%). Revenue for Q4 was $3.7 billion (+40%), totaling $15.4 billion (+57%) for 2022. Clicklane sales exceeded 8,400 units in Q4. The company also repurchased 1.6 million shares and increased its repurchase authorization to $200 million. Asbury remains focused on strategic growth and operational efficiency.
Asbury Automotive Group (NYSE: ABG) has increased its common stock repurchase authorization by $108 million, bringing the total to $200 million. The company reported repurchasing approximately 1.6 million shares for $287 million in 2022 and around 115,000 shares for $20 million year-to-date in 2023. This strategy reflects Asbury's robust cash flow and strong balance sheet, emphasizing effective capital allocation. The implementation of the share repurchase program may vary based on market conditions and is subject to modification or termination at any time.
Asbury Automotive Group (NYSE: ABG) will release its fourth-quarter financial results on February 2, 2023, before the market opens. A conference call is scheduled for 10:00 a.m. ET, which will be available via the company’s investor relations website. Asbury operates 139 dealerships and aims for growth through its innovative Clicklane platform. The company has a strong presence in the U.S. automotive market, providing a vast range of automotive products and services across multiple brands.
Asbury Automotive Group, Inc. (NYSE: ABG) announced the appointment of Nathan Briesemeister as Vice President, Chief Accounting Officer & Controller, effective November 7, 2022. Briesemeister joins from Global Payments Inc., where he served as Senior Vice President and Corporate Controller. His experience is expected to significantly benefit Asbury as the company integrates its acquisitions and pursues its 2025 growth plan. Asbury, headquartered in Duluth, GA, operates 148 dealerships and various automotive-related businesses.
Asbury Automotive Group (NYSE: ABG) reported a record third quarter 2022 net income of $205 million, up 39% year-over-year, with adjusted net income also rising 43%. Revenue reached $3.9 billion, a 61% increase from the prior year. Adjusted EBITDA soared 54% to $329 million, and EPS climbed to $9.23, marking a 22% increase. Notably, fixed operations revenue surged 80%, while F&I revenue nearly doubled at 99%. However, the estimated impact of Hurricane Ian on earnings was about $4 million.
Asbury Automotive Group, Inc. (NYSE: ABG) will release its third quarter financial results before the market opens on October 27, 2022, followed by a conference call at 10:00 a.m. ET. The call will be accessible via an online stream and by phone for both domestic and international listeners. Asbury currently operates 148 dealerships and 198 franchises, focusing on strategic growth through an innovative digital vehicle purchasing platform called Clicklane. For further details, visit the investor relations website.
Asbury Automotive Group (NYSE: ABG) reported a robust second quarter with net income of $201 million, a 32% increase year-over-year. Adjusted net income rose 47% to $223 million, while revenue surged 53% to $4.0 billion. Record adjusted EBITDA amounted to $352 million, a 56% increase. The company showcased strong performance in its dealership operations, with significant growth in both new and used vehicle sales. However, same-store revenue declined 7%. As of June 30, 2022, liquidity stood at $1.0 billion.
Asbury Automotive Group, Inc. (NYSE: ABG) will release its second-quarter financial results on July 28, 2022, before market opening. A conference call will be held at 10:00 a.m. Eastern Time, accessible through their website and via phone. Asbury is a leading automotive retailer with 148 dealerships and a focus on growth through innovative digital platforms and acquisitions. The company offers a wide range of automotive services, including vehicle sales, parts, and financing.
Asbury Automotive Group (NYSE: ABG) reported robust Q1 2022 results with a record net income of $237.7 million, or $10.38 per diluted share, reflecting a 156% increase year-over-year. Adjusted EBITDA soared 139% to $336 million amid a revenue increase of 78% to $3.9 billion. The operating margin rose to 8.2%, while SG&A as a percentage of gross profit fell to 57.5%. The company also announced a new $200 million share repurchase authorization, aiming for $16 billion in revenue for 2022 and $32 billion by 2025, reflecting strong growth expectations.
Asbury Automotive Group, Inc. (NYSE: ABG) will release its first quarter financial results on April 28, 2022, before the market opens. A conference call will follow at 10:00 a.m. Eastern Time, accessible via the company's investor relations website and by phone. Asbury operates 148 dealerships in the U.S., focusing on organic growth and innovative services like Clicklane, a digital vehicle purchasing platform. The company aims to enhance revenue and profitability through strategic initiatives.