Asbury Automotive Group, Inc. - ABG STOCK NEWS

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.

Asbury Automotive Group (NYSE: ABG) has appointed Hilliard C. Terry, III to its Board of Directors, effective February 22, 2022. Mr. Terry brings extensive experience in finance and corporate development, having previously served as CFO of Textainer Group Holdings and treasurer at Agilent Technologies. His appointment strengthens the Company’s leadership, with his insights expected to enhance Asbury’s strategic growth initiatives and digital transformations. The Board now comprises ten members, nine of whom are independent.

Asbury Automotive Group (NYSE: ABG) reported a strong fourth quarter with net income of $141 million ($6.44 per diluted share), a 40% increase year-over-year. Adjusted EPS rose 68% to $7.46. Revenue grew 19% to $2.7 billion, while gross profit surged 46%. The company successfully integrated several acquisitions, contributing to a robust operating margin of 8.9%. Full-year results showed a 38% rise in revenue and 55% growth in gross profit. Additionally, the share repurchase authorization was increased by $100 million, totaling $200 million.