Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S., has been named in Newsweek's World's Most Trustworthy Companies 2024 list. Asbury ranked number 27 in the Vehicles & Components Industry. Newsweek partnered with Statista, a global data and business intelligence platform, to conduct a survey considering all stock listed companies headquartered in a target country with a revenue of over 500 million USD. The companies were rated by more than 70,000 participants in the areas of Investor Trust, Customer Trust, and Employee Trust. "It is an honor to receive the title of one of the World's Most Trustworthy Companies," said David H

Shamla Naidoo's Extensive Background in Technology, Data, and Privacy Provides Asbury Automotive Group with Additional Cyber Security Insight Asbury Automotive Group, Inc. (NYSE:ABG) ("Asbury" or the "Company"), one of the largest automotive retail and service companies in the U.S., announced today the appointment of Shamla Naidoo to its Board of Directors effective January 1, 2025. The Board has appointed Ms. Naidoo to the Audit Committee and the Compensation & Human Resources Committee. Ms. Naidoo's election brings the total number of directors to ten, nine of whom are independent, including Ms. Naidoo. "We are thrilled to welcome Shamla to the Board. She is a tremendous addition and

Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S., is proud to announce Wendy Reynolds-Dobbs, VP and Chief DEI Officer, has been named a 2024 Automotive News Champion of Diversity. The 2024 class of Champions of Diversity was chosen by Automotive News editors and journalists from scores of nominees. Profiles of this fourth class of Champions of Diversity are available at https://www.autonews.com/awards/notable-champions-of-diversity/2024/. For the fourth year, the Champions of Diversity in Automotive program has recognized individuals who uphold and advocate for diversity, equity, and inclusion (DEI) in the automotive industry.

Revenue of $4.2 billion, growth of 16% Parts & Service gross profit growth of 16% Same store SG&A as a percentage of gross profit of 64.5%; same store adjusted SG&A as a percentage of gross profit, a non-GAAP measure, of 63.8% Sequential improvement in SG&A as a percentage of gross profit of 25 bps and adjusted SG&A as a percentage of gross profit, a non-GAAP measure, of 39 bps EPS of $6.37 per diluted share; adjusted EPS, a non-GAAP measure, of $6.35 per diluted share Estimated EPS impact of $0.39 - $0.43 due to stop sale orders for certain vehicle models (estimated lost sales of nearly 1,200 new units) and lost business from Hurricane Helene Repurchased approximately 394,000

Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its third quarter financial results before the market opens on Tuesday, October 29, 2024. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time. The conference call will be simulcast live on the internet and can be accessed by logging onto https://investors.asburyauto.com. A replay will be available on this site for 30 days. In addition, live audio will be accessible to the public. Participants may enter the conference call five to ten minutes prior to the scheduled start of the call by dialing: Domestic: (877) 407-29

Company Says the FTC's Administrative Process Is Unconstitutional, Depriving Its Right to a Jury Trial Asbury Automotive Group (NYSE:ABG) today announced the filing of a lawsuit on October 4, 2024 in the United States District Court for the Northern District of Texas challenging as unconstitutional an administrative proceeding filed against Asbury by the Federal Trade Commission ("FTC"). In August, Asbury rejected as false and unfounded an FTC complaint that three Asbury dealerships in the Dallas-Ft. Worth area sold protection products to customers that the customers did not agree to buy. The lawsuit Asbury filed in Texas seeks to enjoin the FTC's administrative proceeding in that case on

Judge Directs DMS Provider to Transfer Data to a Competitor for Asbury Pilot Program Asbury Automotive Group (NYSE:ABG) ("Asbury") one of the largest automotive retail and service companies in the United States, announced today the entry of a court order directing CDK Global LLC ("CDK") to provide data for four Asbury dealerships to Tekion Corp. ("Tekion") as part of a pilot program initiated by Asbury at the dealerships. The court's order followed the filing of a lawsuit by Asbury in the Superior Court of Gwinnett County, Georgia. Prior to the entry of the order, CDK had refused to transfer the dealerships' data to Tekion, which competes with CDK in providing Dealership Management System

Asbury Automotive Group (NYSE:ABG) today rejected false and unfounded allegations by the Federal Trade Commission (FTC) that three of its dealerships in the Dallas-Ft. Worth area sold protection products to customers that the customers did not agree to buy and that the dealerships discriminated against minorities in the sale of these products. After carefully reviewing the dealerships' records, Asbury said it will contest the FTC's lawsuit alleging violations related to the sale of what the FTC calls "add-on" products and will defend the dealerships' sales practices. The dealerships – David McDavid Ford of Ft. Worth and David McDavid Honda of Frisco and of Irving – conducted a thorough

Sale of leading domestic brand in high-growth market highlights ongoing buyer demand in the Southern region; transaction represents the 276th dealership sold by Kerrigan Advisors since inception and 70th franchise sold year-to-date Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Atlanta-based Asbury Automotive Group (NYSE:ABG) in the sale of Nalley Chevrolet in Union City, a suburb of Atlanta, Georgia, to ALM Automotive Group. This transaction represents Kerrigan Advisors' 276th dealership sold since inception and 70th franchise sold year-to-date. Asbury Automotive Group is one of the largest automotive retailers in the United

Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S, is proud to be recognized as one of America's Fastest-Growing Companies for 2024 by the Financial Times. With an Absolute Growth rate of 114% and a Compound Growth rate 28.88%, Asbury is ranked 327 out of 500 companies with the strongest revenue growth. The 500 companies selected have the highest growth in publicly disclosed revenues, specifically compound annual growth rate (CAGR), between 2019 and 2022 in North and South America. "I am proud of the significant, and thoughtful, growth of our company in the past few years," said David Hult, Asbury's President and Chief Execut

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CDK statement: 'We are ahead of the anticipated schedule, and as of this morning, substantially all dealer connections are live on the Dealer Management System.'https://www.autonews.com/retail/cdk-outage-reboot-substantially-all-dealer-connections-are-live

- Bloomberg

Asbury Automotive Group, Inc. (NYSE:ABG) ("we," "our" or the "Company"), one of the largest automotive retail and service companies in the U.S., learned on Wednesday, June 19, 2024, that one of its vendors (CDK Global) experienced a cyber-attack impacting certain services provided to the Company and many other automotive retailers, including the Company's sales, service, inventory, customer relationship management, and accounting functions. Upon discovery of the incident, we took immediate precautionary steps to protect our systems.While information surrounding this event continues to evolve, our stores have contingency plans in place to minimize disruptions to our daily operations. Accordin

JP Morgan analyst Rajat Gupta downgrades Asbury Automotive Gr (NYSE:ABG) from Overweight to Neutral and announces $230 price target.

The Company had $144 million of remaining availability to repurchase shares of common stock under its existing stock repurchase program and with the increase in authorization by $246 million, the Company now has a total authorization of $400 million.

JP Morgan analyst Rajat Gupta maintains Asbury Automotive Gr (NYSE:ABG) with a Overweight and lowers the price target from $235 to $230.

Shares of Asbury Automotive Group Inc (NYSE:ABG) are trading at $213.99 each; that’s down by more than 3.4% at last check Thursday. The Duluth, Georgia-based company reported first-quarter earnings per share of $7.21, missing the street view of $7.76 due to a tight inventory market and volume challenges.  Quarterly sales of $4.201 billion missed the street view of $4.264 billion. Revenue, however, increased 17% year over year. Gross profit increased 8% year-over-year to $750 million, while gross margin decreased 158 bps to 17.9%. “We delivered on our ongoing commitment to profitably grow same store preowned volume by retailing over 2,700 more units sequentially, even in a tight inve

Asbury Automotive Gr (NYSE:ABG) reported quarterly earnings of $7.21 per share which missed the analyst consensus estimate of $7.63 by 5.5 percent. This is a 13.86 percent decrease over earnings of $8.37 per share from the same period last year. The company reported quarterly sales of $4.201 billion which missed the analyst consensus estimate of $4.264 billion by 1.48 percent. This is a 17.28 percent increase over sales of $3.582 billion the same period last year.

Asbury Automotive  (NYSE:ABG) reported quarterly earnings of $7.21 per share which missed the analyst consensus estimate of $7.63 by 5.5 percent. 

Revenue of $4.2 billion, growth of 16% Parts & Service gross profit growth of 16% Same store SG&A as a percentage of gross profit of 64.5%; same store adjusted SG&A as a percentage of gross profit, a non-GAAP measure, of 63.8% Sequential improvement in SG&A as a percentage of gross profit of 25 bps and adjusted SG&A as a percentage of gross profit, a non-GAAP measure, of 39 bps EPS of $6.37 per diluted share; adjusted EPS, a non-GAAP measure, of $6.35 per diluted share Estimated EPS impact of $0.39 - $0.43 due to stop sale orders for certain vehicle models (estimated lost sales of nearly 1,200 new units) and lost business from Hurricane Helene Repurchased approximately 394,000

Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its third quarter financial results before the market opens on Tuesday, October 29, 2024. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time. The conference call will be simulcast live on the internet and can be accessed by logging onto https://investors.asburyauto.com. A replay will be available on this site for 30 days. In addition, live audio will be accessible to the public. Participants may enter the conference call five to ten minutes prior to the scheduled start of the call by dialing: Domestic: (877) 407-29

Record second quarter revenue of $4.2 billion Record for second quarter parts & service revenue of $581 million and gross profit of $340 million Repurchased approximately 193,000 shares for $43 million in the second quarter and approximately 592,000 shares for $130 million year-to-date through August 1, 2024 Asbury Automotive Group, Inc. (NYSE:ABG) (the "Company"), one of the largest automotive retail and service companies in the U.S., reported second quarter 2024 net income of $28 million ($1.39 per diluted share), a decrease of 86% from $196 million ($9.34 per diluted share) in second quarter 2023. Second quarter 2024 adjusted net income, a non-GAAP measure, decreased 31% year

Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its second quarter financial results before the market opens on Friday, August 2, 2024. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time. The conference call will be simulcast live on the internet and can be accessed by logging onto https://investors.asburyauto.com. A replay will be available on this site for 30 days. In addition, live audio will be accessible to the public. Participants may enter the conference call five to ten minutes prior to the scheduled start of the call by dialing: Domestic: (877) 40

Operating margin of 6.3% EPS of $7.21 per diluted share Parts and service revenue growth of 15%; parts and service gross profit growth of 18% Repurchased approximately 240,000 shares for $50 million Asbury Automotive Group, Inc. (NYSE:ABG) (the "Company"), one of the largest automotive retail and service companies in the U.S., reported first quarter 2024 net income of $147 million ($7.21 per diluted share), a decrease of 19% from $181 million ($8.37 per diluted share) in first quarter 2023. "We delivered a strong first quarter, crossing over $4 billion in revenue for the first time in our company's history," said David Hult, Asbury's President and Chief Executive Officer. "Ou

Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its first quarter financial results before the market opens on Thursday, April 25, 2024. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time. The conference call will be simulcast live on the internet and can be accessed by logging onto https://investors.asburyauto.com. A replay will be available on this site for 30 days. In addition, live audio will be accessible to the public. Participants may enter the conference call five to ten minutes prior to the scheduled start of the call by dialing: Domestic: (877) 4

Revenue of $3.8 billion Completed acquisition of Jim Koons Automotive Companies, the ninth-largest privately-owned dealership group in the U.S., with over $3 billion in annual revenue Gross profit of $673 million SG&A as a percentage of gross profit of 61.5%; adjusted SG&A as a percentage of gross profit, a non-GAAP measure, of 61.0% Fourth quarter non-cash asset impairments of $117.2 million or $4.29 per diluted share Operating margin of 3.3%; adjusted operating margin, a non-GAAP measure, of 6.4% Net income of $56 million; adjusted net income, a non-GAAP measure, of $146 million EPS of $2.70 per diluted share; adjusted EPS, a non-GAAP measure, of $7.12 per diluted sh

Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its fourth quarter financial results before the market opens on Thursday, February 8, 2024. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time. The conference call will be simulcast live on the internet and can be accessed by logging onto https://investors.asburyauto.com. A replay will be available on this site for 30 days. In addition, live audio will be accessible to the public. Participants may enter the conference call five to ten minutes prior to the scheduled start of the call by dialing: Domestic: (877

Largest auto retail acquisition since 2021 includes 29 franchises, six collision centers, 20 dealerships in Virginia, Maryland and Delaware and one of the U.S.' highest volume Toyota dealerships Asbury Automotive Group, Inc. (NYSE:ABG), one of the U.S.' largest automotive retail and service companies, has completed the acquisition of Jim Koons Automotive Companies, the ninth largest privately-owned dealership group in the U.S. The sale includes 20 dealerships, 29 franchises, six collision centers and one of the highest volume Toyota dealerships in the US. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231211020081/en/ "With th

Revenue of $3.7 billion Gross profit of $674 million SG&A as a percentage of gross profit of 58.2%; adjusted SG&A as a percentage of gross profit, a non-GAAP measure, of 58.4% Operating margin of 7.2%; adjusted operating margin, a non-GAAP measure, of 7.2% Net income of $169 million; adjusted net income, a non-GAAP measure, of $168 million EPS of $8.19 per diluted share; adjusted EPS, a non-GAAP measure, of $8.12 per diluted share Adjusted EBITDA, a non-GAAP measure, of $280 million Clicklane sales of over 11,600 vehicles, an all-time record Announced definitive agreement to acquire Jim Koons Automotive Companies, the ninth-largest privately-owned dealership group i