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Mar 31, 2020
Asbury Q1 2020 Earnings Report
Asbury's financial performance was impacted by COVID-19 pandemic, but the team decisively acted to right-size the business.
Key Takeaways
Asbury Automotive Group reported a decrease in net income for Q1 2020 to $19.5 million ($1.01 per diluted share), and adjusted net income of $34.7 million ($1.80 per diluted share). The results were impacted by the COVID-19 pandemic in March, but the company took actions to reduce expenses and focus on omni-channel sales initiatives.
Total revenue decreased by 4% and gross profit decreased by 2%.
Adjusted EPS decreased by 18%.
Terminated agreement to acquire 20 Park Place luxury franchises.
Acquired a Chrysler Jeep Dodge Ram store in the Denver market in late January 2020, expected to generate approximately $124 million in annual revenues.
Asbury
Asbury
Asbury Revenue by Segment
Revenue by Segment
New Vehicle Revenue
CapyFin.comUsed Vehicle Revenue
CapyFin.comParts & Service Revenue
CapyFin.comF&I Net Revenue
CapyFin.com Forward Guidance
This press release contains forward-looking statements regarding Asbury's financial position, liquidity, results of operations, market position and dealership portfolio, and other initiatives and future business strategy. These statements are based on management's current expectations and beliefs and involve significant risks and uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income