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Jun 30, 2020
Asbury Q2 2020 Earnings Report
Asbury Automotive Group reported record second quarter financial results.
Key Takeaways
Asbury Automotive Group reported a strong quarter with a record operating margin of 5.7% and a record low SG&A as a percentage of gross profit of 62.7%. Net income for the second quarter 2020 was $49.6 million ($2.57 per diluted share) and adjusted net income (a non-GAAP measure) of $48.7 million ($2.52 per diluted share).
New gross profit per vehicle up 33% to $1,924
Used retail gross profit per vehicle up 10% to $1,717
20% of used sales transacted online
SG&A as a percentage of gross profit decreased 530 basis points to 62.7%
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
Asbury entered into a definitive agreement to acquire Park Place Dealerships, which is expected to add approximately $1.7 billion in expected annualized revenues and transform their total portfolio to 49% luxury stores.
Revenue & Expenses
Visualization of income flow from segment revenue to net income