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Jun 30, 2024
Asbury Q2 2024 Earnings Report
Asbury's Q2 2024 earnings were impacted by the CDK cyber incident, but partially mitigated by Clicklane sales. Revenue increased, but net income decreased significantly year-over-year.
Key Takeaways
Asbury Automotive Group reported a 13% increase in revenue to $4.2 billion for Q2 2024. However, net income decreased by 86% to $28 million, or $1.39 per diluted share, compared to $196 million, or $9.34 per diluted share, in Q2 2023. The results were impacted by the CDK cyber incident, which caused lost business and one-time expenses.
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.
Clicklane facilitated retail sales of 15,201 cars, an all-time record and 33% over last year.
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
Additional commentary regarding the second quarter results will be provided during the earnings conference call on Friday, August 2, 2024, at 10:00 a.m. ET.
Revenue & Expenses
Visualization of income flow from segment revenue to net income