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Sep 30, 2024
Asbury Q3 2024 Earnings Report
Asbury's Q3 2024 earnings reflect a mix of growth and challenges, with revenue increasing but net income decreasing.
Key Takeaways
Asbury Automotive Group reported a 16% increase in revenue to $4.2 billion for Q3 2024. However, net income decreased by 25% to $126 million, or $6.37 per diluted share. The results were impacted by normalizing inventory levels, brand challenges, and Hurricane Helene.
Revenue increased by 16% to $4.2 billion.
Parts & Service gross profit grew by 16%.
EPS was $6.37 per diluted share, while adjusted EPS was $6.35 per diluted share.
Approximately 394,000 shares were repurchased for $89 million.
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 within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, objectives, beliefs, expectations and assumptions, projections regarding Asbury's financial position, liquidity, results of operations, cash flows, leverage, market position, the timing and amount of any stock repurchases, and dealership portfolio, revenue enhancement strategies, operational improvements, projections regarding the expected benefits of Clicklane, management’s plans, projections and objectives for future operations, scale and performance, integration plans and expected synergies from acquisitions, capital allocation strategy, business strategy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income