Asbury Automotive: Attractive Valuation Looking Past Near-Term Noise [Seeking Alpha]
Asbury Automotive Group Inc (ABG)
Last asbury automotive group inc earnings: 2/3 07:00 am
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US:NYSE Investor Relations:
asburyauto.com/company/investor-relations
Company Research
Source: Seeking Alpha
Play 9min Summary Asbury Automotive delivered a mixed Q3 given headwinds from Hurricane Helene, and Q4 will likely be equally messy. Vehicle gross margins continue to normalize, but its parts and services business continues to be the critical driver of growth. While profits are declining from their peak, underlying earnings power of $21 creates long-term opportunity for investors. Luis Alvarez Shares of Asbury Automotive Group ( NYSE: ABG ) have been a moderate performer, gaining about 16% over the past year, given strong profits but declining margins. I last covered shares in May , rating shares a strong buy. Since then, performance has been disappointing with the stock declining by 7% as concerns persist about a slowdown in auto demand with interest rates remaining persistently elevated. While there is near-term noise, I remain bullish. Seeking Alpha In the company's third quarter Asbury earned $6.35 on revenue of $4.2 billion, which was up 16% from last year than
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ABG
Earnings
- 10/29/24 - Miss
ABG
Sec Filings
- 12/2/24 - Form 4
- 11/27/24 - Form 144
- 11/19/24 - Form 8-K
- ABG's page on the SEC website