Asbury Automotive Group, Inc. (NYSE:ABG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Asbury Automotive Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 42.03% to $0.98 in the quarter versus EPS of $0.69 in the year-earlier quarter.
Revenue: Rose 12.85% to $1.34 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Asbury Automotive Group, Inc. reported adjusted EPS income of $0.98 per share. By that measure, the company beat the mean analyst estimate of $0.81. It beat the average revenue estimate of $1.29 billion.
Quoting Management: “Asbury is pleased to once again announce record quarterly results,” said Craig Monaghan, Asbury’s President and Chief Executive Officer. “As the automotive market continues to recover, our associates are demonstrating continued success in maximizing sales and service opportunities while maintaining disciplined expense control.”
Key Stats (on next page)…
Revenue increased 9.68% from $1.23 billion in the previous quarter. EPS increased 27.27% from $0.77 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.78 to a profit $0.8. For the current year, the average estimate has moved up from a profit of $3.03 to a profit of $3.14 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)