Asbury Automotive (ABG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Asbury Automotive Group (ABG) reported revenue of $3.74 billion, down 5.3% over the same period last year. EPS came in at $8.95, compared to $10.04 in the year-ago quarter.
The reported revenue represents a surprise of +0.05% over the Zacks Consensus Estimate of $3.74 billion. With the consensus EPS estimate being $8.15, the EPS surprise was +9.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Asbury Automotive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Unit sales - New vehicle: 38260 versus 35770.46 estimated by two analysts on average.
Used vehicle retail units: 31623 versus the two-analyst average estimate of 36127.52.
Unit sales - New vehicle - same store: 38180 versus the two-analyst average estimate of 28612.05.
Average selling Price - Used Vehicle retail: $32.04 billion compared to the $29.93 billion average estimate based on two analysts.
Average Gross profit per unit - Total new vehicle - same store: $4.83 billion compared to the $4.67 billion average estimate based on two analysts.
Average Gross profit per unit - Used vehicle retail - same store: $2.09 billion versus the two-analyst average estimate of $1.95 billion.
Revenues- New vehicle: $1.94 billion versus $1.85 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.2% change.
Revenues- Used vehicle: $1.11 billion compared to the $1.14 billion average estimate based on four analysts. The reported number represents a change of -18.7% year over year.
Revenues- Parts and service: $526.10 million compared to the $545.97 million average estimate based on four analysts. The reported number represents a change of +1.1% year over year.
Revenues- Finance and insurance net: $166.30 million compared to the $168.44 million average estimate based on four analysts. The reported number represents a change of -18.1% year over year.
Revenues- Used vehicle- Retail: $1.01 billion versus $1.05 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -20.4% change.
Revenues- Used vehicle- Wholesale: $94 million versus the three-analyst average estimate of $94.49 million. The reported number represents a year-over-year change of +4.8%.
View all Key Company Metrics for Asbury Automotive here>>>
Shares of Asbury Automotive have returned +1.7% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Asbury Automotive Group, Inc. (ABG) : Free Stock Analysis Report
