Asbury Automotive Group Full Year 2023 Earnings: EPS Misses Expectations
Asbury Automotive Group (NYSE:ABG) Full Year 2023 Results
Key Financial Results
Revenue: US$14.8b (down 4.1% from FY 2022).
Net income: US$602.5m (down 40% from FY 2022).
Profit margin: 4.1% (down from 6.5% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: US$28.83 (down from US$44.72 in FY 2022).
ABG Sales Performance
Like-for-like sales growth: 7.0% vs FY 2022.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Asbury Automotive Group EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Specialty Retail industry in the US.
Performance of the American Specialty Retail industry.
The company's shares are down 2.2% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 3 warning signs for Asbury Automotive Group (1 shouldn't be ignored!) that you need to be mindful of.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
