Compared to Estimates, Asbury Automotive (ABG) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Asbury Automotive Group (ABG) reported revenue of $3.67 billion, down 5.2% over the same period last year. EPS came in at $8.12, compared to $9.23 in the year-ago quarter.
The reported revenue represents a surprise of -1.51% over the Zacks Consensus Estimate of $3.72 billion. With the consensus EPS estimate being $8.44, the EPS surprise was -3.79%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 36,846 versus 38,501 estimated by two analysts on average.
Unit sales - Used vehicle retail: 32,117 versus the two-analyst average estimate of 31,656.
Average selling price - New vehicle: $50.53 billion compared to the $49.30 billion average estimate based on two analysts.
Average Gross profit per unit - Used vehicle retail: $1.86 billion versus $1.98 billion estimated by two analysts on average.
Unit sales - New vehicle - same store: 36,846 compared to the 30,973 average estimate based on two analysts.
Unit sales - Used vehicle retail - same store: 32,104 versus the two-analyst average estimate of 26,756.
Revenues- New vehicle: $1.86 billion versus $1.90 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.5% change.
Revenues- Used vehicle: $1.11 billion compared to the $1.10 billion average estimate based on four analysts. The reported number represents a change of -16.5% year over year.
Revenues- Parts and service: $526.50 million versus $550.53 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.8% change.
Revenues- Finance and insurance net: $166.10 million compared to the $169.48 million average estimate based on four analysts. The reported number represents a change of -17% year over year.
Revenues- Used vehicle- Retail: $1.02 billion versus the three-analyst average estimate of $980.46 million. The reported number represents a year-over-year change of -18.6%.
Revenues- Used vehicle- Wholesale: $94.90 million versus the three-analyst average estimate of $85.57 million. The reported number represents a year-over-year change of +17.3%.
View all Key Company Metrics for Asbury Automotive here>>>
Shares of Asbury Automotive have returned -11% over the past month versus the Zacks S&P 500 composite's -2.3% 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
