ABG Stock Recent News

DULUTH, Ga.--(BUSINESS WIRE)--Asbury Automotive Denies Unfounded FTC Allegations Vows a Vigorous Defense.

Asbury's (ABG) second-quarter earnings miss estimates due to lower-than-expected gross profit from all businesses.

Asbury Automotive Group is an auto retailer operating primarily in the Sun Belt and Mountain West of the United States. The company has significantly outperformed the Consumer Discretionary Select Sector SPDR Fund ETF in 2024. I expect this outperformance to continue thanks to an attractive earnings and free cash flow yield, coupled with a sector-wide benefit from lower Fed funds.

Asbury Automotive Group, Inc. (NYSE:ABG ) Q2 2024 Earnings Conference Call August 2, 2024 10:00 AM ET Company Participants Chris Reeves - VP, Finance & IR David Hult - President & CEO Dan Clara - SVP, Operations Michael Welch - SVP & CFO Conference Call Participants John Murphy - Bank of America Rajat Gupta - J.P. Morgan Ryan Sigdahl - Craig-Hallum Capital Group Operator Greetings, and welcome to the Asbury Automotive Group Second Quarter 2024 Earnings Conference Call.

Although the revenue and EPS for Asbury Automotive (ABG) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Asbury Automotive (ABG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

DULUTH, Ga.--(BUSINESS WIRE)--Asbury Automotive Group, Inc. (NYSE: ABG) (“we,” “our” or the “Company”), one of the largest automotive retail and service companies in the U.S., learned on Wednesday, June 19, 2024, that one of its vendors (CDK Global) experienced a cyber-attack impacting certain services provided to the Company and many other automotive retailers, including the Company's sales, service, inventory, customer relationship management, and accounting functions. Upon discovery of the i.

DULUTH, Ga.--(BUSINESS WIRE)--Asbury Automotive Group Board Increases Stock Repurchase Authorization to $400 Million.

Asbury Automotive Group's stock performance has been disappointing, up only 10% and flat since my recommendation. ABG's Q1 earnings showed a 17% increase in revenue, aided by M&A, and strong earnings are likely this year. While new car sales have contracted and margins have declined, the maintenance and financing units continue to generate steady cash flow and contribute disproportionately to gross profit.

U.S. mall giant Simon Property Group Simon Property Group has exited Authentic Brands Group (ABG), selling off its near 10% stake in the international brand management business for nearly $1.2 billion.