We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Asbury Automotive (ABG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Read MoreHide Full Article
Asbury Automotive Group (ABG - Free Report) reported $4.2 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 17.3%. EPS of $7.21 for the same period compares to $8.37 a year ago.
The reported revenue represents a surprise of -1.56% over the Zacks Consensus Estimate of $4.27 billion. With the consensus EPS estimate being $7.78, the EPS surprise was -7.33%.
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.
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: 40,677 versus 42,824 estimated by two analysts on average.
Unit sales - Used vehicle retail: 39,489 versus the two-analyst average estimate of 38,988.
Average selling price - New vehicle: $50.75 billion versus $50.12 billion estimated by two analysts on average.
Average selling price - Used vehicle retail: $30.17 billion versus the two-analyst average estimate of $31.74 billion.
Average Gross profit per unit - Total new vehicle: $3.99 billion versus the two-analyst average estimate of $3.90 billion.
Average Gross profit per unit - Used vehicle retail - same store: $3.99 billion versus $1.64 billion estimated by two analysts on average.
Revenues- New vehicle: $2.06 billion versus $2.16 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +16.8% change.
Revenues- Used vehicle: $1.36 billion compared to the $1.30 billion average estimate based on three analysts. The reported number represents a change of +20.5% year over year.
Revenues- Parts and service: $590.40 million versus $633.43 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14.5% change.
Revenues- Finance and insurance net: $189.70 million compared to the $191.76 million average estimate based on three analysts. The reported number represents a change of +10% year over year.
Revenues- Used vehicle- Retail: $1.19 billion compared to the $1.15 billion average estimate based on two analysts. The reported number represents a change of +16.6% year over year.
Revenues- Used vehicle- Wholesale: $165.50 million versus $130.28 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +57.8% change.
Shares of Asbury Automotive have returned -5.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Asbury Automotive (ABG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Asbury Automotive Group (ABG - Free Report) reported $4.2 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 17.3%. EPS of $7.21 for the same period compares to $8.37 a year ago.
The reported revenue represents a surprise of -1.56% over the Zacks Consensus Estimate of $4.27 billion. With the consensus EPS estimate being $7.78, the EPS surprise was -7.33%.
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.
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: 40,677 versus 42,824 estimated by two analysts on average.
- Unit sales - Used vehicle retail: 39,489 versus the two-analyst average estimate of 38,988.
- Average selling price - New vehicle: $50.75 billion versus $50.12 billion estimated by two analysts on average.
- Average selling price - Used vehicle retail: $30.17 billion versus the two-analyst average estimate of $31.74 billion.
- Average Gross profit per unit - Total new vehicle: $3.99 billion versus the two-analyst average estimate of $3.90 billion.
- Average Gross profit per unit - Used vehicle retail - same store: $3.99 billion versus $1.64 billion estimated by two analysts on average.
- Revenues- New vehicle: $2.06 billion versus $2.16 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +16.8% change.
- Revenues- Used vehicle: $1.36 billion compared to the $1.30 billion average estimate based on three analysts. The reported number represents a change of +20.5% year over year.
- Revenues- Parts and service: $590.40 million versus $633.43 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14.5% change.
- Revenues- Finance and insurance net: $189.70 million compared to the $191.76 million average estimate based on three analysts. The reported number represents a change of +10% year over year.
- Revenues- Used vehicle- Retail: $1.19 billion compared to the $1.15 billion average estimate based on two analysts. The reported number represents a change of +16.6% year over year.
- Revenues- Used vehicle- Wholesale: $165.50 million versus $130.28 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +57.8% change.
View all Key Company Metrics for Asbury Automotive here>>>Shares of Asbury Automotive have returned -5.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.