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Compared to Estimates, Asbury Automotive (ABG) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2023, Asbury Automotive Group (ABG - Free Report) reported revenue of $3.58 billion, down 8.4% over the same period last year. EPS came in at $8.37, compared to $9.27 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.7 billion, representing a surprise of -3.30%. The company delivered an EPS surprise of +5.42%, with the consensus EPS estimate being $7.94.
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:
Revenues- New vehicle: $1.77 billion versus the four-analyst average estimate of $1.73 billion. The reported number represents a year-over-year change of -4.7%.
Revenues- Used vehicle: $1.13 billion compared to the $1.24 billion average estimate based on four analysts. The reported number represents a change of -16.6% year over year.
Revenues- Parts and service: $515.60 million compared to the $525.67 million average estimate based on four analysts. The reported number represents a change of +2.7% year over year.
Revenues- Finance and insurance net: $172.50 million compared to the $172.99 million average estimate based on four analysts. The reported number represents a change of -15.2% year over year.
Revenues- Used vehicle retail: $1.02 billion compared to the $1.11 billion average estimate based on three analysts. The reported number represents a change of -16.1% year over year.
Revenues- Used vehicle wholesale: $104.90 million versus the three-analyst average estimate of $85.94 million. The reported number represents a year-over-year change of -21.7%.
Gross profit- New vehicle: $178.90 million versus $171.17 million estimated by four analysts on average.
Gross profit- Used vehicle: $77 million versus $68.10 million estimated by four analysts on average.
Gross profit- Parts and service: $282.10 million versus $298.58 million estimated by four analysts on average.
Gross profit- Finance and insurance, net: $158.20 million compared to the $167 million average estimate based on three analysts.
Gross profit- used vehicle retail: $70.60 million versus the three-analyst average estimate of $65.35 million.
Shares of Asbury Automotive have returned +4.2% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Asbury Automotive (ABG) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2023, Asbury Automotive Group (ABG - Free Report) reported revenue of $3.58 billion, down 8.4% over the same period last year. EPS came in at $8.37, compared to $9.27 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.7 billion, representing a surprise of -3.30%. The company delivered an EPS surprise of +5.42%, with the consensus EPS estimate being $7.94.
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:
- Revenues- New vehicle: $1.77 billion versus the four-analyst average estimate of $1.73 billion. The reported number represents a year-over-year change of -4.7%.
- Revenues- Used vehicle: $1.13 billion compared to the $1.24 billion average estimate based on four analysts. The reported number represents a change of -16.6% year over year.
- Revenues- Parts and service: $515.60 million compared to the $525.67 million average estimate based on four analysts. The reported number represents a change of +2.7% year over year.
- Revenues- Finance and insurance net: $172.50 million compared to the $172.99 million average estimate based on four analysts. The reported number represents a change of -15.2% year over year.
- Revenues- Used vehicle retail: $1.02 billion compared to the $1.11 billion average estimate based on three analysts. The reported number represents a change of -16.1% year over year.
- Revenues- Used vehicle wholesale: $104.90 million versus the three-analyst average estimate of $85.94 million. The reported number represents a year-over-year change of -21.7%.
- Gross profit- New vehicle: $178.90 million versus $171.17 million estimated by four analysts on average.
- Gross profit- Used vehicle: $77 million versus $68.10 million estimated by four analysts on average.
- Gross profit- Parts and service: $282.10 million versus $298.58 million estimated by four analysts on average.
- Gross profit- Finance and insurance, net: $158.20 million compared to the $167 million average estimate based on three analysts.
- Gross profit- used vehicle retail: $70.60 million versus the three-analyst average estimate of $65.35 million.
View all Key Company Metrics for Asbury Automotive here>>>Shares of Asbury Automotive have returned +4.2% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.