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Asbury Automotive Group Q2 Earnings and Revenues Lag Estimates

Asbury Automotive Group (NYSE: ABG) came out with quarterly earnings of $6.40 per share, missing the Zacks Consensus Estimate of $7.31 per share. This compares to earnings of $8.95 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -12.45%. A quarter ago, it was expected that this auto dealership chain would post earnings of $7.78 per share when it actually produced earnings of $7.21, delivering a surprise of -7.33%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Asbury Automotive, which belongs to the Zacks Automotive - Retail and Whole Sales industry, posted revenues of $4.25 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 2.67%. This compares to year-ago revenues of $3.74 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on ...