Yahoo Finance Asbury Automotive (ABG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Asbury Automotive Group (ABG) 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.
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Asbury Automotive Group, Inc. (ABG) : Free Stock Analysis Report
