DULUTH, Ga. (AP) – DULUTH, Ga. (AP) – Asbury Automotive Group Inc. (ABG) on Tuesday reported first-quarter profit of $181.4 million.
The Duluth, Georgia-based company said it had net income of $8.37 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.94 per share.
The auto dealership chain posted revenue of $3.58 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.7 billion.
Asbury Automotive shares have increased 15% since the beginning of the year. The stock has climbed 29% in the last 12 months.
