DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Asbury Automotive Group Inc. (ABG) on Tuesday reported second-quarter net income of $152.8 million.
On a per-share basis, the Duluth, Georgia-based company said it had profit of $7.76. Earnings, adjusted for one-time gains and costs, were $7.43 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $6.82 per share.
The auto dealership chain posted revenue of $4.37 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $4.45 billion.
Asbury Automotive shares have dropped roughly 6% since the beginning of the year. The stock has declined nearly 10% in the last 12 months.
