DULUTH, Ga. (AP) _ Asbury Automotive Group Inc. (ABG) on Tuesday reported fourth-quarter net income of $140.5 million.
On a per-share basis, the Duluth, Georgia-based company said it had net income of $6.44. Earnings, adjusted for non-recurring costs, came to $7.46 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $5.86 per share.
The auto dealership chain posted revenue of $2.65 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $2.43 billion.
For the year, the company reported profit of $532.4 million, or $26.49 per share. Revenue was reported as $9.84 billion.
Asbury Automotive shares have fallen nearly 7% since the beginning of the year. The stock has increased 2% in the last 12 months.
