Overview

* Asbury Automotive ( ABG ) Q3 revenue grows 13% yr/yr but misses analyst expectations

* Adjusted EPS for Q3 beats consensus, rising 13% to $7.17

* Company repurchased 220,500 shares for $50 mln in Q3

Outlook

* Company did not provide specific future financial guidance

Result Drivers

* NEW VEHICLE SALES - New vehicle revenue increased by 17%, contributing significantly to overall revenue growth

* PARTS AND SERVICE - Parts and service revenue grew by 11%, with a 15% increase in gross profit, supporting overall profitability

* TEKION AND CHAMBERS INTEGRATION - Expansion of Tekion and integration of Chambers group were strategic moves in growth strategy, per CEO David Hult

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $4.80 $4.84

Revenue bln bln (7

Analysts

)

Q3 Beat $7.17 $6.81 (8

Adjusted Analysts

EPS )

Q3 EPS $7.52

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the auto vehicles, parts & service retailers peer group is "buy."

* Wall Street's median 12-month price target for Asbury Automotive Group Inc ( ABG ) is $250.00, about 6.3% above its October 27 closing price of $234.33

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)