Asbury Keeps Operating at a High Level
Asbury Automotive Group finished 2018 with a strong quarter. We are not changing our fair value estimate but will revisit our valuation assumptions when we roll the model for the 10-K filing, which is not out yet. Fourth-quarter adjusted EPS grew 22% year over year to a fourth-quarter record $2.20 to help full-year adjusted EPS rise 31% to a record $8.41. These results are impressive given a roughly flat new vehicle sales year in the U.S. for 2018. Asbury's management continues to be one of the ...Asbury Automotive Group is a holding company. Through its subsidiaries, the company is an automotive retailer. The company's stores provide automotive products and services, including new and used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts and collision repair services; and finance and insurance products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, prepaid maintenance, and credit life and disability insurance. The company's new vehicle franchise retail network is made up of dealerships operating under locally-branded dealership groups.
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