Asbury Posts Record Second-Quarter EPS Despite Revenue Headwinds
We are not changing our fair value estimate or moat rating after incorporating Asbury’s second-quarter results into our model. We continue to feel that current operating margins are closer to peak profitability than the midcycle levels that we model at the end of our five-year explicit forecast period. Asbury posted record second-quarter EPS of $1.65, up 9% year over year and matching consensus. Total revenue fell 4% from the prior year’s quarter to slightly miss consensus, while same-store reve...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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