Asbury Finishes 2017, With Record 4Q Adjusted EPS Up 16% Year Over Year
Asbury closed 2017 with a good quarter, including record adjusted EPS of $1.81 easily beating consensus of $1.59. Same-store revenue was flat, but same-store new-vehicle revenue grew 2%. Total revenue was also flat and roughly in line with consensus. We are not changing our moat rating or fair value estimate, but we will update our model for the 10-K filing. We think Asbury is well-positioned for a good 2018 and that management’s plan for new-vehicle industry sales of 16.5 million-17 million is ...
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