Asbury Automotive: 4Q Earnings Snapshot
DULUTH, Ga. (AP) _ Asbury Automotive Group Inc. (ABG) on Wednesday reported fourth-quarter profit of $40.4 million.
The Duluth, Georgia-based company said it had profit of $2.06 per share. Earnings, adjusted for one-time gains and costs, came to $2.20 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.
The auto dealership chain posted revenue of $1.78 billion in the period.
For the year, the company reported profit of $168 million, or $8.28 per share. Revenue was reported as $6.87 billion.
Asbury Automotive shares have risen roughly 9 percent since the beginning of the year. The stock has increased 10 percent in the last 12 months.