Asbury Automotive (ABG) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

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For the quarter ended September 2024, Asbury Automotive Group (ABG) reported revenue of $4.24 billion, up 15.6% over the same period last year. EPS came in at $6.35, compared to $8.12 in the year-ago quarter.

The reported revenue represents a surprise of -2.90% over the Zacks Consensus Estimate of $4.36 billion. With the consensus EPS estimate being $6.65, the EPS surprise was -4.51%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Asbury Automotive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Unit sales - New vehicle: 42,607 versus 44,380 estimated by two analysts on average.

  • Unit sales - Used vehicle retail: 37,347 compared to the 40,884 average estimate based on two analysts.

  • Average selling price - New vehicle: $50.78 billion versus the two-analyst average estimate of $49.09 billion.

  • Unit sales - Used vehicle retail - same store: 29,668 versus 33,716 estimated by two analysts on average.

  • Average Gross profit per unit - Total new vehicle: $3.53 billion versus $3.24 billion estimated by two analysts on average.

  • Average Gross profit per unit - Used vehicle retail: $1.50 billion versus $1.44 billion estimated by two analysts on average.

  • Revenues- New vehicle: $2.16 billion versus the four-analyst average estimate of $2.21 billion. The reported number represents a year-over-year change of +16.2%.

  • Revenues- Used vehicle: $1.29 billion versus the four-analyst average estimate of $1.32 billion. The reported number represents a year-over-year change of +16.5%.

  • Revenues- Parts and service: $593.10 million versus the four-analyst average estimate of $636.99 million. The reported number represents a year-over-year change of +12.7%.

  • Revenues- Finance and insurance net: $185.40 million compared to the $196.39 million average estimate based on four analysts. The reported number represents a change of +11.6% year over year.

  • Revenues- Used vehicle- Retail: $1.15 billion compared to the $1.16 billion average estimate based on three analysts. The reported number represents a change of +13% year over year.

  • Revenues- Used vehicle- Wholesale: $146.20 million compared to the $148.85 million average estimate based on three analysts. The reported number represents a change of +54.1% year over year.