Asbury Automotive Gr Q2 Adj $6.40 Misses $7.33 Estimate, Sales $4.25B Miss $4.42B Estimate
Portfolio Pulse from Benzinga Newsdesk
Asbury Automotive Group (NYSE: ABG) reported Q2 earnings of $6.40 per share, missing the analyst estimate of $7.75 by 17.42%. Sales were $4.25 billion, also missing the $4.42 billion estimate. Earnings decreased by 28.49% year-over-year, while sales increased by 13.47%.
August 02, 2024 | 11:06 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Asbury Automotive Group reported Q2 earnings of $6.40 per share, missing the analyst estimate of $7.75 by 17.42%. Sales were $4.25 billion, also missing the $4.42 billion estimate. Earnings decreased by 28.49% year-over-year, while sales increased by 13.47%.
The significant miss on both earnings and sales estimates is likely to negatively impact ABG's stock price in the short term. The year-over-year decrease in earnings further adds to the negative sentiment, despite the increase in sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100