2023-04-25 07:14:49 ET
- Asbury Automotive press release ( NYSE: ABG ): Q1 Non-GAAP EPS of $8.37 beats by $0.38 .
- Revenue of $3.58B (-8.4% Y/Y) misses by $210M .
- Gross margin decreased 81 bps to 19.4%.
- New vehicle unit volume decreased 12%; new vehicle revenue decreased 5%; new vehicle gross profit decreased 20%.
- Used vehicle retail unit volume decreased 14%; used vehicle retail revenue decreased 16%; used vehicle retail gross profit decreased 26%.
- Finance and insurance (F&I) per vehicle retailed ( PVR ) decreased 6%.
- Parts and service revenue increased 3%; gross profit increased 2%.
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Asbury Automotive Non-GAAP EPS of $8.37 beats by $0.38, revenue of $3.58B misses by $210M