Asbury Automotive Q3 revenue misses estimates

Overview

• U.S. auto retailer's Q3 revenue fell 8% yr/yr, missing analyst expectations

• Adjusted EPS for Q3 declined 21% yr/yr and missed analyst expectations

• Company completed Tekion technology rollout across all stores in October

Outlook

• Company says share repurchases will depend on market conditions and capital allocation priorities

• Asbury to focus on new vehicle share, used vehicle growth, and technology leverage

Result Drivers

• TEKION PLATFORM - Co said Tekion technology rollout led to efficiency gains in customer pay and parts/service gross profit

• USED VEHICLE SALES - Co reported sequential increase in used retail unit volume

• STORE CONVERSIONS - Co completed conversion of 47 stores to Tekion platform in Q3, finishing rollout in October

Company press release: ID:nBw8xjCXha

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the auto vehicles, parts & service retailers peer group is "buy."

• Wall Street's median 12-month price target for Asbury Automotive Group Inc is $218.00, about 26% above its October 26 closing price of $172.96

• The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Reuters Recommended Reads

• Oct 26 - Dorman Products Q3 sales slightly miss estimates on tariff pricing impact

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)