Asbury Automotive: 2Q Earnings Snapshot
DULUTH, Ga. (AP) _ Asbury Automotive Group Inc. (ABG) on Friday reported second-quarter earnings of $54.9 million.
The Duluth, Georgia-based company said it had net income of $2.84 per share. Earnings, adjusted for non-recurring gains, were $2.38 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The auto dealership chain posted revenue of $1.8 billion in the period, which met Street forecasts.
Asbury Automotive shares have climbed 35% since the beginning of the year. The stock has climbed 31% in the last 12 months.