Asbury Automotive Group, Inc.NYSE
Tue, Oct. 25, 7:24 AM
- Asbury Automotive Group (NYSE:ABG) reports total revenues on same-store basis rose 1% in Q3.
- New vehicles revenue fell 2% to $940.9M.
- Used vehicles revenue squeezed 4% to $476.4M.
- Parts and service revenue expanded 5% to $200.4M.
- Finance and insurance, net revenue dropped 5% to $65.4M.
- Gross margin rate slipped 10 bps to 15.8%.
- Adjusted operating margin rate decreased 20 bps to 4.3%.
- Total new vehicle unit sales down 5% Y/Y to 26,815M.
- Total used vehicle retail units sales declined 6% to 20,030M.
Tue, Oct. 25, 7:03 AM
Mon, Oct. 24, 5:30 PM
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Mon, Oct. 10, 11:18 AM
- Manheim reports wholesale used vehicle prices were flat M/M and up 1.7% Y/Y in September to a reading of 126.9. The pickup and van segment showed the biggest gain across the different classes.
- "The continued strength in wholesale pricing is largely explained by current and past increases in new vehicle transaction prices – even after adjusted for mix shifts," notes Cox automotive economist Tom Webb.
- Used unit retail sales rose 4.7% YTD through the end of August.
- Related stocks: PAG, AN, CRMT, SAH, LAD, ABG, KMX, CPRT, RUSHA, RUSHB.
Tue, Jul. 26, 10:36 AM
- Asbury Automotive Group (ABG +0.1%) reports total revenues on same-store basis fell 1% in Q2.
- New vehicles revenue decreased 3% to $897M.
- Used vehicles revenue declined 7% to $470.2M.
- Parts and service revenue grew 4% to $195.3M.
- Gross margin rate rose 30 bps to 16.4%.
- Operating margin rate slipped 10 bps to 4.8%.
- Total new vehicle unit sales squeezed 6% Y/Y to 25,765M.
- Total used vehicle retail units sales fell 8% to 19,612M.
Tue, Jul. 26, 7:08 AM
Mon, Jul. 25, 5:30 PM
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Wed, Jun. 15, 1:57 PM
- A dive by MarketWatch into sales growth and share price performance pulls out three names that could be overlooked by investors.
- MarineMax (HZO +1.4%) is the only company on a list of the strongest Q1 same-store sales growth in the retail sector to show a negative YTD return.
- Two auto retailers, Lithia Motors (LAD +2%) and Asbury Automotive (ABG +2.2%), are also in negative territory this year, despite making a separate list of companies with the highest growth of sales per share over the last 12 months.
- YTD returns: HZO -11%, LAD -29%, ABG -19%.
Wed, May 25, 8:57 AM
- An analysis of data from LendingTree suggests that millennials want to drive and own cars.
- "The share of millennial auto loan requests has climbed from roughly 27 percent in early 2013 to about 34 percent in 2016, suggesting a return of younger buyers to the car market," concludes Lending Tree after diving into loan requests.
- On a volume basis, the most popular cars that millennials requested a loan for were the Nissan Altima, Dodge Charger, Honda Accord, Chevrolet Impala, and Chevrolet Tahoe. Millennials opted for used vehicles at a slightly higher clip than older drivers, 46% vs. 44%.
- The crush of major automaker-tech firm partnerships (Toyota-Uber, GM-Lyft, Fiat-Google, Volkswagen-Gett) popping up is predicated in part on a younger generation attuned to ride-sharing and ride-hailing. There's also been an assumption by some analysts of a topping out of U.S. auto demand this year or next due in part to millennial disinterest.
- Related automaker/auto retailer stocks: PAG, ABG, LAD, GPI, SAH, KMX, AN, RUSHA, OTCPK:DDAIF, TM, HMC, TSLA, TTM, OTCPK:VLKAY, GM, F, OTCPK:NSANY, OTCPK:BAMXY, OTCPK:FUJHF.
Tue, May 3, 10:17 AM
- The broad automobile-related sector is slumping after the Detroit Three all post U.S. sales reports below expectations for April.
- Hertz Global (HTZ -7.1%) and Avis Budget (CAR -5.6%) in particular are being hit hard with Avis due to report earnings after the bell and some read-through on daily rentals from GM influencing trading.
- Retailers AutoNation (AN -2.5%), Asbury Automotive (ABG -3.3%), CarMax (KMX -1.9%), Lithia Motors (LAD -1.6%), and Group 1 Automotive (GPI -3.7%) are also lower.
Tue, Apr. 26, 7:20 AM
- Asbury Automotive Group (NYSE:ABG) reports new vehicles revenue rose 1% to $838.4M in Q1.
- Used vehicles revenue fell 3% to $460.9M.
- Parts and service revenue +7% to $189.2M.
- Finance and insurance revenues increased 2% to $62.3M.
- Gross margin rate improved 20 bps to 16.8%.
- Operating margin rate dropped 30 bps to 4.4%.
- Total new vehicle unit sales declined 0.1% Y/Y to 24,029.
- Total used vehicle retail units sales decreased 4% to 19,736.
Tue, Apr. 26, 6:46 AM
- Asbury Automotive (NYSE:ABG): Q1 EPS of $1.36 beats by $0.03.
- Revenue of $1.55B (+0.6% Y/Y) misses by $70M.
Mon, Apr. 25, 5:30 PM
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Wed, Mar. 16, 10:23 AM
- The percentage of BMW (OTCPK:BAMXY) vehicles either leased or financed went to 46.3% in 2015 from a level of 41.8% just a year prior, observes Bloomberg Gadfly. A massive jump for a short time period.
- Though the company isn't suffering from some of the delinquency issues that are picking up in the automobile industry (see subprime concerns for lenders, auto retailers, and Detroit majors), there could be implications down the road as a glut of vehicles come off their leases.
- Across the industry, vehicle leasing as a percentage of sales rose to 32.3% in February vs. the average of 28% in 2015. That's a development that could add to pricing pressure down the road for high-end and mass market brands as a higher percentage of vehicles come off their leases.
- Related stocks: PAG, ABG, LAD, GPI, SAH, KMX, AN, RUSHA, OTCPK:DDAIF, TM, HMC, TSLA, TTM, OTCPK:VLKAY, GM, F.
Tue, Mar. 15, 10:53 AM
- There's sharp losses in the auto dealer sector today. The negative stance from investors could be a reaction to increasing concerns on subprime auto loans.
- Decliners: Penske Automotive (PAG -4.4%), Sonic Automotive (SAH -4%), Asbury Automotive (ABG -2.8%), CarMax (KMX -3.3%), Lithia Motors (LAD -3.6%), AutoNation (AN -3.7%), Group 1 Automotive (GPI -2.3%), Rush Enterprises (RUSHA -1.9%).
- Previously: Shades of subprime flash warning for auto sales (Mar. 14 2016)
- Previously: Subprime auto worry hits lenders (Mar. 15 2016)
Wed, Feb. 24, 1:38 PM
- Lithia Motors (LAD +6.6%) powers higher after posting strong Q4 results and issuing a positive outlook on demand for the full year.
- The strong report is helping to lift sentiment on peers Group 1 Automotive (GPI +3.7%), Asbury Automotive (ABG +3.3%), AutoNation (AN +1.3%), and Sonic Automotive (SAH +1.8%) as well.
- Previously: Lithia Motors beats by $0.10, misses on revenue (Feb. 24)
- Previously: More on Lithia Motors' Q4 (Feb. 24)