Articles from Asbury Automotive Group, Inc.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported fourth quarter 2024 net income of $129 million ($6.54 per diluted share), an increase of 132% from $56 million ($2.70 per diluted share) in fourth quarter 2023. The Company reported fourth quarter 2024 adjusted net income, a non-GAAP measure, of $143 million ($7.26 per diluted share), a decrease of 2% from $146 million ($7.12 per diluted share) in fourth quarter 2023.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its fourth quarter financial results before the market opens on Thursday, January 30, 2025. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Park Place Dealerships, a part of Asbury Automotive Group, Inc. (NYSEABG), successfully completed the purchase of 15 acres of land in Dallas, Texas, from Raytheon on December 4, 2024.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., has been named in Newsweek’s World’s Most Trustworthy Companies 2024 list. Asbury ranked number 27 in the Vehicles & Components Industry.

Asbury Automotive Group, Inc. (NYSEABG) (“Asbury” or the “Company”), one of the largest automotive retail and service companies in the U.S., announced today the appointment of Shamla Naidoo to its Board of Directors effective January 1, 2025. The Board has appointed Ms. Naidoo to the Audit Committee and the Compensation & Human Resources Committee. Ms. Naidoo’s election brings the total number of directors to ten, nine of whom are independent, including Ms. Naidoo.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., is proud to announce Wendy Reynolds-Dobbs, VP and Chief DEI Officer, has been named a 2024 Automotive News Champion of Diversity. The 2024 class of Champions of Diversity was chosen by Automotive News editors and journalists from scores of nominees. Profiles of this fourth class of Champions of Diversity are available at https://www.autonews.com/awards/notable-champions-of-diversity/2024/.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported third quarter 2024 net income of $126 million ($6.37 per diluted share), a decrease of 25% from $169 million ($8.19 per diluted share) in third quarter 2023. The Company reported third quarter 2024 adjusted net income, a non-GAAP measure, of $126 million ($6.35 per diluted share), a decrease of 25% from $168 million ($8.12 per diluted share) in third quarter 2023.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its third quarter financial results before the market opens on Tuesday, October 29, 2024. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group (NYSEABG) today announced the filing of a lawsuit on October 4, 2024 in the United States District Court for the Northern District of Texas challenging as unconstitutional an administrative proceeding filed against Asbury by the Federal Trade Commission (“FTC”). In August, Asbury rejected as false and unfounded an FTC complaint that three Asbury dealerships in the Dallas-Ft. Worth area sold protection products to customers that the customers did not agree to buy.

Asbury Automotive Group (NYSEABG) today rejected false and unfounded allegations by the Federal Trade Commission (FTC) that three of its dealerships in the Dallas-Ft. Worth area sold protection products to customers that the customers did not agree to buy and that the dealerships discriminated against minorities in the sale of these products.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S, is proud to be recognized as one of America’s Fastest-Growing Companies for 2024 by the Financial Times.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported second quarter 2024 net income of $28 million ($1.39 per diluted share), a decrease of 86% from $196 million ($9.34 per diluted share) in second quarter 2023. Second quarter 2024 adjusted net income, a non-GAAP measure, decreased 31% year-over-year to $129 million ($6.40 per diluted share) compared to adjusted net income of $188 million ($8.95 per diluted share) in second quarter 2023.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its second quarter financial results before the market opens on Friday, August 2, 2024. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG) (“we,” “our” or the “Company”), one of the largest automotive retail and service companies in the U.S., is proud to announce the appointment of Dean A. Calloway as SVP, General Counsel and Secretary, effective July 1, 2024. Dean joined Asbury as Assistant General Counsel in October 2013. He was promoted to Associate General Counsel in February 2017, and then promoted to Vice President and Associate General Counsel in August 2022. In his 10+ years with the Company, Dean has taken the lead on complex commercial litigation, cyber security issues, corporate governance matters, franchise and OEM matters, and employment issues. He has also served as assistant corporate secretary. Prior to joining Asbury, Dean was a partner in the Atlanta office of an Am Law 15 firm where he worked in the firm’s business and tort litigation group.

Asbury Automotive Group, Inc. (NYSEABG) (“we,” “our” or the “Company”), one of the largest automotive retail and service companies in the U.S., learned on Wednesday, June 19, 2024, that one of its vendors (CDK Global) experienced a cyber-attack impacting certain services provided to the Company and many other automotive retailers, including the Company’s sales, service, inventory, customer relationship management, and accounting functions. Upon discovery of the incident, we took immediate precautionary steps to protect our systems.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., today announced its board of directors approved an increase in the authorization of the share repurchase plan for the Company, which expands the remaining availability to $400 million.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported first quarter 2024 net income of $147 million ($7.21 per diluted share), a decrease of 19% from $181 million ($8.37 per diluted share) in first quarter 2023.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company"), one of the largest automotive retail and service companies in the U.S., announced today that George A. Villasana, Senior Vice President, Chief Legal Officer and Secretary of the Company, provided notice of his intention to retire from the Company after serving in that role for over 12 years. Under the transition plan, Mr. Villasana will continue to serve as Senior Vice President, Chief Legal Officer and Secretary until June 30, 2024, and thereafter will serve as a Special Advisor to the Company until his retirement on March 31, 2025. Mr. Villasana announced his retirement to facilitate an orderly transition to his successor, who is expected to be announced following a comprehensive process to consider internal and external candidates.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., has published its 2023 Corporate Responsibility Report to present its Environmental, Social and Governance (“ESG”) commitments and related initiatives.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its first quarter financial results before the market opens on Thursday, April 25, 2024. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported fourth quarter 2023 net income of $56 million ($2.70 per diluted share), a decrease of 89% from $353 million ($15.95 per diluted share) in fourth quarter 2022. Fourth quarter 2023 results include non-cash asset impairments of $117.2 million or $4.29 per diluted share. Fourth quarter 2022 results include gains on dealership divestitures of $203 million or $6.92 per diluted share. Fourth quarter 2023 adjusted net income, a non-GAAP measure, decreased 28% year-over-year to $146 million ($7.12 per diluted share) compared to adjusted net income of $202 million ($9.12 per diluted share) in fourth quarter 2022. During 2022, the Company completed sixteen divestitures that contributed $683 million in revenue for the year. Four of the divestitures closed in the first quarter, three in the second quarter, and nine in the fourth quarter of 2022.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its fourth quarter financial results before the market opens on Thursday, February 8, 2024. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG), one of the U.S.’ largest automotive retail and service companies, has completed the acquisition of Jim Koons Automotive Companies, the ninth largest privately-owned dealership group in the U.S. The sale includes 20 dealerships, 29 franchises, six collision centers and one of the highest volume Toyota dealerships in the US.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported third quarter 2023 net income of $169 million ($8.19 per diluted share), a decrease of 17% from $205 million ($9.23 per diluted share) in third quarter 2022. Third quarter 2023 adjusted net income, a non-GAAP measure, decreased 18% year-over-year to $168 million ($8.12 per diluted share) compared to adjusted net income of $205 million ($9.23 per diluted share) in third quarter 2022. During 2022, the Company completed sixteen divestitures that contributed $683 million in revenue for the year. Four of the divestitures closed in the first quarter, three in the second quarter, and nine in the fourth quarter of 2022.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., announced today that it has been named by U.S News & World Report as a Best Company to Work for in the Retailers Industry. Asbury was rated among 349 companies across 20 fields of work on factors contributing to job seekers’ decision-making when choosing a workplace that best meets their needs in their industries of interest.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its third quarter financial results before the market opens on Tuesday, October 24, 2023. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG), one of the U.S.’ largest automotive retail and service companies, signed a definitive agreement to acquire Jim Koons Automotive Companies, the ninth largest privately-owned dealership group in the U.S. The sale of the Mid-Atlantic Region company is one of the most sizable in auto retail history, representing over $3 billion in revenue in 2022 and includes 20 dealerships, 29 franchises, six collision centers and one of the highest volume Toyota and Stellantis dealerships in the US. Asbury currently operates 138 dealerships, representing 31 domestic and foreign brands, as well as 32 collision repair centers. Kerrigan Advisors was the exclusive sell-side advisor on the transaction, representing Koons. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2023 or early in the first quarter of 2024. Asbury plans to fund the purchase price with its existing liquidity, credit facility and cash on hand.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., announced today that it is recognized as one of America’s Greatest Workplaces 2023 by Newsweek and Plant-A Insights Group. Asbury received a 5-star rating out of a possible five stars based on results from a national survey on corporate culture, training and career progressions, compensation and benefits, and more.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported second quarter 2023 net income of $196 million ($9.34 per diluted share), a decrease of 2% from $201 million ($9.07 per diluted share) in second quarter 2022. Second quarter 2023 adjusted net income, a non-GAAP measure, decreased 16% year-over-year to $188 million ($8.95 per diluted share) compared to adjusted net income of $223 million ($10.04 per diluted share) in second quarter 2022. During 2022, the Company completed sixteen divestitures that contributed $683 million in revenue for the year. Four of the divestitures closed in the first quarter, three in the second quarter, and nine in the fourth quarter of 2022.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., today announced its board of directors approved a new authorization to repurchase up to $250 million shares of the Company’s common stock.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported first quarter 2023 net income of $181 million ($8.37 per diluted share), a decrease of 24% from $238 million ($10.38 per diluted share) in the prior year quarter. First quarter 2023 adjusted net income, a non-GAAP measure, decreased 15% year-over-year to $181 million ($8.37 per diluted share) compared to adjusted net income of $212 million ($9.27 per diluted share) in first quarter 2022. During 2022, the Company completed sixteen divestitures that contributed $683 million in revenue for the year. Four of the divestitures closed in the first quarter, three in the second quarter, and nine in the fourth quarter of 2022.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its first quarter financial results before the market opens on Tuesday, April 25, 2023. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., has published its 2022 Corporate Responsibility Report to present its Environmental, Social and Governance (“ESG”) commitments and related initiatives.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported fourth quarter 2022 net income of $353 million ($15.95 per diluted share), an increase of 151% from $141 million ($6.44 per diluted share) in the prior year quarter. Fourth quarter 2022 adjusted net income, a non-GAAP measure, increased 24% year-over-year to $202 million ($9.12 per diluted share) compared to adjusted net income of $163 million ($7.46 per diluted share) in fourth quarter 2021.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., today announced its board of directors increased the Company’s common stock repurchase authorization by $108 million to a total of $200 million.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its fourth quarter financial results before the market opens on Thursday, February 2, 2023. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG) (“Asbury” or the “Company”), one of the largest automotive retail and service companies in the U.S., announced that Nathan Briesemeister joined the Company as its Vice President, Chief Accounting Officer & Controller effective November 7, 2022.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported record third quarter 2022 net income of $205 million ($9.23 per diluted share), an increase of 39% from $147 million ($7.54 per diluted share) in the prior year quarter. Third quarter 2022 adjusted net income, a non-GAAP measure, increased 43% year-over-year to $205 million ($9.23 per diluted share) compared to adjusted net income of $144 million ($7.36 per diluted share) in third quarter 2021.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its third quarter financial results before the market opens on Thursday, October 27, 2022. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported record second quarter 2022 net income of $201 million ($9.07 per diluted share), an increase of 32% from $152 million ($7.80 per diluted share) in the prior year quarter. Second quarter 2022 adjusted net income, a non-GAAP measure, increased 47% year-over-year to $223 million ($10.04 per diluted share) compared to adjusted net income of $152 million ($7.78 per diluted share) in second quarter 2021.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its second quarter financial results before the market opens on Thursday, July 28, 2022. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported record first quarter 2022 net income of $237.7 million ($10.38 per diluted share), an increase of 156% from $92.8 million ($4.78 per diluted share) in the prior year quarter.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its first quarter financial results before the market opens on April 28, 2022. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG) (“Asbury” or the “Company”), one of the largest automotive retail and service companies in the U.S., announced today the appointment of Hilliard C. Terry, III to its Board of Directors, effective February 22, 2022. The Board has appointed Mr. Terry to the Company’s Compensation and Human Resources Committee and the Capital Allocation & Risk Management Committee. Mr. Terry’s appointment brings the total number of Directors to ten, nine of whom are independent.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., reported record net income for the fourth quarter 2021 of $141 million ($6.44 per diluted share). This result compares to net income of $89 million ($4.59 per diluted share) in the prior year quarter.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its fourth quarter and full year financial results before the market opens on February 15, 2022. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., completed the previously announced acquisition (the LHM Acquisition), which includes Larry H. Miller Dealerships (LHM Dealerships) and Total Care Auto, Powered by Landcar (TCA ) from the Larry H. Miller Group of Companies (LHM Group), adding 54 new vehicle dealerships, seven used vehicle dealerships, 11 collision centers, a used vehicle wholesale business and an F&I product provider. The LHM Acquisition will add approximately $5.7 billion in annualized revenues.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., completed the acquisition of Stevinson Automotive (“Stevinson”) adding approximately $715 million in annual revenues.

Asbury Automotive Group, Inc. (NYSEABG) (“Asbury”) announced today that it has priced its previously announced private placement of senior notes, consisting of $800 million aggregate principal amount of 4.625% Senior Notes due 2029 (the “2029 Notes”) and $600 million aggregate principal amount of 5.000% Senior Notes due 2032 (the “2032 Notes” and, together with the 2029 Notes, the “Notes”). Due to the exercise of the option to purchase additional shares in Asbury's concurrent common stock offering and the corresponding increase in proceeds, the aggregate principal amount of the Notes was decreased by $100 million from the total aggregate principal amount previously announced. The Notes were priced at par. The offering will be exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).

Asbury Automotive Group, Inc. (NYSEABG), one of the largest U.S.-based franchised automotive retailers (“Asbury”), announced today that it has priced its previously announced public offering of 3,300,000 shares of its common stock at $182.00 per share, all of which will be sold by Asbury. Additionally, Asbury has granted the underwriters in the offering an option for a period of 30 days to purchase up to 495,000 additional shares of its common stock. The offering is expected to close on November 5, 2021, subject to customary closing conditions.

Asbury Automotive Group, Inc. (NYSEABG) (“Asbury”) announced today that it intends to offer up to $1.5 billion aggregate principal amount of Senior Notes, which will consist of Senior Notes due 2029 (the “2029 Notes”) and Senior Notes due 2032 (the “2032 Notes” and together with the 2029 Notes, the “Notes”), subject to market conditions. The offering will be exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).

Asbury Automotive Group, Inc. (NYSEABG), one of the largest U.S.-based franchised automotive retailers (“Asbury”), announced today that it has commenced an underwritten public offering of 3,300,000 shares of its common stock pursuant to an automatic shelf registration statement effective November 1, 2021. In addition, Asbury expects to grant the underwriters an option for a period of 30 days to purchase up to 495,000 additional shares of its common stock. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size and terms of the offering.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., reported record net income for the third quarter 2021 of $147.0 million ($7.54 per diluted share). This result compares to net income of $96.2 million ($4.96 per diluted share) in the prior year quarter.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its third quarter financial results before the market opens on Tuesday, October 26, 2021. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., entered into a definitive agreement with Larry H. Miller Group of Companies (“LHM Group”) to acquire Larry H. Miller Dealerships, the eighth largest dealer group in the U.S., and Total Care Auto, Powered by Landcar (“TCA” or “Landcar Agency”).

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., reported record net income for the second quarter 2021 of $152.1 million ($7.80 per diluted share). This compares to net income of $49.6 million ($2.57 per diluted share) in the prior year quarter.

Asbury Automotive Group, Inc. (NYSEABG) (“Asbury” or the “Company”), one of the largest automotive retail and service companies in the U.S., announced today additional product enhancements to Clicklane – a technology ecosystem which enables an authentic online car-buying and selling experience. Improvements include a strategic partnership with Insignia Group to provide vehicle customization accessories.

Asbury Automotive Group, Inc. (NYSEABG) (“Asbury” or the “Company”), one of the largest automotive retail and service companies in the U.S., announced today a significant new enhancement to Clicklane – a technology ecosystem which enables a complete online car-buying and selling experience.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., announced that it will release its second quarter financial results before the market opens on July 27, 2021. Asbury will host a conference call later that day at 10:00 a.m. Eastern Time.

Asbury Automotive Group, Inc. (NYSEABG) (“Asbury” or the “Company”), one of the largest automotive retail and service companies in the U.S., today announced that Michael Welch will join the Company as its Senior Vice President and Chief Financial Officer effective August 9, 2021.

Asbury Automotive Group, Inc. (NYSEABG) (“Asbury” or the “Company”), one of the largest automotive retail and service companies in the U.S., today announced that Patrick J. Guido provided notice of his decision to resign from the position of Senior Vice President & Chief Financial Officer of the Company effective June 24, 2021 for personal reasons. David W. Hult, Asbury’s President & Chief Executive Officer, said, “We thank PJ Guido for his service to Asbury and leading the finance team.” Guido said, “I would like to thank David and the Board for the opportunity to have served as CFO and wish the Company and my former colleagues well in the future.” The Company also announced that William Stax, Vice President, Corporate Controller & Chief Accounting Officer of the Company, was appointed as interim Principal Financial Officer effective June 25, 2021 while the Company conducts a search for a new Chief Financial Officer.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., reported net income for the first quarter 2021 of $92.8 million ($4.78 per diluted share). This compares to net income of $19.5 million ($1.01 per diluted share) in the prior year quarter.