FX.co ★ Asbury Automotive Group Inc. Reports Retreat In Q1 Bottom Line, misses estimates

Asbury Automotive Group Inc. reported a decrease in earnings for the first quarter compared to the same period in the previous year. Additionally, the earnings reported fell short of estimated figures predicted by experts.

The company announced an earning of $147.1 million, equating to $7.21 per share. This represents a decline when compared to the $181.4 million, or $8.37 per share, reported in the first quarter of the previous year.

Industry analysts, on average, had predicted that the company would earn $7.76 per share, according to data collected by Thomson Reuters. It's important to note that these estimates typically do not account for special items.

Despite the drop in earnings, Asbury's revenue for the quarter saw an increase of 17.3%, rising to $4.20 billion from $3.58 billion in the same period last year.

In summary, Asbury Automotive Group's earnings report shows (according to GAAP standards):

- A decrease in earnings for Q1, down to $147.1 million from $181.4 million last year.

- A decrease in earnings per share (EPS) for Q1, down to $7.21 from $8.37 last year.

- An increase in revenue for Q1, up to $4.20 billion from $3.58 billion last year.