Asbury Automotive (ABG) Tops Q2 EPS by 8c; Sees Q3 Impact from Japan

Asbury Automotive (NYSE: ABG) reported Q2 EPS of $0.51, $0.08 better than the analyst estimate of $0.43. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.14 billion.

Commenting on the Japanese supply challenges, Michael S. Kearney, Asbury's Executive Vice President and Chief Operating Officer stated, "We are encouraged by the speed and efficiency with which our Japanese manufacturing partners are restoring production capacity, and admire their dedication. Our Japanese dealerships are experiencing the impact of inventory shortages; we anticipate that our affected inventories will bottom-out in July or August. We believe our third quarter earnings could be adversely impacted in the range of $0.05-0.10 per diluted share as a result of disruptions in the market..."

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Primoris cuts 2026 outlook on renewables cost overruns, COO exits
• Stifel Starts Victrex Plc. (VCT:LN) (VTXPF) at Buy