Quarterly ResultApr 28, 2026, 07:08 AM
ABG Q1 Revenue $4.1B; GAAP EPS $9.87 (+47%); Divests 10 Dealerships
AI Summary
Asbury Automotive Group reported first quarter 2026 revenue of $4.1 billion. GAAP net income increased 42% to $188 million, with GAAP EPS rising 47% to $9.87 per diluted share. However, adjusted net income decreased 24% to $102 million, and adjusted EPS fell 21% to $5.37 per diluted share, impacted by weather and DMS implementation costs. The company also divested ten dealerships for approximately $210 million and repurchased $147 million in shares as part of its capital allocation and portfolio optimization efforts.
Key Highlights
- Divested 10 dealerships and terminated 7 franchises, generating approximately $210 million in net proceeds.
- Repurchased approximately 678,000 shares for $147 million; $453 million remains on share repurchase authorization.
- Revenue for the first quarter 2026 reached $4.1 billion.
- GAAP Net Income was $188 million, an increase of 42% from Q1 2025.
- GAAP EPS was $9.87 per diluted share, an increase of 47% from Q1 2025.
- Adjusted Net Income was $102 million, a decrease of 24% from Q1 2025.
- Adjusted EPS was $5.37 per diluted share, a decrease of 21% from Q1 2025.
- Used Retail Gross Profit per Unit grew 16% to $1,847.
- Over 50% of stores converted to Tekion as of April 28, 2026.