Quarterly ResultMay 1, 2026, 04:28 PM
Asbury Automotive Q1 Net Income +42% to $187.8M; EPS $9.90
AI Summary
Asbury Automotive Group reported a significant increase in net income and diluted EPS for the first quarter of 2026, largely driven by a substantial gain from dealership divestitures. Despite a slight decrease in total revenue, the company actively engaged in share repurchases and announced a new share repurchase authorization. Parts and service revenue showed growth, partially offsetting declines in new and used vehicle sales.
Key Highlights
- Net income increased 42.16% to $187.8 million for the three months ended March 31, 2026.
- Diluted earnings per share rose 47.09% to $9.87 for the three months ended March 31, 2026.
- Total revenue slightly decreased by 0.86% to $4,113.0 million for Q1 2026.
- The company recognized a pre-tax gain of $125.8 million from dealership divestitures in Q1 2026.
- Asbury Automotive repurchased 678,243 common shares for $147.0 million in Q1 2026.
- The Board approved a new $500.0 million share repurchase authorization, with $453.0 million remaining.
- Parts and service revenue grew to $626.8 million in Q1 2026, up from $587.6 million in Q1 2025.
- New vehicle revenue was $2,100.8 million and used vehicle revenue was $1,206.3 million for Q1 2026.
Price Impact
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