Asbury Automotive Group Inc Common Stock (ABG)

The Board of Directors of 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 Senior Vice President of Operations Daniel E. Clara has been promoted to Chief Operating Officer effective February 17, 2025. Mr. Clara has over 23 years of extensive automotive retail experience. Prior to his 5 years as SVP of Operations, he held positions as regional vice president, market director, general manager, other store-level department leadership roles, and store-level frontline retail positions at Asbury.

Asbury Automotive Group to acquire The Herb Chambers Companies for $1.34 billion in cash and credit, adding 33 dealerships and boosting revenue.

Asbury Automotive Group, Inc. (NYSEABG), one of the largest automotive retail and service companies in the U.S., signed a definitive agreement to acquire various automotive dealerships owned by The Herb Chambers Companies (HCC), the fourteenth largest by revenue privately-owned dealership group in the country. The sale of this flagship New England Region company is one of the most sizable in U.S. auto retail history, representing $2.9 billion in revenue in 2024, and includes 33 dealerships, 52 franchises, and three collision centers. The transaction is subject to customary closing conditions and is expected to close late in the second quarter of 2025. Asbury plans to fund the $1.34 billion purchase price with a combination of credit facility capacity, mortgage proceeds and cash. Herb Chambers, principal of the Herb Chambers Companies, has agreed to assume the post of Special Advisor to Asbury and will retain ownership of Mercedes-Benz of Boston in Somerville, Massachusetts.

Asbury Automotive Group (NYSEABG) shares are trading higher Thursday after the company reported strong fourth-quarter financial results that exceeded analyst expectations.

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.

Landcar Casualty Company (Landcar), a subsidiary of Asbury Automotive Group (Asbury), received AM Best’s upgraded Financial Strength Rating to A (Excellent) from A- (Excellent). AM Best is a global credit rating agency, news publisher, and data analytics provider which completes an annual rating review of Landcar. This refined assessment from AM Best establishes Landcar to the classification from stable to positive.

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) (“Asbury”) one of the largest automotive retail and service companies in the United States, announced today the entry of a court order directing CDK Global LLC (“CDK”) to provide data for four Asbury dealerships to Tekion Corp. (“Tekion”) as part of a pilot program initiated by Asbury at the dealerships. The court’s order followed the filing of a lawsuit by Asbury in the Superior Court of Gwinnett County, Georgia. Prior to the entry of the order, CDK had refused to transfer the dealerships’ data to Tekion, which competes with CDK in providing Dealership Management System (“DMS”) services to automotive dealerships. DMS services are used by automotive dealerships to manage their day-to-day business activities.

Analysts at Morgan Stanley sparked a shakeup across auto stocks Wednesday as the firm moved to the sidelines on automakers and turned more positive on dealers and parts companies.

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.

The CNN Fear and Greed index fell to 39.6, signaling Fear in the market. Dow Jones dropped 495 points, Nasdaq down 2.3%, S&P 500 down 1.37%.

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.