Asbury Automotive Group (ABG) Q3 FY2023 earnings: revenue $3.7 billion, down 5.2% on the year

Asbury Automotive Group Inc. (ABG) reported revenue of $3.7 billion for Q3 FY2023, the quarter ended 30 September 2023, down 5.2% on the same quarter a year earlier. Net income was $169 million, down 17.5% on the year, and diluted earnings per share $8.19. The figures are the company's own, from the 10-Q it filed with the SEC on 27 October 2023.

Revenue$3.7 billiondown 5.2%

Net income$169 milliondown 17.5%

Diluted EPS$8.19

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	3,666	n/a	n/a	n/a
Cost of revenue	2,993	n/a	n/a	n/a
Gross profit	674	n/a	n/a	n/a
Gross margin	18.4%	n/a	n/a
Selling, general and administrative	392	n/a	n/a	n/a
Operating income	265	n/a	n/a	n/a
Operating margin	7.2%	n/a	n/a
Pre-tax income	226	n/a	n/a	n/a
Income tax	56.8	n/a	n/a	n/a
Effective tax rate	25.1%	n/a	n/a
Net income	169	n/a	n/a	n/a
Net margin	4.6%	n/a	n/a
Diluted EPS	$8.19	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	18.1	n/a	n/a	n/a
Cash from investing	-27.9	n/a	n/a	n/a
Cash from financing	-26.2	n/a	n/a	n/a
Depreciation and amortisation	17.0	n/a	n/a	n/a
Share-based compensation	5.2	n/a	n/a	n/a
Buybacks	0.2	n/a	n/a	n/a
Diluted shares, weighted	21m	n/a	n/a	n/a
Shares outstanding at period end	21m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	3,248	n/a	n/a	n/a
Debt	3,214	n/a	n/a	n/a
Operating lease liabilities	216	n/a	n/a	n/a
Other liabilities	1,577	n/a	n/a	n/a
Total liabilities and equity	8,255	n/a	n/a	n/a
Fixed assets	1,960	n/a	n/a	n/a
Goodwill	1,783	n/a	n/a	n/a
Investments	7.4	n/a	n/a	n/a
Cash and equivalents	41.6	n/a	n/a	n/a
Receivables	202	n/a	n/a	n/a
Inventory	1,242	n/a	n/a	n/a
Other assets	3,018	n/a	n/a	n/a
Total assets	8,255	n/a	n/a	n/a

Questions

What was Asbury Automotive Group's revenue in Q3 FY2023?

Asbury Automotive Group (ABG) reported revenue of $3.7 billion for Q3 FY2023, the quarter ended 30 September 2023, down 5.2% on the same quarter a year earlier.

How much did Asbury Automotive Group earn in Q3 FY2023?

Net income for Q3 FY2023 was $169 million, down 17.5% on the year, and diluted earnings per share $8.19.

When did Asbury Automotive Group report Q3 FY2023 results?

Asbury Automotive Group filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 27 October 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	3,666	3,812	4,201	4,246	4,237	4,504	4,148	4,373	4,801	4,676	4,113	4,385
Cost of revenue	2,993	3,139	3,451	3,516	3,519	3,755	3,424	3,621	3,998	3,884	3,386	3,632
Gross profit	674	673	750	731	718	750	724	752	802	793	727	753
Gross margin	18%	18%	18%	17%	17%	17%	17%	17%	17%	17%	18%	17%
SG&A	392	414	469	476	466	477	456	476	527	529	510	506
Operating income	265	125	263	100	233	240	234	257	243	126	194	220
Operating margin	7%	3%	6%	2%	5%	5%	6%	6%	5%	3%	5%	5%
Pre-tax income	226	75.7	196	38.0	170	172	175	204	200	82.8	251	151
Tax rate	25%	27%	25%	26%	26%	25%	25%	25%	27%	28%	25%	24%
Net income	169	55.5	147	28.1	126	129	132	153	147	60.0	188	115
Net margin	5%	1%	4%	1%	3%	3%	3%	3%	3%	1%	5%	3%
Diluted EPS	$8.19	$2.70	$7.21	$1.39	$6.37	$6.54	$6.71	$7.76	$7.52	$3.10	$9.87	$6.25
Operating cash flow	18.1	73.2	177	-154	404	244	225	91.4	307	152	223	129
Buybacks	0.2	0.2	9.8	0.1	0.2	0.1	12.5	0.2	37.3	-37.2	147	131
Shares outstanding	21m	20m	20m	20m	20m	20m	20m	20m	19m	19m	19m	18m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 27 October 2023, accession 0001144980-23-000127: the filing on EDGAR. All of Asbury Automotive Group Inc.'s filings: EDGAR company page.

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