Asbury Automotive Group (ABG) Q2 FY2024 earnings: revenue $4.2 billion, up 13.5% on the year

Asbury Automotive Group Inc. (ABG) reported revenue of $4.2 billion for Q2 FY2024, the quarter ended 30 June 2024, up 13.5% on the same quarter a year earlier. Net income was $28 million, down 85.7% on the year, and diluted earnings per share $1.39. The figures are the company's own, from the 10-Q it filed with the SEC on 9 August 2024.

Revenue$4.2 billionup 13.5%

Net income$28 milliondown 85.7%

Diluted EPS$1.39

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	4,246	4,201	n/a	n/a
Cost of revenue	3,516	3,451	n/a	n/a
Gross profit	731	750	n/a	n/a
Gross margin	17.2%	17.9%	n/a
Selling, general and administrative	476	469	n/a	n/a
Operating income	100	263	n/a	n/a
Operating margin	2.4%	6.3%	n/a
Pre-tax income	38.0	196	n/a	n/a
Income tax	9.9	48.8	n/a	n/a
Effective tax rate	26.1%	24.9%	n/a
Net income	28.1	147	n/a	n/a
Net margin	0.7%	3.5%	n/a
Diluted EPS	$1.39	$7.21	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	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	-154	177	n/a	n/a
Cash from investing	-4.4	-13.6	n/a	n/a
Cash from financing	197	-180	n/a	n/a
Depreciation and amortisation	18.2	18.7	n/a	n/a
Share-based compensation	5.7	10.5	n/a	n/a
Buybacks	0.1	9.8	n/a	n/a
Diluted shares, weighted	20m	20m	n/a	n/a
Shares outstanding at period end	20m	20m	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	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	3,331	3,347	n/a	n/a
Debt	3,488	2,229	n/a	n/a
Operating lease liabilities	209	211	n/a	n/a
Other liabilities	3,278	4,345	n/a	n/a
Total liabilities and equity	10,306	10,132	n/a	n/a
Fixed assets	2,423	2,408	n/a	n/a
Goodwill	2,010	2,015	n/a	n/a
Investments	10.5	6.9	n/a	n/a
Cash and equivalents	67.2	29.0	n/a	n/a
Receivables	235	227	n/a	n/a
Inventory	2,066	1,863	n/a	n/a
Other assets	3,493	3,582	n/a	n/a
Total assets	10,306	10,132	n/a	n/a

Questions

What was Asbury Automotive Group's revenue in Q2 FY2024?

Asbury Automotive Group (ABG) reported revenue of $4.2 billion for Q2 FY2024, the quarter ended 30 June 2024, up 13.5% on the same quarter a year earlier.

How much did Asbury Automotive Group earn in Q2 FY2024?

Net income for Q2 FY2024 was $28 million, down 85.7% on the year, and diluted earnings per share $1.39.

When did Asbury Automotive Group report Q2 FY2024 results?

Asbury Automotive Group filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 9 August 2024.

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 June 2024, filed 9 August 2024, accession 0001144980-24-000130: the filing on EDGAR. All of Asbury Automotive Group Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install