NYSE$ABG
Asbury Automotive Group Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Asbury's financial performance reached record levels, driven by strong execution and strategic acquisitions.
Asbury Automotive Group reported record third-quarter results, with a 30% increase in revenue and a 52% increase in EPS. The company's performance was driven by strong execution and strategic acquisitions, including the upcoming acquisition of Larry H. Miller Dealerships and Total Care Auto.
- Record third quarter EPS of $7.54, up 52% year-over-year.
- Adjusted EPS of $7.36, up 80% year-over-year.
- Revenue increased 30% and gross profit increased 43% year-over-year.
- SG&A as a percentage of gross profit decreased 550 bps to 56.0%.
Headline financials
Revenue & EPS history
Asbury · Revenue · Quarterly
$2.41B
Revenue by segment
Asbury · $2.41B total across 4 segments · Q3 2021
- New Vehicle Revenue$1.13B+17.9%46.9%
- Used Vehicle Revenue$879M+54.3%36.5%
- Parts and Service Revenue$297M+25.3%12.3%
- Net Finance and Insurance$100M+24.3%4.2%
Forward guidance
Asbury expects to close on acquisitions totaling $6.6 billion in annualized revenue in 2021 and is tracking to surpass its strategic five-year plan.
Tailwinds
- The company is trending well on its same store pillar of its five-year growth plan.
- The company announced the upcoming transformative acquisition of the Larry H. Miller Dealerships and Total Care Auto.
- The acquisitions, both closed and under contract, will add an additional $900 million in revenue.
- The company expects to close on acquisitions totaling $6.6 billion in annualized revenue.
- The company is tracking to surpass its strategic five-year plan.
Headwinds
- The supply of new inventory remained constrained.
- The company faces risks related to competition in the automotive retail and service industries.
- General economic conditions both nationally and locally could impact the company's performance.
- Governmental regulations and legislation could pose challenges.
- Adverse results in litigation and other proceedings could negatively affect the company.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+0.1%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.8%
Avg return
30 days after
40%
26 / 65 earnings
Positive
+16.1%
Q1 2022
Best reaction
-12.6%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | +1.5% | -2.7% | |
| Q4 2025 | -7.0% | -3.6% | -13.6% | |
| Q3 2025 | +1.2% | +0.1% | +0.1% | |
| Q1 2025 | -3.6% | -0.9% | +0.8% | |
| Q4 2024 | +11.5% | +7.8% | -2.2% | |
| Q3 2024 | +3.3% | +1.1% | +15.3% | |
| Q2 2024 | -12.6% | -13.7% | -6.8% | |
| Q1 2024 | +0.2% | -5.1% | +4.4% | |
| Q4 2023 | +2.5% | +3.6% | -0.5% | |
| Q3 2023 | -7.2% | -6.3% | +4.0% | |
| Q2 2023 | -4.7% | -5.6% | -6.6% | |
| Q1 2023 | -10.1% | -6.5% | -2.8% | |
| Q4 2022 | +5.0% | +1.8% | +2.8% | |
| Q3 2022 | +1.5% | +8.5% | +17.4% | |
| Q2 2022 | +5.0% | +6.9% | +12.7% | |
| Q1 2022 | +16.1% | +23.1% | +17.0% | |
| Q4 2021 | +14.6% | +15.6% | +20.7% | |
| Q3 2021 | -11.1% | -12.4% | -26.6% | |
| Q2 2021 | -1.2% | +4.3% | -5.9% | |
| Q1 2021 | -1.6% | -4.5% | -4.1% | |
| Q4 2020 | -3.0% | +2.5% | +11.0% | |
| Q3 2020 | -8.6% | -11.7% | +3.6% | |
| Q2 2020 | -4.3% | -7.9% | -4.6% | |
| Q1 2020 | -1.7% | +5.4% | +22.2% | |
| Q4 2019 | -0.8% | -2.9% | -2.4% | |
| Q3 2019 | -6.3% | -2.9% | +2.8% | |
| Q2 2019 | +5.3% | +2.6% | -1.1% | |
| Q1 2019 | +8.4% | +10.6% | +6.1% | |
| Q4 2018 | -4.5% | -4.7% | -7.5% | |
| Q3 2018 | +10.7% | +13.5% | +14.9% | |
| Q2 2018 | -1.0% | -1.7% | +9.2% | |
| Q1 2018 | +4.1% | +1.6% | +3.7% | |
| Q4 2017 | +4.4% | +5.4% | +3.0% | |
| Q3 2017 | +5.4% | +8.7% | +14.6% | |
| Q2 2017 | -5.3% | -2.8% | -10.7% | |
| Q1 2017 | -3.0% | -7.9% | -10.9% | |
| Q4 2016 | +2.8% | +2.8% | -3.7% | |
| Q3 2016 | -6.2% | -5.4% | +10.6% | |
| Q2 2016 | -1.4% | -0.2% | -13.0% | |
| Q1 2016 | +9.0% | — | — | |
| Q4 2015 | +3.3% | — | — | |
| Q3 2015 | -9.5% | — | — | |
| Q2 2015 | -9.0% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | -1.1% | — | — | |
| Q3 2014 | -5.9% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | +9.4% | — | — | |
| Q4 2013 | +8.4% | — | — | |
| Q3 2013 | -10.9% | — | — | |
| Q2 2013 | +3.9% | — | — | |
| Q1 2013 | +11.8% | — | — | |
| Q4 2012 | -3.1% | — | — | |
| Q3 2012 | +4.0% | — | — | |
| Q2 2012 | -1.9% | — | — | |
| Q1 2012 | +5.3% | — | — | |
| Q1 2011 | +5.3% | — | — | |
| Q4 2009 | -0.4% | — | — | |
| Q4 2011 | -0.4% | — | — | |
| Q3 2011 | -1.5% | — | — | |
| Q3 2010 | -1.5% | — | — | |
| Q2 2010 | +0.0% | — | — | |
| Q4 2010 | +0.0% | — | — | |
| Q2 2011 | +0.0% | — | — | |
| Q1 2010 | -5.1% | — | — |
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