DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Asbury Automotive Group Inc. (ABG) on Thursday reported fourth-quarter net income of $128.8 million.
The Duluth, Georgia-based company said it had profit of $6.54 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $7.26 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $6.07 per share.
The auto dealership chain posted revenue of $4.5 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $4.13 billion.
For the year, the company reported profit of $430.3 million, or $21.50 per share. Revenue was reported as $17.19 billion.
Asbury Automotive shares have increased 13% since the beginning of the year. The stock has increased 25% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABG at https://www.zacks.com/ap/ABG
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