DULUTH, Ga. (AP) — DULUTH, Ga. (AP) — Asbury Automotive Group Inc. (ABG) on Tuesday reported first-quarter profit of $132.1 million.
On a per-share basis, the Duluth, Georgia-based company said it had profit of $6.71. Earnings, adjusted for one-time gains and costs, came to $6.82 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $6.84 per share.
The auto dealership chain posted revenue of $4.15 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $4.4 billion.
Asbury Automotive shares have dropped nearly 8% since the beginning of the year. The stock has climbed 1% 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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