ATLANTA (AP) — ATLANTA (AP) — Asbury Automotive Group Inc. (ABG) on Thursday reported fourth-quarter earnings of $60 million.
On a per-share basis, the Atlanta-based company said it had profit of $3.10. Earnings, adjusted for one-time gains and costs, came to $6.67 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $6.70 per share.
The auto dealership chain posted revenue of $4.68 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $4.82 billion.
For the year, the company reported profit of $492 million, or $25.13 per share. Revenue was reported as $18 billion.
Asbury Automotive shares have climbed nearly 2% since the beginning of the year. The stock has declined 20% 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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