Asbury Automotive Is Trading Lower On Heels Of Q1 Earnings Report
Asbury Automotive Is Trading Lower On Heels Of Q1 Earnings Report
Shares of Asbury Automotive Group Inc (NYSE:ABG) are trading at $213.99 each; that's down by more than 3.4% at last check Thursday.
阿斯伯裏汽車集團公司（紐約證券交易所代碼：ABG）的股票每股交易價格爲213.99美元；在週四的最後一次檢查中下跌了3.4％以上。
The Duluth, Georgia-based company reported first-quarter earnings per share of $7.21, missing the street view of $7.76 due to a tight inventory market and volume challenges.
這家總部位於佐治亞州德盧斯的公司公佈的第一季度每股收益爲7.21美元，由於庫存市場緊張和銷量挑戰，未達到7.76美元的街景。
Quarterly sales of $4.201 billion missed the street view of $4.264 billion. Revenue, however, increased 17% year over year. Gross profit increased 8% year-over-year to $750 million, while gross margin decreased 158 bps to 17.9%.
季度銷售額爲42.01億美元，低於42.64億美元的街景。但是，收入同比增長了17％。毛利同比增長8％，至7.5億美元，毛利率下降158個點子至17.9％。
"We delivered on our ongoing commitment to profitably grow same store preowned volume by retailing over 2,700 more units sequentially, even in a tight inventory market, and new vehicle profits performed well against brand mix driven volume challenges," said Asbury CEO David Hult.
阿斯伯裏首席執行官戴維·霍特表示：“即使在庫存緊張的情況下，我們也兌現了持續的承諾，即通過連續零售超過2700輛，實現同店二手車銷量盈利增長，新車利潤在品牌組合驅動的銷量挑戰中表現良好。”
Asbury said new vehicle unit volume increased by 18%, new vehicle revenue increased by 17%, while new vehicle gross profit decreased by 9%.
阿斯伯裏說，新車銷量增長了18％，新車收入增長了17％，而新車毛利下降了9％。
Same-store revenue of $3.5 billion decreased 1% year over year, while gross margin decreased 136 bps to 18.1%.
35億美元的同店收入同比下降1％，而毛利率下降136個點子至18.1％。
As of March 31, 2024, the company had cash and floor plan offset accounts of $225 million.
截至2024年3月31日，該公司的現金和平面圖抵消賬戶爲2.25億美元。
The company repurchased approximately 240,000 shares for $50 million during the first quarter of 2024.
該公司在2024年第一季度以5000萬美元的價格回購了約24萬股股票。
"Our results demonstrate how our strategic investments have enabled us to deliver strong results despite challenging market conditions," the CEO added.
首席執行官補充說：“我們的業績表明，儘管市場條件艱難，我們的戰略投資如何使我們能夠取得強勁的業績。”
Share Repurchases
股票回購
The company repurchased approximately 240,000 shares for $50 million during the first quarter 2024.
該公司在2024年第一季度以5000萬美元的價格回購了約24萬股股票。
As of March 31, Asbury had $153 million remaining on its share repurchase authorization.
截至3月31日，阿斯伯裏的股票回購授權還剩1.53億美元。
Price Action: ABG shares are trading lower by 3.55% to $213.66 at last check Thursday.
價格走勢：週四最後一次檢查時，ABG股價下跌3.55％，至213.66美元。
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