Earnings Releases·Oct 27, 2026, 7:02 AM ET

Asbury Automotive Group — Third Quarter 2026 Earnings Summary

Total revenue decreased 8% year-over-year to $4.4 billion, while net income and adjusted net income declined 29% and 21% respectively to $105 million and $111 million, driven by double-digit drops in new vehicle revenue (-9%) and used vehicle retail revenue (-6%).
The company completed its Tekion platform conversion across all active stores in mid-October, with early results in longest-tenured markets showing 7% growth in customer pay gross profit and 5% growth in parts and service gross profit.
Capital allocation included $278 million in share repurchases year-to-date, leaving $322 million remaining on the authorization, alongside a strong liquidity position of $1.0 billion and a transaction adjusted net leverage ratio of 3.5x.
Management reaffirmed its "Five Pillars" strategy for 2026 focused on market share growth, profitable used vehicle expansion, and SG&A management, while noting a challenging sales environment across all luxury, import, and domestic categories.