Asbury Automotive Group Inc

ABG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$219.00	Gvbmsx	Wwfkhpyxz

Used Vehicles Are the Only Headwind in Asbury's Q3 Results

David Whiston

Oct 28, 2022

Asbury’s third quarter gave us no reason to change our fair value estimate and we think the auto dealers’ results overall have shown the sector is not suffering from poor demand for autos. Diluted EPS of $9.23 grew by 22% year over year and beat the Refinitiv consensus of $9.22. Hurricane Ian late in the quarter cost the firm $0.14, or $4 million pretax, but some of this may get recouped over the next few quarters as consumers replace vehicles lost in the storm or buy a vehicle they would have otherwise bought in third quarter but were unable to shop because of the hurricane.

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