Asbury Automotive skids after Q3 results miss estimates

Asbury Automotive

24/10/2023 18:52

** Shares of U.S. auto dealer Asbury Automotive Group
 ABG.N  fall 5.8% to $187.645, hitting their lowest level in
nearly six months intraday
    ** Stock on track to decline for the fifth straight session
    ** Co reports Q3 revenue of $3.67 bln, missing analysts'
estimates of $3.77 bln - LSEG data
    ** Q3 adj. earnings of $8.12/shr were below estimates of
$8.44/shr  
    ** Q3 used vehicle retail unit volume falls 17% YoY; used
vehicle retail rev down 19%
    ** Stock up 4.7% YTD

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))