DULUTH, Ga. (AP) — Asbury Automotive Group Inc. (ABG) on Wednesday reported fourth-quarter profit of $40.4 million.
On a per-share basis, the Duluth, Georgia-based company said it had profit of $2.06. Earnings, adjusted for one-time gains and costs, were $2.20 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.
The auto dealership chain posted revenue of $1.78 billion in the period.
Asbury Automotive shares have risen nearly 9 percent since the beginning of the year. The stock has climbed 10 percent 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
