Asbury Automotive Group Inc

ABG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$171.00	Hkzdx	Zklhysg

Asbury Earnings: 2025 Revenue Target Being Pushed Out Is Neither a Surprise Nor a Major Concern

David Whiston

Feb 8, 2024

Asbury finished 2023 with fourth-quarter results hurt by used vehicle affordability headwinds and new vehicle profitability coming off record highs caused by the chip shortage. These are problems common in our dealer coverage, so we don’t think our Asbury investment thesis is broken. However, management followed through with its previous plan to update the $32 billion 2025 revenue target when it reported year-end 2023 results. The new target is at least $30 billion of sales sometime between 2025 and 2030. No breakout was given between organic growth, acquisitions, and Clicklane.

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