Asbury Automotive Group Inc (ABG)

Shares of Asbury Automotive Group (ABG) dropped by 6.35% from $199.16 to $186.52 in the trading on Tuesday, October 24, 2023. The reason why ABG stock down is due to the company's weak quarterly results.

• Asbury Automotive Group (ABG) fell short of expectations in its latest quarterly report, posting earnings of $8.12 per share, below the anticipated $8.44 per share and a decrease from the previous year's $9.23 per share. Adjusted for non-recurring items, this translated into an earnings surprise of -3.79%.
• On the revenue front, ABG reported $3.67 billion for the quarter ending in September 2023, missing the Zacks Consensus Estimate by 1.51% and down from $3.87 billion in the same period the previous year.