ASBURY AUTOMOTIVE GROUP, INC. ABG Income Statement

Asbury automotive group, inc. (ABG)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
REVENUE:
New vehicle
822,100	1,039,400	986,900	965,200	871,800	1,022,400	980,500	928,700	857,100	964,100	881,600	882,900	832,500	935,600	940,900	897,000	838,400	931,800	964,000	926,200	830,500	851,800	821,300	831,500	726,000	784,300	759,900	743,500	664,500	713,100	672,300	648,000	574,900	554,400	550,800	570,700	564,300	563,900	548,400
Used vehicle
493,200	541,200	546,900	533,600	509,900	473,400	497,500	516,900	484,600	437,500	455,600	479,200	461,800	468,900	476,400	470,200	460,900	457,700	493,000	507,600	473,400	422,300	457,000	445,300	416,900	380,700	421,700	395,500	366,300	321,200	333,000	330,700	316,700	276,800	318,500	316,700	296,600	284,700	279,900
Parts and service
221,600	229,700	227,600	224,500	217,600	211,100	206,100	204,500	199,300	196,600	197,200	200,800	191,500	193,600	200,400	195,300	189,200	185,200	190,600	188,200	176,700	170,700	168,300	168,200	159,400	156,100	154,000	153,900	147,600	141,400	141,800	141,400	140,700	126,200	141,800	146,000	141,600	140,400	141,000
Finance and insurance, net
70,400	83,700	80,600	80,200	71,500	77,300	73,300	73,500	68,200	72,700	67,700	68,900	65,900	68,400	65,400	64,900	62,300	65,800	68,800	67,600	61,200	58,200	59,000	58,400	53,400	52,800	54,700	52,400	47,000	43,500	44,000	41,400	37,700	33,300	36,100	35,500	32,100	31,000	30,000
TOTAL REVENUE
1,607,300	1,894,000	1,842,000	1,803,500	1,670,800	1,784,200	1,757,400	1,723,600	1,609,200	1,670,900	1,602,100	1,631,800	1,551,700	1,666,500	1,683,100	1,627,400	1,550,800	1,640,500	1,716,400	1,689,600	1,541,800	1,503,000	1,505,600	1,503,400	1,355,700	1,373,900	1,390,300	1,345,300	1,225,400	1,219,200	1,191,100	1,161,500	1,070,000	990,700	1,047,200	1,068,900	1,034,600	1,020,000	999,300
COST OF SALES:
New vehicle
785,700	994,700	948,300	926,900	833,900	978,500	938,400	888,100	818,500	917,500	840,600	841,900	792,100	888,200	893,400	849,500	793,700	881,300	911,700	875,600	780,900	799,900	772,100	779,700	680,600	735,300	713,400	698,400	623,800	668,800	630,500	606,100	536,400	516,100	512,100	529,600	530,500	528,400	512,600
Used vehicle
462,500	509,900	514,500	497,700	475,400	444,100	464,700	482,800	451,100	411,000	426,800	446,500	427,900	441,400	446,600	436,000	425,100	428,300	459,600	473,900	438,100	393,200	425,800	411,900	382,900	353,300	391,200	364,600	335,000	296,700	307,100	305,000	288,700	255,600	294,300	288,600	269,600	261,000	255,800
Parts and service
86,700	87,800	86,100	83,900	82,300	79,800	76,300	74,900	74,200	74,000	74,400	76,300	71,600	72,300	77,400	74,300	71,200	70,500	72,400	68,800	66,400	65,300	63,100	63,900	62,100	63,200	60,400	60,000	60,300	60,400	59,300	58,600	60,400	54,300	61,900	64,400	64,100	63,800	64,500
TOTAL COST OF SALES
1,334,900	1,592,400	1,548,900	1,508,500	1,391,600	1,502,400	1,479,400	1,445,800	1,343,800	1,402,500	1,341,800	1,364,700	1,291,600	1,401,900	1,417,400	1,359,800	1,290,000	1,380,100	1,443,700	1,418,300	1,285,400	1,258,400	1,261,000	1,255,500	1,125,600	1,151,800	1,165,000	1,123,000	1,019,100	1,025,900	996,900	969,700	885,500	826,000	868,300	882,600	864,200	853,200	832,900
GROSS PROFIT
272,400	301,600	293,100	295,000	279,200	281,800	278,000	277,800	265,400	268,400	260,300	267,100	260,100	264,600	265,700	267,600	260,800	260,400	272,700	271,300	256,400	244,600	244,600	247,900	230,100	222,100	225,300	222,300	206,300	193,300	194,200	191,800	184,500	164,700	178,900	186,300	170,400	166,800	166,400
OPERATING EXPENSES:
Selling, general, and administrative
194,700	206,100	202,000	200,700	191,000	192,200	188,800	190,600	184,200	180,500	182,500	185,600	181,100	183,300	185,700	182,300	181,200	183,500	188,800	181,900	175,700	171,100	171,500	169,200	159,800	157,000	159,200	153,900	147,700	139,000	140,000	138,500	137,400	120,600	137,900	140,500	132,600	129,300	127,200
Depreciation and amortization
9,500	9,500	9,100	9,000	8,600	8,500	8,500	8,500	8,200	8,100	8,100	8,000	7,900	7,700	7,800	7,700	7,500	7,500	7,500	7,200	7,300	7,000	6,700	6,400	6,300	6,300	6,200	5,900	5,900	5,700	5,500	5,700	5,700	5,700	5,800	5,700	5,300	5,200	5,200
Franchise rights impairment
23,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating expense, net
-10,200	200	200	600	-1,800	-100	100	900	200	-600	0	-1,900	1,200	6,500	-1,500	500	-3,200	300	200	0	-300	-800	-300	-100	200	-700	-1,900	-5,100	-100	-300	500	-600	0	-30,200	1,700	3,000	10,500	200	-600
INCOME FROM OPERATIONS
35,000	79,100	82,200	85,900	77,800	77,300	80,800	79,600	73,200	74,100	69,700	71,600	72,300	80,100	70,700	78,100	68,900	69,700	76,600	82,200	73,100	65,700	66,100	72,200	64,200	58,100	58,000	57,400	52,600	48,300	49,200	47,000	41,400	38,600	33,500	37,100	22,000	32,100	34,600
OTHER EXPENSES (INCOME):
Floor plan interest expense
7,000	8,200	9,000	10,500	10,200	9,500	8,400	8,000	6,600	5,500	5,800	6,100	5,300	4,900	5,000	5,000	4,400	4,100	4,100	4,000	3,900	3,100	3,000	3,300	3,000	3,400	2,900	3,100	3,100	3,100	2,900	2,900	2,700	2,400	2,000	2,200	2,700	2,200	2,200
Other interest expense, net
17,000	13,700	13,700	13,600	13,900	13,700	13,200	13,200	13,000	13,800	13,400	13,400	13,300	13,100	13,200	13,400	13,400	12,500	10,700	10,500	10,300	10,700	9,600	9,500	9,100	9,200	11,100	9,500	9,200	9,000	8,700	8,700	9,200	8,900	9,900	10,400	10,400	8,900	9,000
Swap interest expense
-	-	0	0	-	0	100	200	200	400	400	600	600	700	800	800	800	1,000	1,000	500	500	500	500	400	600	300	100	900	1,200	1,200	1,300	1,200	1,300	1,300	1,400	1,400	1,400	1,700	1,600
Convertible debt discount amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	100	200	100	200	100	300	200	300	400
Gain (Loss) on Extinguishment of Debt
-20,600	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,800	-	-	-	0	-	-	-	-400	-	-	-1,300	-
Gain on divestitures
33,700	0	0	11,700	0	-	0	0	-	-	-	-	-	-	-	-	-	-	21,400	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total other expenses, net
-10,900	-21,900	-22,700	-12,400	-24,100	-23,200	-21,700	-21,400	-19,800	-19,700	-19,600	-20,100	-19,200	26,800	-19,000	-19,200	-18,600	-4,100	5,600	-15,000	-14,700	-46,200	-13,100	-13,200	-12,700	-12,900	-20,900	-13,500	-13,500	-13,300	-13,000	-13,000	-13,300	-13,200	-13,800	-14,300	-14,700	-14,400	-13,200
INCOME BEFORE INCOME TAXES
24,100	57,200	59,500	73,500	53,700	54,100	59,100	58,200	53,400	54,400	50,100	51,500	53,100	106,900	51,700	58,900	50,300	65,600	82,200	67,200	58,400	19,500	53,000	59,000	51,500	45,200	37,100	43,900	39,100	35,000	36,200	34,000	28,100	25,400	19,700	22,800	7,300	17,700	21,400
Income tax expense
4,600	13,600	14,500	18,600	12,800	13,700	14,800	15,000	13,300	11,900	19,400	19,600	19,100	39,800	19,300	22,300	19,200	24,400	31,000	26,100	22,500	7,600	20,600	22,800	20,000	18,000	14,300	16,700	15,200	12,400	13,600	13,100	10,900	9,700	7,400	8,800	2,800	6,900	8,300
INCOME FROM CONTINUING OPERATIONS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36,600	31,100	41,200	51,200	41,100	35,900	11,900	32,400	36,200	31,500	27,200	22,800	27,200	23,900	22,600	22,600	20,900	17,200	15,700	12,300	14,000	4,500	10,800	13,100
Discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	-100	-100	-100	0	0	-100	100	-300	-100	-300	-100	-200	8,600	200	-1,900	200	400	5,800	0	200	15,400	1,700	-300
Net Income (Loss) Attributable to Parent
19,500	43,600	45,000	54,900	40,900	40,400	44,300	43,200	40,100	42,500	30,700	31,900	34,000	67,100	32,400	36,700	31,000	41,100	51,100	41,100	35,900	11,800	32,500	35,900	31,400	26,900	22,700	27,000	32,500	22,800	20,700	21,100	17,600	21,500	12,300	14,200	19,900	12,500	12,800
EARNINGS PER SHARE:
Basic—
Continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.66	1.28	1.62	1.98	1.53	1.31	0.43	1.09	1.19	1.04	0.90	0.74	0.88	0.77	0.73	0.73	0.67	0.55	0.49	0.39	0.44	0.14	0.33	0.41
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	-0.01	0.00	0.00	0.00	0.00	-0.01	-0.01	-0.02	0.00	0.00	0.28	-0.01	-0.06	0.01	0.02	0.21	0.00	0.00	0.47	0.06	-0.01
Net income (in dollars per share)
1.02	2.29	2.36	2.87	2.13	2.06	2.22	2.13	1.95	2.05	1.49	1.53	1.62	3.02	1.47	1.66	1.28	1.62	1.97	1.53	1.31	0.43	1.09	1.18	1.03	0.88	0.74	0.88	1.05	0.72	0.67	0.68	0.57	0.70	0.39	0.44	0.61	0.39	0.40
Diluted—
Continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.65	1.27	1.64	1.96	1.52	1.30	0.42	1.08	1.19	1.03	0.88	0.73	0.87	0.77	0.72	0.72	0.66	0.54	0.49	0.38	0.43	0.13	0.33	0.40
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	-0.01	0.00	0.00	0.00	0.01	0.00	-0.01	-0.01	-0.01	0.00	0.00	0.27	0.00	-0.06	0.01	0.02	0.19	0.00	0.00	0.46	0.05	-0.01
Net income (in dollars per share)
1.01	2.27	2.33	2.84	2.11	2.06	2.18	2.11	1.93	2.01	1.48	1.52	1.61	3.01	1.47	1.65	1.27	1.63	1.96	1.52	1.30	0.43	1.08	1.18	1.02	0.87	0.73	0.87	1.04	0.72	0.66	0.67	0.56	0.68	0.38	0.43	0.59	0.38	0.39
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic (in shares)
19,100	19,000	19,100	19,100	19,200	19,500	20,000	20,300	20,600	20,800	20,600	20,800	21,000	21,600	22,000	22,100	24,300	25,000	25,900	26,800	27,500	29,100	29,800	30,300	30,400	30,400	30,700	30,800	30,900	31,100	31,100	31,100	31,100	31,000	31,700	32,100	32,400	32,300	32,200
Stock options (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	100	200	300	500	600	600	700	500	500
Restricted stock (in shares)
100	100	100	100	100	100	100	100	100	200	100	100	0	0	0	0	0	-300	100	100	100	0	100	100	200	200	200	200	200	-100	200	100	200	0	100	100	200	200	200
Performance share units (in shares)
100	100	100	100	100	0	200	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100	400	200	100	100	100	100	100	100	-100	100	100	300	100	100
Diluted (in shares)
19,300	19,200	19,300	19,300	19,400	19,600	20,300	20,500	20,800	21,100	20,800	21,000	21,100	21,700	22,100	22,200	24,400	24,800	26,100	27,000	27,700	29,200	30,000	30,500	30,700	31,000	31,100	31,100	31,200	31,300	31,500	31,500	31,700	31,400	32,500	32,900	33,600	33,100	33,000