Strong Revenue Growth and Profit Margins
Asbury Automotive Group generated $4.4 billion in revenue, with a gross profit of $752 million and a gross profit margin of 17.2%, along with an adjusted operating margin of 5.8% and an adjusted EBITDA of $256 million.
New and Used Vehicle Performance
Same-store new vehicle revenue was up 9% year-over-year with units up 7%, while used vehicle profitability remained strong despite a 4% decrease in unit volume.
Parts and Service Business Growth
Same-store gross profit for parts and service was up 7%, with a gross profit margin of 59.2% and a fixed absorption rate over 100%.
Herb Chambers Acquisition
Successfully closed on the acquisition of Herb Chambers Automotive Group, which had a full-year 2024 adjusted EBITDA of $176.8 million. The acquisition is expected to enhance Asbury's presence in New England.
Operational Efficiency
Same store adjusted SG&A as a percentage of gross profit was 63.2%, an improvement of over 100 basis points from the second quarter of 2024.