Auto Dealership Buy/Sell Market Achieves New Transaction Record in 2023, Surpassing 2021 Peak; Valuations Remain at All Time Highs for Top Franchises in High Growth Markets [Yahoo! Finance...
Asbury Automotive Group Inc (ABG)
Last asbury automotive group inc earnings: 2/3 07:00 am
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Source: Yahoo! Finance
INCLINE VILLAGE, Nev., April 09, 2024 BUSINESS WIRE )--The auto dealership buy/sell market experienced a record year of buy/sell activity with 397 completed dealership transactions, up 6% compared to 2022, according to the just-released 2023 Blue Sky Report ® by Kerrigan Advisors. This activity included the third largest transaction in auto retail history – the sale of Kerrigan Advisors' client, Jim Koons Automotive Companies representing 20 dealerships and the addition of $3 billion of revenue to Asbury Automotive Group. Fueled by significant access to capital, auto retail defied the broader corporate mergers and acquisitions (M&A) market, which declined 30% in 2023. In 2023, 680 franchises were sold, an increase of 5.4% compared to 2022. "Despite negative headwinds of higher interest rates and declining profit margins, dealers continued to seek acquisitions, powered by their belief that scale is not only critical to future success, but essential to sustaining their businesses in
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ABG
News
- Asbury Automotive (ABG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
- Asbury Automotive Group Reports Record $4.2 Billion in RevenueBusiness Wire
- Asbury Automotive Announces Chief Legal Officer George Villasana to Retire [Yahoo! Finance]Yahoo! Finance
- Asbury Automotive Announces Chief Legal Officer George Villasana to RetireBusiness Wire
- Asbury Automotive Group Releases 2023 Corporate Responsibility Report [Yahoo! Finance]Yahoo! Finance
ABG
Earnings
- 4/25/24 - Miss
ABG
Sec Filings
- 4/26/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/19/24 - Form 8-K
- ABG's page on the SEC website