As far as the results go, while the headlines said “profits fall,” when you really dig into the results, it was “much of the same” (of encouraging year over year operating trends) that we have seen out of Asbury.    

Specifically, income from continuing operations were $15.6 million, or $0.45 per diluted share, a modest increase from the $14.4 million, or $0.44 per diluted share reported last year in the fourth quarter.  But when you adjust for non-operational items and stock based compensation, comparable income from continuing operations were up 25%.  The best (year over year) earnings improvement so far to be reported out of the public dealers.    ...

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Related Companies: Asbury Auto