Last $78.67 USD
Change Today -0.35 / -0.44%
Volume 213.2K
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As of 4:15 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

asbury automotive group (ABG) Key Developments

Asbury Automotive Group, Inc. Announces Executive Changes, Effective on March 13, 2015

On February 19, 2015, Asbury Automotive Group, Inc. announced that Mr. Michael J. Sawicki informed the company that he will be relocating out of state to be closer to his family, and therefore provided notice of his intention to resign as Vice President, Controller and Chief Accounting Officer of the company effective on March 13, 2015. Keith Style, the Company's Senior Vice President and Chief Financial Officer, will assume the responsibilities of principal accounting officer for the Company on an interim basis.

Asbury Automotive Group, Inc. Announces Executive Changes

On February 13, 2015, Asbury Automotive Group, Inc. was notified by Michael Kearney, the company's Executive Vice President, of his decision to resign from the company's Board of Directors effective March 31, 2015. The resignation was consistent with Mr. Kearney's previously disclosed plan to retire from all positions with the company by such date. Mr. Kearney has served on the Board since October 2012. In connection with Mr. Kearney's resignation from the Board and the previously disclosed decision by Board member Janet Clarke to not stand for re-election at the company's 2015 annual meeting of shareholders, the Board is reducing the size of the Board from 11 to 9 directors.

Asbury Automotive Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Asbury Automotive Group, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. The company reported adjusted income from continuing operations for the fourth quarter 2014 of $31.4 million, or $1.07 per diluted share, versus income from continuing operations in the fourth quarter 2013 of $27.2 million, or $0.88 per diluted share, a 22% increase per diluted share. Adjusted income from continuing operations for the fourth quarter of 2014 excludes the loss on extinguishment of long-term debt of $19.5 million after-tax, or $0.66 per diluted share. Net income for the fourth quarter of 2014 was $11.8 million, or $0.40 per diluted share, compared to $26.9 million, or $0.87 per diluted share in the prior year period. Total revenues were $1,503 million compared to $1,373.9 million a year ago. Income from operations was $65.7 million compared to $58.1 million a year ago. Income before income taxes was $19.5 million compared to $45.2 million a year ago. Income from continuing operations was $11.9 million or $0.41 per diluted share compared to $27.2 million or $0.88 per diluted share a year ago. For the full year 2014, the company reported adjusted income from continuing operations of $131.5 million, or $4.37 per diluted share, compared to adjusted income from continuing operations of $109.7 million, or $3.53 per diluted share in the prior year period. The company’s revenues for full-year 2014 totaled $5.9 billion, an increase of 10% compared to $5.3 billion in the prior year. Net income for the year ended December 31, 2014 was $111.6 million, or $3.71 per diluted share compared to $109.1 million, or $3.51 per diluted share, for the prior year. Total revenues were $5,867.7 million compared to $5,334.9 million a year ago. Income from operations was $268.2 million compared to $226.1 million a year ago. Income before income taxes was $183.0 million compared to $165.3 million a year ago. Income from continuing operations was $112 million or $3.72 per diluted share compared to $101.1 million or $3.25 per diluted share a year ago. Adjusted EBITDA was $282.2 million.

Janet Clarke Submits Resignation to its Board of Directors of Asbury Automotive Group, Inc

On January 27, 2015, Janet Clarke submitted a letter of her intent not to stand for re-election to the Board of Directors of Asbury Automotive Group, Inc. at the 2015 Annual Meeting of Shareholders. Ms. Clarke's decision not to stand for re-election is not due to any disagreements with the Company or any of its operations, policies or practices. She has served on the company's board since April 2005.

Asbury Automotive Group, Inc. to Report Q4, 2014 Results on Feb 04, 2015

Asbury Automotive Group, Inc. announced that they will report Q4, 2014 results at 9:00 AM, Eastern Standard Time on Feb 04, 2015

 

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