ATLANTA (AP) 鈥� ATLANTA (AP) 鈥� Asbury Automotive Group Inc. (ABG) on Tuesday reported first-quarter profit of $187.8 million.
The Atlanta-based company said it had net income of $9.87 per share. Earnings, adjusted for non-recurring gains, were $5.37 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $5.68 per share.
The auto dealership chain posted revenue of $4.11 billion in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $4.39 billion.
Asbury Automotive shares have fallen 14% since the beginning of the year. The stock has declined 11% in the last 12 months.
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