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Asbury Automotive Q2 profit climbs 13.9% YOY

Asbury Automotive Group Inc. said its normalized net income for the second quarter was $1.56 per share, compared with the S&P Capital IQ consensus estimate of $1.43 per share.

EPS rose 28.7% year over year from $1.21.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $42.0 million, an increase of 13.9% from $36.9 million in the prior-year period.

The normalized profit margin climbed to 2.5% from 2.5% in the year-earlier period.

Total revenue grew 12.4% year over year to $1.69 billion from $1.50 billion, and total operating expenses climbed 12.3% on an annual basis to $1.61 billion from $1.43 billion.

Reported net income increased 13.1% from the prior-year period to $41.0 million, or $1.52 per share, from $36.3 million, or $1.19 per share.