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Asbury Automotive Q3 profit falls 12.0% YOY

Asbury Automotive Group Inc. said its normalized net income for the third quarter was $1.51 per share, compared with the S&P Capital IQ consensus estimate of $1.60 per share.

EPS climbed year over year from $1.46.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $33.4 million, a decrease of 12.0% from $38.0 million in the year-earlier period.

The normalized profit margin dropped to 1.9% from 2.2% in the year-earlier period.

Total revenue fell year over year to $1.68 billion from $1.72 billion, and total operating expenses declined from the prior-year period to $1.61 billion from $1.64 billion.

Reported net income decreased 36.5% year over year to $32.5 million, or $1.47 per share, from $51.2 million, or $1.96 per share.