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Asbury Automotive Q1 profit climbs 14.4% YOY

Asbury Automotive Group Inc. said its first-quarter normalized net income came to $1.33 per share, compared with the S&P Capital IQ consensus estimate of $1.18 per share.

EPS rose 26.8% year over year from $1.05.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $36.8 million, a gain of 14.4% from $32.2 million in the year-earlier period.

The normalized profit margin dropped to 2.4% from 2.4% in the year-earlier period.

Total revenue increased 13.7% on an annual basis to $1.54 billion from $1.36 billion, and total operating expenses climbed 13.7% year over year to $1.47 billion from $1.29 billion.

Reported net income increased 13.9% year over year to $36.0 million, or $1.30 per share, from $31.6 million, or $1.03 per share.