Asbury Automotive Group: Initiation of Coverage – A Dive Into Its Core Business Strategy & 5 Pivotal Factors Driving Its Growth! 

This is our first report on Asbury Automotive Group Inc. The company’s fourth quarter 2023 earnings showcased a year of considerable growth and progress. The company delivered $14.8 billion in revenue, had a gross profit margin of 18.6%, and an adjusted earnings per share of $32.60. Asbury generated an adjusted operating margin of 7.3% and an adjusted EBITDA of over $1.1 billion. CFO Michael Welch announced that the company generated $705 million of adjusted operating cash flow and repurchased 1.3 million shares for $258 million.