Asbury Automotive Group, Inc., one of the largest automotive retail and service companies in the U.S., today reported income from continuing operations for the second quarter 2015 of $41.1 million, or $1.52 per diluted share, versus income from continuing operations in the second quarter 2014 of $36.2 million, or $1.19 per diluted share, a 28% increase per diluted share.  Net income for the second quarter 2015 was $41.1 million, or $1.52 per diluted share, compared to $35.9 million, or $1.18 per diluted share in the prior year period.

Second Quarter 2015 Operational Highlights (compared to the prior year period):

• Total revenues increased 12% to $1.7 billion
• New vehicle retail revenues up 11% 
• Used vehicle retail revenues up 15% 
• Finance and insurance revenues up 16% 
• Parts and service gross profit up 14% 
• Total gross profit up 9% 
• SG&A expense as a percent of gross profit improved 130 basis points to 67.0% 
• Operating income up 14% 
• Operating margin improved 10 basis points to 4.9%

Second Quarter 2015 Strategic Highlights:

• Acquired a Ford store in Jacksonville, Florida with approximately $90 million of annualized revenues 
• Acquired a Nissan store in Atlanta, Georgia with approximately $70 million of annualized revenues 
• Repurchased $54 million of common stock during Q2 2015

"Asbury is pleased to announce another record second quarter EPS from continuing operations," said Craig Monaghan, Asbury's President and Chief Executive Officer. "These results were delivered through continued operational excellence, recent high-quality acquisitions and our on-going share repurchase program."

"Our current quarter results demonstrate, once again, the strength and diversity of our business model," said Asbury's Executive Vice President and Chief Operating Officer, David Hult. "We increased revenue 12%, increased gross profit 9%, and controlled our costs to deliver an operating margin of 4.9%."

The conference call will be simulcast live on the Internet and can be accessed by logging onto www.asburyauto.com or www.ccbn.com.  A replay will be available at these sites for 30 days.  In addition, a live audio of the call will be accessible to the public by calling (888) 523-1228 (domestic), or (719) 325-2281 (international); passcode - 2023700.  Callers should dial in approximately 5 to 10 minutes before the call begins. A conference call replay will be available two hours following the call for seven days, and can be accessed by calling (888) 203-1112 (domestic), or (719) 457-0820 (international); passcode - 2023700.