Asbury Automotive Group, Inc. (NYSE: ABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported second quarter 2025 net income of $153 million ($7.76 per diluted share), an increase of 443% from $28 million ($1.39 per diluted share) in second quarter 2024. The Company reported second quarter 2025 adjusted net income, a non-GAAP measure, of $146 million ($7.43 per diluted share), an increase of 13% from $129 million ($6.40 per diluted share) in second quarter 2024.

“I commend our team members for their sustained focus on growth, profitability and cost discipline," said David Hult, Asbury’s President and Chief Executive Officer. "This year, we have taken strategic steps to optimize our portfolio in order to position ourselves for continued, long-term operational success. This July, we welcomed The Herb Chambers Automotive Group to Asbury and we look forward to entering a new region of the country with a flagship group of operators and stores.”

The financial measures discussed below include both GAAP and adjusted (non-GAAP) financial measures. Please see “Non-GAAP Financial Disclosure and Reconciliation, Same Store Data and Other Data” and the reconciliations for non-GAAP metrics used herein.

Adjusted net income for second quarter 2025 excludes, net of tax, $4 million of cyber insurance recovery proceeds ($0.19 per diluted share), $4 million related to gain on divestitures ($0.23 per diluted share) and $2 million of professional fees related to the acquisition of The Herb Chambers Automotive Group ($0.09 per diluted share).

Adjusted net income for second quarter 2024 excludes, net of tax, $101 million of non-cash asset impairments ($5.02 per diluted share), gain on divestitures of $3 million ($0.13 per diluted share), and losses related to hail damage of $2 million ($0.11 per diluted share).

Second Quarter 2025 Operational Summary

Total Company vs. 2^nd Quarter 2024:

• Revenue of $4.4 billion, increase of 3%

• Gross profit of $752 million, increase of 3%

• Gross margin decreased 1 bps to 17.2%

• New vehicle unit volume increase of 4%; new vehicle revenue increase of 6%; new vehicle gross profit increase of 3%

• Used vehicle retail unit volume decrease of 6%; used vehicle retail revenue decrease of 3%; used vehicle retail gross profit increase of 11%

• Finance and insurance (F&I) per vehicle retailed (PVR) of $2,084, decrease of 3%

• Parts and service revenue increase of 4%; gross profit increase of 4%

• Selling, General and Administrative expenses (SG&A) as a percentage of gross profit of 63.2%, a 198 basis point reduction versus prior year

• Adjusted SG&A as a percentage of gross profit of 63.6%, a 119 basis point reduction versus prior year

• Operating margin of 5.9%

• Adjusted operating margin of 5.8%

Same Store vs. 2^nd Quarter 2024:

• Revenue of $4.3 billion, increase of 5%

• Gross profit of $742 million, increase of 4%

• Gross margin decreased 9 bps to 17.2%

• New vehicle unit volume increase of 7%; new vehicle revenue increase of 9%; new vehicle gross profit increase of 4%

• Used vehicle retail unit volume decrease of 4%; used vehicle retail revenue decrease of 1%; used vehicle retail gross profit increase of 11%

• F&I PVR of $2,096, decrease of 4%

• Parts and service revenue increase of 6%; gross profit increase of 7%

• SG&A as a percentage of gross profit of 62.9%, a 183 basis point reduction versus prior year

• Adjusted SG&A as a percentage of gross profit of 63.2%, a 103 basis point reduction versus prior year

• Operating margin of 6.0%

• Adjusted operating margin of 5.9%

Liquidity and Leverage

As of June 30, 2025, the Company had cash and floorplan offset accounts of $318 million (which excludes $34 million of cash at Total Care Auto, Powered by Landcar) and availability under the used vehicle floorplan line and revolver of $798 million for a total of $1.1 billion in liquidity. The Company’s transaction adjusted net leverage ratio, which is calculated as set forth in our credit facility, was 2.46x at quarter end.

Earnings Call

Additional commentary regarding the second quarter results will be provided during the earnings conference call on Tuesday, July 29, 2025, at 10:00 a.m. ET.

The conference call will be simulcast live on the internet. The webcast, together with supplemental materials, and can be accessed by logging onto https://investors.asburyauto.com. A replay and the accompanying materials will be available on this site for at least 30 days.

In addition, live audio will be accessible to the public. Participants may enter the conference call five to ten minutes prior to the scheduled start of the call by dialing: