Asbury Automotive Group Q2 Profit Rises - Quick Facts

(RTTNews) - Asbury Automotive Group Inc. (ABG) reported that its second-quarter net income for the second quarter 2013 was $27.0 million, or $0.87 per share, up from $21.1 million, or $0.67 per share in the prior year period.

Adjusted income from continuing operations for the second quarter 2013 was $30.4 million, or $0.98 per share, versus income from continuing operations in the second quarter 2012 of $20.9 million, or $0.66 per share.

Adjusted net income from continuing operations for the second quarter 2013 excludes real estate-related charges, primarily resulting from the purchase of two previously leased properties, of $3.2 million, after tax, or $0.11 per diluted share. There were no adjustments in the second quarter 2012.

Total revenues for the quarter grew to $1.344 billion from $1.161 billion in the year ago quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share and revenues of $1.29 billion for the quarter. Analysts' estimates typically exclude special items.