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EX - 99.1 2 a2021q2ex991.htm EXHIBIT 99.1 - PRESS RELEASE ASBURY AUTOMOTIVE GROUP clicklane Investors & Reporters May Contact : Karen Reid ASBURY AUTOMOTIVE GROUP ANNOUNCES RECORD SECOND QUARTER 2021 FINANCIAL RESULTS Second quarter EPS of $ 7.80 per diluted share , up 204 % over prior year EPS Exhibit 99.1 Second quarter revenue increased 79 % and gross profit increased 105 % over prior year quarter VP & Treasurer ( 770 ) 418-8211 ir@asburyauto.com Second quarter adjusted EPS of $ 7.78 per diluted share ( a non - GAAP measure ) , up 209 % over prior year adjusted EPS DULUTH , GA , July 27 , 2021- Asbury Automotive Group , Inc. ( NYSE : ABG ) , one of the largest automotive retail and service companies in the U.S. , reported record net income for the second quarter 2021 of $ 152.1 million ( $ 7.80 per diluted share ) . This compares to net income of $ 49.6 million ( $ 2.57 per diluted share ) in the prior year quarter . The financial measures discussed below include both GAAP and adjusted ( non - GAAP ) financial measures . Please see reconciliations for our non - GAAP metrics included in the accompanying financial tables . " This quarter , new inventory supply continued to be unpredictable , but our teams met the challenge and performed at record levels in revenue , volume , margins , net income , and EPS . In addition to this record performance , our online car buying platform , Clicklane , now fully active across all of our dealerships for the entire quarter , is exceeding our expectations , with its growth trajectory ahead of target , " said David Hult , Asbury's President and Chief Executive Officer . " We are tracking well to achieve our strategic five - year plan . " The Company reported adjusted net income ( a non - GAAP measure ) for the second quarter 2021 of $ 151.7 million ( $ 7.78 per diluted share ) compared to $ 48.7 million ( $ 2.52 per diluted share ) in the prior year quarter . 1 Net income for the second quarter 2021 was adjusted for real estate net gains of $ 0.5 million ( $ 0.02 per diluted share ) . Net income for the second quarter 2020 was adjusted for a $ 1.2 million ( $ 0.05 per diluted share ) legal settlement gain .