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Asbury Automotive Group Inc (ABG) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Asbury Automotive Group Inc

CIK: 1144980 Ticker: ABG


Exhibit 99.1

Investors & Reporters May Contact:
Matt Pettoni
VP & Treasurer
(770) 418-8219
ir@asburyauto.com


 
 ASBURY AUTOMOTIVE GROUP ANNOUNCES RECORD
2015 FOURTH QUARTER AND FULL-YEAR FINANCIAL RESULTS


Record fourth quarter adjusted EPS from continuing operations of $1.31 per diluted share, up 22% over adjusted prior year quarter
Record full year adjusted EPS from continuing operations of $5.57 per diluted share, up 27% over adjusted prior year
 
Duluth, GA, February 4, 2016 - Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., today reported adjusted income from continuing operations for the fourth quarter 2015 of $32.8 million, or $1.31 per diluted share, versus adjusted income from continuing operations in the fourth quarter 2014 of $31.4 million, or $1.07 per diluted share, a 22% increase per diluted share. The fourth quarter of 2015 benefited from a favorable tax rate of 37.2% versus 39.0% during the fourth quarter of 2014. Income from continuing operations for the fourth quarter 2015 included a $13.5 million pre-tax gain on divestitures, or $0.34 per diluted share. Income from continuing operations for the fourth quarter 2014 included a $31.9 million pre-tax loss on extinguishment of long-term debt, or $0.66 per diluted share. Net income for the fourth quarter 2015 was $41.1 million, or $1.64 per diluted share, compared to $11.8 million, or $0.40 per diluted share in the prior year period. See attached reconciliation for reported adjustments related to both of these periods.
Fourth Quarter 2015 Operational Highlights (compared to the prior year period):

Total revenues increased 9% to $1.6 billion
New vehicle revenue up 9%; gross profit down 3%
Used vehicle retail revenue up 9%; gross profit was flat
Finance and insurance revenue up 13%
Parts and service revenue up 8%; gross profit up 9%

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The following information was filed by Asbury Automotive Group Inc (ABG) on Thursday, February 4, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Condensed Consolidated Statements Of Cash Flows
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Shareholders??? Equity
Consolidated Statements Of Shareholders??? Equity (parenthetical)
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (details)
Accounts Payable And Accrued Liabilities (tables)
Accounts Receivable
Accounts Receivable (details)
Accounts Receivable Accounts Receivable (tables)
Acquisitions And Divestitures
Acquisitions And Divestitures (acquisitions- Narrative) (details)
Acquisitions And Divestitures (divestitures- Narrative) (details)
Acquisitions And Divestitures (schedule Of Business Acquisitions) (details)
Acquisitions And Divestitures (tables)
Assets Held For Sale
Assets Held For Sale (narrative) (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Condensed Quarterly Revenues And Earnings (unaudited)
Condensed Quarterly Revenues And Earnings (unaudited) (details)
Condensed Quarterly Revenues And Earnings (unaudited) (tables)
Description Of Business
Description Of Business (details)
Financial Instruments And Fair Value
Financial Instruments And Fair Value (schedule Of Derivative Instruments Effect On The Consolidated Income Statement, Including Accumulated Other Comprehensive Income) (details)
Financial Instruments And Fair Value (schedule Of Fair Value Of Interest Rate Swaps) (details)
Financial Instruments And Fair Value (summary Of Carrying Values And Fair Values Of Debt) (details)
Financial Instruments And Fair Value Financial Instruments And Fair Value (narrative) (details)
Financial Instruments And Fair Value Financial Instruments And Fair Value (tables)
Floor Plan Notes Payable
Floor Plan Notes Payable (details)
Goodwill And Intangible Franchise Rights
Goodwill And Intangible Franchise Rights (goodwill) (details)
Goodwill And Intangible Franchise Rights (tables)
Goodwill And Intangible Franchise Rights Goodwill And Intangible Franchise Rights (franchise Rights) (details)
Income Taxes
Income Taxes (narrative) (details)
Income Taxes (schedule Of Components Of Income Tax Expense) (details)
Income Taxes (schedule Of Deferred Income Tax Assets And Liabilities) (details)
Income Taxes (schedule Of Effective Income Tax Rate Reconciliation) (details)
Income Taxes (tables)
Inventories
Inventories (details)
Inventories (tables)
Lease Obligations
Lease Obligations (narrative) (details)
Lease Obligations (schedule Of Minimum Lease Payments) (details)
Lease Obligations (tables)
Long-term Debt
Long-term Debt (narrative) (details)
Long-term Debt (schedule Of Aggregate Maturities Of Long-term Debt) (details)
Long-term Debt (schedule Of Long-term Debt) (details)
Long-term Debt (schedule Of Mortgage Notes Payable) (details)
Long-term Debt (tables)
Other Current Assets
Other Current Assets (details)
Other Current Assets (tables)
Other Long-term Liabilities
Other Long-term Liabilities (details)
Other Long-term Liabilities (tables)
Property And Equipment, Net
Property And Equipment, Net (narrative) (details)
Property And Equipment, Net (schedule Of Property And Equipment, Net) (details)
Property And Equipment, Net (tables)
Share-based Compensation And Employee Benefit Plans
Share-based Compensation And Employee Benefit Plans (employee Benefit Plans) (details)
Share-based Compensation And Employee Benefit Plans (schedule Of Performance Share Units) (details)
Share-based Compensation And Employee Benefit Plans (schedule Of Restricted Stock) (details)
Share-based Compensation And Employee Benefit Plans (share-based Compensation) (details)
Share-based Compensation And Employee Benefit Plans (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (schedule Of Property And Equipment Useful Lives) (details)
Summary Of Significant Accounting Policies (schedule Of Revenues By Major Brand) (details)
Summary Of Significant Accounting Policies (tables)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (schedule Of Other Adjustments To Reconcile Net Income To Cash Flow From Operating Activities) (details) (details)
Supplemental Cash Flow Information (tables)
Ticker: ABG
CIK: 1144980
Form Type: 10-K Annual Report
Accession Number: 0001144980-16-000161
Submitted to the SEC: Fri Feb 19 2016 5:25:57 PM EST
Accepted by the SEC: Fri Feb 19 2016
Period: Thursday, December 31, 2015
Industry: Retail Auto Dealers And Gasoline Stations

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