--- title: "Asbury Automotive | 10-K: FY2025 Revenue Misses Estimate at USD 18 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/276489815.md" datetime: "2026-02-20T21:58:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276489815.md) - [en](https://longbridge.com/en/news/276489815.md) - [zh-HK](https://longbridge.com/zh-HK/news/276489815.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/276489815.md) | [繁體中文](https://longbridge.com/zh-HK/news/276489815.md) # Asbury Automotive | 10-K: FY2025 Revenue Misses Estimate at USD 18 B Revenue: As of FY2025, the actual value is USD 18 B, missing the estimate of USD 18.19 B. EBIT: As of FY2025, the actual value is USD 1.048 B. ### Consolidated Financial Performance Asbury Automotive Group, Inc.’s total revenue for the year ended December 31, 2025, increased by 5% to $18.00 billion, up from $17.19 billion in 2024, primarily driven by the Herb Chambers acquisition and growth in parts and services gross profit, partially offset by lower new vehicle gross profit per vehicle sold . Consolidated gross profit also rose by 4% to $3.07 billion in 2025, compared to $2.95 billion in 2024 . Income from operations saw a 3% increase, reaching $860.6 million in 2025 from $835.6 million in 2024 . Net income grew by 14% to $492.0 million in 2025, compared to $430.3 million in 2024 . Selling, General and Administrative (SG&A) expenses increased by 5% to $1,987.6 million in 2025 from $1,888.5 million in 2024 . Depreciation and amortization expenses increased by 10% to $82.4 million in 2025 from $75.0 million in 2024 . Asset impairment charges were $141.0 million in 2025, a -6% decrease from $149.5 million in 2024 . Total other expenses, net, decreased by -24% to $198.4 million in 2025 from $260.3 million in 2024 . #### Dealerships Segment ##### Revenue Categories - **New Vehicle Revenue**: Increased by 7% to $9,496.2 million in 2025 from $8,849.7 million in 2024 . - Luxury new vehicle revenue increased by 15% to $3,041.5 million in 2025 from $2,654.8 million in 2024 . - Import new vehicle revenue increased by 5% to $3,800.6 million in 2025 from $3,623.5 million in 2024 . - Domestic new vehicle revenue increased by 3% to $2,654.0 million in 2025 from $2,571.5 million in 2024 . - **Used Vehicle Revenue**: Increased to $5,225.4 million in 2025 from $5,218.2 million in 2024 . - Used vehicle retail revenue decreased by -1% to $4,549.6 million in 2025 from $4,605.9 million in 2024 . - Used vehicle wholesale revenue increased by 10% to $675.7 million in 2025 from $612.3 million in 2024 . - **Parts and Service Revenue**: Increased by 6% to $2,506.8 million in 2025 from $2,354.7 million in 2024 . - Customer pay revenue increased by 8% to $781.6 million . - Warranty revenue increased by 19% to $226.4 million . - Collision revenue decreased by -2% to $126.4 million . - Wholesale parts revenue remained stable at $77.5 million . - **Finance and Insurance, net revenue**: Increased by 1% to $770.6 million in 2025 from $766.0 million in 2024 . ##### Gross Profit Categories - **New Vehicle Gross Profit**: Decreased by -3% to $621.9 million in 2025 from $640.4 million in 2024 . - Luxury new vehicle gross profit increased by 8% to $278.1 million . - Import new vehicle gross profit decreased by -9% to $215.8 million . - Domestic new vehicle gross profit decreased by -11% to $128.0 million . - **Used Vehicle Gross Profit**: Increased by 6% to $259.1 million in 2025 from $245.4 million in 2024 . - Used vehicle retail gross profit increased by 5% to $239.4 million . - Used vehicle wholesale gross profit increased by 17% to $19.7 million . - **Parts and Service Gross Profit**: Increased by 9% to $1,472.5 million in 2025 from $1,351.2 million in 2024 . - Customer pay gross profit increased by 10% to $781.6 million . - Warranty gross profit increased by 21% to $226.4 million . - Collision gross profit decreased by -2% to $126.4 million . - Wholesale parts gross profit remained stable at $77.5 million . - **Finance and Insurance, net gross profit**: Increased by 1% to $718.1 million in 2025 from $711.6 million in 2024 . ##### Operational Metrics - **New Vehicle Units Sold**: Increased by 5% to 181,204 units in 2025 from 173,218 units in 2024 . - **Revenue per New Vehicle Sold**: Increased by 3% to $52,406 in 2025 from $51,090 in 2024 . - **Gross Profit per New Vehicle Sold**: Decreased by -7% to $3,432 in 2025 from $3,697 in 2024 . - **New Vehicle Gross Margin**: Decreased to 6.5% in 2025 from 7.2% in 2024 . - **Used Vehicle Retail Units Sold**: Decreased by -5% to 143,126 units in 2025 from 150,698 units in 2024 . - **Revenue per Used Vehicle Retailed**: Increased by 4% to $31,788 in 2025 from $30,564 in 2024 . - **Gross Profit per Used Vehicle Retailed**: Increased by 10% to $1,672 in 2025 from $1,517 in 2024 . - **Used Vehicle Retail Gross Margin**: Increased to 5.3% in 2025 from 5.0% in 2024 . - **Parts and Service Gross Margin**: Increased to 58.7% in 2025 from 57.4% in 2024 . - **F&I net per vehicle sold**: Increased by 1% to $2,214 in 2025 from $2,197 in 2024 . #### Total Care Auto (TCA) Segment - **Finance and Insurance Revenue**: Decreased by -24% to $91.1 million in 2025 from $120.6 million in 2024, primarily consisting of earned premiums and $20.7 million from the investment portfolio in 2025 . - **Finance and Insurance Cost of Sales**: Decreased by -3% to $52.5 million in 2025 from $54.4 million in 2024, primarily due to claims expense . - **Finance and Insurance Gross Profit**: Decreased by -42% to $38.6 million in 2025 from $66.2 million in 2024 . #### Cash Flow and Financial Position - **Adjusted Cash Flow from Operating Activities**: Decreased to $651.4 million in 2025 from $688.4 million in 2024 . - **Net Cash Used in Investing Activities**: Totaled -$1.46 billion in 2025, compared to -$137.2 million in 2024 . This includes capital expenditures of $186.0 million (excluding real estate) and $19.3 million for real estate purchases in 2025 . The Herb Chambers acquisition contributed -$1.76 billion to investing activities . Proceeds from dealership divestitures were $566.5 million in 2025 . - **Net Cash Provided by Financing Activities**: Totaled $653.1 million in 2025, compared to -$510.3 million used in 2024 . - **Total Debt**: $3.59 billion as of December 31, 2025 . - **Floor Plan Notes Payable, net**: $2.03 billion as of December 31, 2025 . - **Transaction-Adjusted Net Leverage Ratio**: 3.2x as of December 31, 2025, compared to 2.9x as of December 31, 2024 . - **Share Repurchases**: Asbury Automotive Group, Inc. repurchased 432,752 shares for $99.9 million in 2025 . The company had $175.9 million remaining on its share repurchase authorization as of December 31, 2025 . - **Impact of Interest Rate Changes**: A 100 basis point increase in interest rates would increase annual interest expense by approximately $26.2 million based on variable interest rate debt as of December 31, 2025 . #### Outlook / Guidance \[Asbury 汽车集团\] expects capital expenditures for 2026 to be approximately $250.0 million, allocated towards facility upgrades, new constructions, service capacity expansion, and technology investments . The company anticipates completing the rollout of TCA’s service offerings to all dealerships by offering TCA products on the Herb Chambers platform in 2026 . However, there is no assurance that this rollout will be completed within the contemplated timeframe . ### Related Stocks - [Asbury Automotive Group, Inc. 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