Asbury Automotive Group reported fourth quarter 2025 net income of $60 million, or $3.10 per diluted share, down 53% from $129 million, or $6.54 per diluted share, in the year-ago period. On an adjusted basis, which excludes non-cash asset impairments, divestiture gains and various implementation expenses, the company earned $129 million, or $6.67 per diluted share, a decline of 10% from $143 million, or $7.26 per diluted share, in Q4 2024. Key adjustments included $87 million of asset impairments, a $26 million net gain on four store divestitures, $5 million of Tekion transition costs and a $3 million write-off of fixed assets.

Total company revenue grew 4% year-over-year to $4.7 billion, while gross profit rose 6% to $793 million and gross margin widened by 31 basis points to 17.0%. Used vehicle retail gross profit surged 16%, supported by resilient margins on a 1% increase in revenue. Parts and service revenue climbed 12%, with gross profit up 13%. Finance and insurance income per retailed unit reached $2,334. Selling, general and administrative expenses represented 66.7% of gross profit, improving to 65.3% on an adjusted basis. Same-store revenue of $4.0 billion declined 6%, but same-store gross margin also expanded by 26 basis points to 17.0%.

For the full year 2025, Asbury delivered record revenue of $18.0 billion and net income of $492 million, or $25.13 per diluted share, up 17% on an EPS basis. Adjusted net income rose 3% to $550 million, or $28.10 per diluted share. Transaction-adjusted EBITDA reached $1.1 billion and adjusted operating cash flow totaled $651 million. As of December 31, the company held $180 million in cash and floorplan-offset accounts with $747 million of undrawn capacity on its revolver and floorplan lines, for total liquidity of $927 million. During Q4, Asbury repurchased approximately 212,000 shares for $50 million, bringing full-year buybacks to 433,000 shares for $100 million and leaving $176 million of authorization remaining.