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Asbury Automotive Announces Record Financial Results

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A Balancing Act with Finances

Feb. 16, 2022—Asbury Automotive has announced record financial results for Q4 and 2021. 

In a press release, the company announced it reported a record net income of $141 million in Q4, compared to $89 million in 2020 Q4. Among the boosts to the company in Q4 was the acquisition of Larry H. Miller Dealerships and Total Care Auto. Asbury operated 35 collision repair centers. 

“We established a coast-to-coast presence and built scale in several strategic high-growth markets through these acquisitions. More importantly, all of these dealerships share Asbury's vision of being the most guest-centric auto retailer in the country. While we acquired approximately $6.6 billion in annualized revenue, we still ended the year with a strong balance sheet with an adjusted net leverage ratio of 2.7x,” said David Hult, Asbury’s President and Chief Executive Officer. “We’ll be working together with our new team members to integrate these acquisitions over the next few quarters.

For the full year 2021, the company reported record net income of $532 million, a 101 percent increase from 2020. 

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