Asbury Automotive Group Inc.’s fourth-quarter internet earnings fell, as particular features within the newest quarter have been a lot smaller than these of a yr earlier. Income was flat.
Internet earnings fell 37 % to $42.5 million, the corporate mentioned in a assertion Tuesday.
Internet was pushed down by a $5.1 million pretax loss for franchise rights impairments however lifted by a $7.9 million profit from the modified federal tax regulation. On stability, that meant particular features of about $2.eight million. In distinction, extraordinary features minus extraordinary losses within the fourth quarter of 2016 totaled $52.5 million.
Fourth-quarter income inched up zero.three % to $1.67 billion.
Asbury shares rose three.three % to shut at $67.75 on Wall Avenue.
Gross sales: New-vehicle gross sales elevated 1.7 % to 26,191.
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