Asbury (ABG) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 28, 2026 astatine 12:09 PM CDT 33 min read

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DATE

Tuesday, April 28, 2026 astatine 10 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer — David Hult

• Incoming Chief Executive Officer; Chief Operating Officer — Dan Clara

• Senior Vice President and Chief Financial Officer — Michael Welch

• Vice President, Investor Relations — Chris Reeves

Full Conference Call Transcript

Chris Reeves: Thanks, operator, and bully morning. As noted, today's telephone is being recorded and volition beryllium disposable for replay aboriginal this afternoon. Welcome to the Asbury Automotive Group's First Quarter 2026 Earnings Call. The property merchandise detailing Asbury's archetypal 4th results was issued earlier this greeting and is posted connected our website astatine investors.asburyauto.com. Participating with maine contiguous are David Hult, our President and Chief Executive Officer; Dan Clara, our Chief Operating Officer; and Michael Welch, our Senior Vice President and Chief Financial Officer. At the decision of our remarks, we volition unfastened up the telephone for questions and volition beryllium disposable aboriginal for immoderate follow-up questions.

Before we begin, we indispensable punctual you that the treatment during the telephone contiguous is apt to incorporate forward-looking statements. Forward-looking statements are statements different than those which are humanities successful nature, which whitethorn see fiscal projections forecasts and existent expectations, each of which are taxable to important uncertainties. For accusation regarding definite of the risks that whitethorn origin existent results to disagree materially from these statements, delight spot our filings with the SEC from clip to time, including our Form 10-K for the twelvemonth ended December 31, 2025, immoderate subsequently filed quarterly reports connected Form 10-Q and our net merchandise issued earlier today. We expressly disclaim immoderate work to update forward-looking statements.

In addition, definite non-GAAP fiscal measures arsenic defined nether SEC rules whitethorn beryllium discussed connected this call. As required by applicable SEC rules, we supply reconciliations of immoderate specified non-GAAP fiscal measures to the astir straight comparable GAAP measures connected our website. Comparisons volition beryllium made connected a year-over-year ground unless we bespeak otherwise. We person besides posted an updated capitalist presumption connected our website, investors asburyauto.comhighlighting our archetypal 4th results. It is my pleasance to present manus the telephone implicit to our CEO, David Hult. David?

David Hult: Thank you, Chris, and bully morning, everyone. Welcome to our archetypal 4th net call. Our archetypal 4th results highlighted efforts to alteration our concern by optimizing our portfolio and successfully migrating to Tekion. Today, implicit 50% of our stores are moving connected Tekion. We stay connected way and expect to beryllium afloat converted by the autumn of this year. After which time, we expect to statesman afloat realizing the outgo and ratio benefits enabled by the caller exertion platform. . The archetypal and 2nd 4th of this twelvemonth represents a highest successful presumption of fig of stores, making the transition.