Public Event Detail
How Is Asbury Automotive Group (ABG) Able to Boost Its BuyBack Program?
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Event summary
Asbury Automotive Group (ABG) recently increased its share buyback program by $424 million, bringing the total authorization to $500 million. This move was made possible by $210 million in net proceeds from the sale of 10 dealership locations, which the company plans to use for debt reduction and share repurchases. Despite a recent price target cut by Stephens due to anticipated Q1 2026 EBITDA and EPS declines caused by adverse weather, analysts remain bullish on ABG's long-term outlook, with EPS projected to exceed $35 by 2028.