Asbury Automotive Group Inc · NYSE:ABG
Asbury Automotive — Q4 2025 Earnings Presentation
37 slides from Asbury Automotive's earnings presentation, Feb 5, 2026
Slide 1: Investor Relations Presentation 2025 Fourth Quarter
A B G | A s b u r y A u t o m o t i v e Investor Relations Presentation 2025 Fourth Quarter
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking inability to realize the benefits expected from state franchise laws and tariffs; our ability to statements" within the meaning of the Private recently completed transactions; our inability execute our strategic and operational S
Slide 3: We Are One Team: Team Members and Guests
Lak Pace NAtEy &» McDavid -CENTRIC Herb om “Yon, Chainbers CS ALarryH Miller o % itll s % € KOONS & % & ARAPAHOE Po Z 2 & Goggin KaHio | ASBU RY o ‘sHare WE ARE ONE = TEAM MEMBERS GUESTS STEVINSON TameOMCH ETC 9 oti profentionite CROWN em aeee eats ree toam membere thrive pereonally ‘our guests ond
Slide 4: Our Core Values
Do What You Say You're Going to Do We hold ourselves and others accountable, act with integrity, communicate with transparency, and are thorough in our approach. Raise the Bar We drive towards excellence, demonstrate professionalism, exceed expectations, and anticipate the needs of our guests. Inves
Slide 5: Agenda: February 5, 2026
Agenda: February 5, 2026 01 Company Highlights ……………………………………………………………………………………………………………………………….…………………………………………….. Page 6 02 4Q25 Review ……………………………………………………………………………………………………………………………….…………………………………………….. Page 11 03 Growth Strategy ……………………………………………………………………………………………………………………………….……………………………………………
Slide 6: Company Highlights
01 A B G | A s b u r y A u t o m o t i v e Company Highlights NYSE: ABG 6
Slide 7: Company Highlights: Asbury, Since 2019
Highlights 4Q & FY25 Growth Appendix Company Highlights Asbury, Since 2019(1) $37.66 • 150% increase in revenue; +16% CAGR $32.60 $27.29 $27.24 $28.10 • 196% increase in Adj EPS(2); +20% CAGR $18.0B $17.2B • 94% increase in new car dealerships $15.4B $14.8B $12.90 $9.46 Adj. EBITDA(2) Adj. Op. Cash
Slide 8: Company Profile
Highlights 4Q & FY25 Growth Appendix Company Profile $18 BILLION Total Revenue (1) 3 31 ID MA 2 324,330 RI New and Used Vehicles Retailed(1) 8 7 8 17 UT MD MD CO 6 IN 14 3.2x MO VA Transaction Adjusted Net Leverage(2,3) 13 6 4 AZ NM 15 SC $927 MILLION GA Available Liquidity(2) 13 TX 24 $651 MILLION
Slide 9: Attractive Brand Mix
Highlights 4Q & FY25 Growth Appendix Attractive Brand Mix A diversified portfolio with the right brands in the right markets (Based on New Vehicle Revenue — FY25) LUXURY IMPORTS Lexus 11% Toyota 19% Mercedes-Benz 7% Honda 9% DOMESTIC BMW 4% Hyundai 5% LUXURY 28% Land Rover 2% Kia 2% 32% Porsche 2% O
Slide 10: The Four Key Components
Highlights 4Q & FY25 Growth Appendix 4% F&I, includes TCA 14% 23% Parts & Service The Four Used Key Components 29% New Diversified 48% business mix provides multiple profit streams 53% 8% (FY25) 20% Revenue Gross Profit NYSE: ABG 10 May not add to 100% due to rounding
Slide 11: Fourth Quarter and Full Year 2025
02 A B G | A s b u r y A u t o m o t i v e Fourth Quarter and Full Year 2025 NYSE: ABG 11
Slide 12: Summary
Highlights 4Q & FY25 Growth Appendix Summary 2025 Year-Over-Year 4Q25 FY25 Revenue Total Company Same Store Total Company Same Store Total 4% (6%) 5% 1% New Vehicle 3% (6%) 7% 4% Used Vehicle Retail 1% (10%) (1%) (5%) (1) Finance & Insurance(1) 1% (7%) 1% (2%) Parts & Service 12% 2% 6% 3% NYSE: ABG
Slide 13: Parts & Service
Highlights 4Q & FY25 Growth Appendix Parts & Service Driving profitable growth 4Q25 Same Store Drivers(1) 2% Same Store Parts & Service Gross Profit Growth, YoY 11% 11% 7% 4% 19% Combined Customer Pay & Warranty 18% Collision 16% Wholesale Parts Warranty 3% 6% Customer Pay 64% 53% Customer Pay Warra
Slide 14: Parts & Service: By Powertrain
Highlights 4Q & FY25 Growth Appendix Parts & Service: By Powertrain 4Q25 Proportion of RO Count by Powertrain 4Q25 Dollars per RO by Powertrain ICE & Hybrid: 98% PHEV: 1% $801 $625 BEV: 1% $560 ICE & Hybrid PHEV BEV NYSE: ABG 14 Same store basis; may not add to 100% due to rounding
Slide 15: Parts & Service: Average Mileage Serviced
Highlights 4Q & FY25 Growth Appendix Parts & Service: Average Mileage Serviced Extending relationships with our guests Average Vehicle Mileage in our Service Drives A key metric for the health of our service department, Customer Pay mileage, continues to stay elevated Increased average mileage servi
Slide 16: F&I Profit Per Vehicle Retailed (PVR)
Highlights 4Q & FY25 Growth Appendix F&I Profit Per Vehicle Retailed (PVR) Attractive insurance product offerings to support our guests Same Store F&I PVR Historical & Current F&I PVR Composition Ex-TCA Headwind PVR: $2,440 TCA deferral $105 headwind, YoY 1/3 2/3 $2,335 $2,270 Insurance Product Rese
Slide 17: Total Care Auto: Overview
Highlights 4Q & FY25 Growth Appendix Total Care Auto: Overview Strategic, standalone asset with four decades of serving guests 1.6M+ A Rated $425M+ Vehicle Sold Active Contracts Increased from A- Investment & (Dealership) Post-Acquisition Cash Balance Service Drives F&I Vehicle Service Contracts Key
Slide 18: Total Care Auto: Estimated Roadmap for Growth
Highlights 4Q & FY25 Growth Appendix Total Care Auto: Estimated Roadmap for Growth Updated SAAR assumptions and portfolio mix lowers magnitude of deferral headwind 2026 E 2027 E 2028 E 2029 E SAAR Estimate 15.9M 15.9M 16.0M 16.3M Pre-Tax Estimates ($ in 2024 1Q25 2Q25 3Q25 4Q25 2025 2026 E 2027 E 20
Slide 19: Operating Income & Margin Trend
Highlights 4Q & FY25 Growth Appendix Operating Income & Margin Trend We consistently deliver best in class operating efficiency 8.1% 8.3% 7.3% Adj. Operating Margin 5.7% 5.8% 5.6% 4.6% $1,274 $1,075 $997 $1,014 Adj. Operating Income ($M) $793 $405 $334 2019 2020 2021 2022 2023 2024 2025 NYSE: ABG 19
Slide 20: Cash Flow Summary
Highlights 4Q & FY25 Growth Appendix Cash Flow Summary As a larger company with more robust operating cash flow, we have increased capacity for capital deployment $44.15 $33.64 $34.40 $33.28 Adj. Operating Cash $31.52 Flow per Share $987 $22.93 $893 $14.63 $705 $688 $632 $651 $556 $563 $526 $443 $46
Slide 21: Leverage and Liquidity
Highlights 4Q & FY25 Growth Appendix Leverage and Liquidity Robust cash flow providing opportunity for capital deployment — share repurchases and acquisitions Transaction Adjusted Net Leverage Ratio Total Liquidity ($M) 3.2x 3.2x $1,116 2.9x 2.8x $964 $927 2.5x $828 $687 4Q24 1Q25 2Q25 3Q25 4Q25 4Q2
Slide 22: Leverage Varies Based on Business Conditions & Environment
Highlights 4Q & FY25 Growth Appendix Leverage Varies Based on Business Conditions & Environment Equilibrium leverage target range balances financial flexibility with an efficient capital structure 2.5x Normal Target Range 3.0x NET DEBT/EBITDA Factors Influencing Leverage Top ECONOMIC CYCLE Bottom Hi
Slide 23: Capital Allocation History
Highlights 4Q & FY25 Growth Appendix Capital Allocation History We have a track record of prudent capital allocation 2014–2020 2021 2022 2023 2024 2025 Acquisitions $3.1B Revenue Acquired $5.8B(3) Revenue Acquired N/A $2.7B (5) Revenue Acquired N/A $2.9B Revenue Acquired ▪ Dealerships in ▪ LHM & TCA
Slide 24: Growth Strategy
03 A B G | A s b u r y A u t o m o t i v e Growth Strategy NYSE: ABG 24
Slide 25: Transforming Our Business
Highlights 4Q & FY25 Growth Appendix Transforming Our Business Delivering on our mission Our Guiding Principles Fulfilling the Vision Meeting the Future Since starting our journey, we’ve: Affirming our commitment to growth: • Operate the highest quality • More than doubled the size of • Accelerate s
Slide 26: Capital Allocation
Highlights 4Q & FY25 Growth Appendix Capital Allocation Disciplined Pursuit of Capital Allocation Acquisitions have given us scale and depth across the best markets Investments in technology will maximize our returns as we shift towards a more balanced approach 2019 As of December 31, 2025 STRENGTHE
Slide 27: Appendix
04 A B G | A s b u r y A u t o m o t i v e Appendix NYSE: ABG 27
Slide 28: TCA: Simplified Accounting Example—Cash View
Highlights 4Q & FY25 Growth Appendix TCA: Simplified Accounting Example—Cash View Example Fact Pattern • Customer Price of Insurance Contract: $2,500 • TCA Cost: • Contract Term: 5 Years o Overhead Costs: $250 • Dealership profit: $1,500 o Claims Reserve: $525 • Commission Paid to Sales Employee (~2
Slide 29: TCA: Simplified Accounting Example—GAAP View
Highlights 4Q & FY25 Growth Appendix TCA: Simplified Accounting Example—GAAP View Math for 5 Year Life of Contract Example Fact Pattern Revenue $2,500 • Customer Price of Insurance Contract: $2,500 • TCA Cost: Claim Yr 3 ($525) • Contract Term: 5 Years o Overhead Costs: $250 Fixed Ops Gross Profit o
Slide 30: Debt Maturity Schedule
Highlights 4Q & FY25 Growth Appendix Debt Maturity Schedule ($ in Millions) Senior Notes Mortgages $800 $600 $405 $442 $445 $151 $57 2026 2027 2028 2029 2030 2031 2032 NYSE: ABG 30 Note: As of 12/31/2025; Excludes $8.3M of finance leases
Slide 31: Non-GAAP Financial Disclosure and Reconciliation
Non-GAAP Financial Disclosure and Reconciliation In addition to evaluating the financial condition and results unusual or non-recurring nature. Because these non-core, divestiture(s) is excluded from Transaction adjusted EBITDA. of our operations in accordance with GAAP, from time to time unusual or
Slide 32: Non-GAAP Reconciliation
Highlights 4Q & FY25 Growth Appendix Non-GAAP Reconciliation Adjusted income from Operations and Adjusted Operating Margin For the Year Ended December 31, ($ In millions) 2019 2020 2021 2022 2023 2024 2025 Adjusted income from operations: Income from operations $ 325.0 $ 370.8 $ 791.8 $ 1,272.6 $ 95
Slide 33: Non-GAAP Reconciliation
Highlights 4Q & FY25 Growth Appendix Non-GAAP Reconciliation Adjusted EBITDA ($ In millions) For the Year Ended December 31, 2019 2020 2021 2022 2023 2024 2025 Adjusted EBITDA: Calculation of earnings before interest, taxes, depreciation and amortization ("EBITDA"): Net Income $ 184.4 $ 254.4 $ 532.
Slide 34: Non-GAAP Reconciliation
Highlights 4Q & FY25 Growth Appendix Non-GAAP Reconciliation For the Year Ended December 31, ($ in millions, except per share data) Adjusted Net Income 2019 2020 2021 2022 2023 2024 2025 and Adjusted EPS Adjusted net income: Net income $ 184.4 $ 254.4 $ 532.4 $ 997.3 $ 602.5 $ 430.3 $ 492.0 Non-core
Slide 35: Non-GAAP Reconciliation
Highlights 4Q & FY25 Growth Appendix ($ in millions) For the Twelve Months Ended December 31, March 31, June 30, September 30, December 31, 2024 2025 2025 2025 2025 Adjusted EBITDA: Calculation of earnings before interest, taxes, depreciation and amortization ("EBITDA"): Net Income $ 430.3 $ 415.4 $
Slide 36: Non-GAAP Reconciliation
Highlights 4Q & FY25 Growth Appendix Non-GAAP Reconciliation Adjusted Cash Flow from Operations, Adjusted Free Cash Flow and Adjusted Operating Cash Flow Per Share For the Year Ended ($ in millions, except per share data) December 31, 2019 2020 2021 2022 2023 2024 2025 Adjusted cash flow from operat
Slide 37: Thank You
Thank You investors.asburyauto.com NYSE: ABG 37
Asbury Automotive Group — Q4 2025 Earnings Presentation on 6ix