Asbury Automotive Group Inc · NYSE:ABG
Asbury Automotive — Q1 2026 Earnings Presentation
37 slides from Asbury Automotive's earnings presentation, Apr 28, 2026
Slide 1: Investor Relations Presentation First Quarter
A B G | A s b u r y A u t o m o t i v e Investor Relations Presentation First Quarter
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking future litigation and other proceedings; our governmental regulations and legislation, statements" within the meaning of the Private inability to realize the benefits expected from including changes in automotive state Securities
Slide 3: NYSE: ABG
PakPlace NALEY 2 -CENTRIC Herb &» McDavid et Aur Chambers A No, oP ) A. Larry H Miller © KOONS ‘be, £ % Dealerships & oN : % & 8 ARAPAHOE S&S 8 f~ \ Satter ASBURY | 5 | A rorvecasus “Hare KAHLO WE ARE ONE TEAM MEMBERS GUESTS Hove aun, supportive and ede otesionas CROWN amas Rescate RON our guests an
Slide 4: Do What You Say You're Going to Do
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: April 28, 2026
Agenda: April 28, 2026 Company Highlights ……………………………………………………………………………………………………………………………….…………………………………………….. Page 6 1Q26 Review ……………………………………………………………………………………………………………………………….…………………………………………….. Page 11 Growth Strategy ……………………………………………………………………………………………………………………………….…………………………………………….. Page 24
Slide 6: Company Highlights
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
Highlights 1Q26 Growth Appendix Company Highlights Asbury, Since 2020(1) $37.66 • 152% increase in revenue; +17% CAGR $32.60 $27.29 $27.24 $28.10 • 117% increase in Adj EPS(2); +14% CAGR $18.0B $17.2B • 88% increase in new car dealerships $15.4B $14.8B $12.90 Adj. EBITDA(2) Adj. Op. Cash Flow(2) ($M
Slide 8: Company Profile
Highlights 1Q26 Growth Appendix Company Profile $18 BILLION Total Revenue (1) 3 29 ID MA 1 319,903 RI New and Used Vehicles Retailed(1) 8 6 8 17 UT MD MD CO IN 14 3.2x VA Transaction Adjusted Net Leverage(2,3) 13 6 1 AZ NM 15 SC $1.2 BILLION GA Available Liquidity(2) 13 TX 24 $630 MILLION FL LTM Adj
Slide 9: Attractive Brand Mix
Highlights 1Q26 Growth Appendix Attractive Brand Mix A diversified portfolio with the right brands in the right markets (Based on New Vehicle Revenue — 1Q26) LUXURY IMPORTS Lexus 11% Toyota 19% Mercedes-Benz 7% Honda 10% DOMESTIC BMW 4% Hyundai 5% LUXURY 26% Porsche 3% Kia 2% 35% Land Rover 2% Other
Slide 10: The Four Key Components
Highlights 1Q26 Growth Appendix 4% F&I, includes TCA 15% 23% Parts & Service The Four Used Key Components 29% New Diversified 50% business mix provides multiple profit streams 51% 9% (1Q26) 18% Revenue Gross Profit NYSE: ABG 10 May not add to 100% due to rounding
Slide 11: First Quarter 2026
A B G | A s b u r y A u t o m o t i v e First Quarter 2026 NYSE: ABG 11
Slide 12: Summary
Highlights 1Q26 Growth Appendix Summary 2026 Year-Over-Year 1Q26 Revenue Total Company Same Store Total (1%) (9%) New Vehicle (2%) (9%) Used Vehicle Retail (2%) (11%) (1) Finance & Insurance(1) (4%) (11%) Parts & Service 7% 0% NYSE: ABG 12 (1) Includes Total Care Auto, or “TCA”.
Slide 13: Parts & Service
Highlights 1Q26 Growth Appendix Parts & Service (1%) Driving profitable growth 1Q26 Same Store Drivers(1) Same Store Parts & Service Gross Profit Growth, YoY 11% 11% 7% 1% 20% Combined Customer Pay & Warranty 19% Collision 16% Wholesale Parts Warranty 1% 3% Customer Pay 63% 53% Customer Pay Warranty
Slide 14: Parts & Service: By Powertrain
Highlights 1Q26 Growth Appendix Parts & Service: By Powertrain 1Q26 Proportion of RO Count by Powertrain 1Q26 Dollars per RO by Powertrain ICE & Hybrid: 98% PHEV: 1% $892 $652 BEV: 1% $581 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 1Q26 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 serviced l
Slide 16: F&I Profit Per Vehicle Retailed (PVR)
Highlights 1Q26 Growth Appendix F&I Profit Per Vehicle Retailed (PVR) Attractive insurance product offerings to support our guests Historical & Current Same Store F&I PVR Same Store F&I PVR Composition Ex-TCA Headwind PVR: $2,351 TCA deferral $45 headwind, YoY Reserve 1/3 Insurance $2,300 $2,307 Pro
Slide 17: Total Care Auto: Overview
Highlights 1Q26 Growth Appendix Total Care Auto: Overview Strategic, standalone asset with four decades of serving guests 1.5M A Rated $435M Vehicle Sold Active Contracts Increased from A- Investment & (Dealership) Post-Acquisition Cash Balance Service Drives F&I Vehicle Service Contracts Key & Remo
Slide 18: Total Care Auto: Estimated Roadmap for Growth
Highlights 1Q26 Growth Appendix Total Care Auto: Estimated Roadmap for Growth Assuming 15.9M SAAR for 2026 2027 E 2028 E 2029 E SAAR Estimate 15.9M 16.0M 16.3M Pre-Tax Estimates ($ in millions) 2025 1Q26 2026 E 2027 E 2028 E 2029 E TCA Standalone Pre-Tax Income $79 $21.3 $66 $65 $75 $89 Non-Cash Def
Slide 19: Operating Income & Margin Trend
Highlights 1Q26 Growth Appendix Operating Income & Margin Trend We consistently deliver best in class operating efficiency Adj. Operating Margin 8.1% 8.3% 7.3% 5.7% 5.8% 5.6% 5.8% $1,274 5.0% $1,075 $997 $1,014 Adj. Operating Income ($M) $793 $405 $241 $206 2020 2021 2022 2023 2024 2025 1Q25 1Q26 NY
Slide 20: Cash Flow Summary
Highlights 1Q26 Growth Appendix Cash Flow Summary As a larger company with more robust operating cash flow, we have increased capacity for capital deployment $44.15 Adj. Operating Cash Flow per Share $33.64 $34.40 $33.28 $31.52 $987 $22.93 $893 $705 $688 $632 $651 $556 $563 $526 $9.51 $8.75 $443 $46
Slide 21: Leverage and Liquidity
Highlights 1Q26 Growth Appendix Leverage and Liquidity Robust cash flow providing opportunity for capital deployment — share repurchases and acquisitions Transaction Adjusted Net Leverage Ratio Total Liquidity ($M) 3.2x 3.2x 3.2x $1,116 $1,155 2.8x 2.5x $964 $927 $687 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2
Slide 22: Leverage Varies Based on Business Conditions & Environment
Highlights 1Q26 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 High MA
Slide 23: Capital Allocation History
Highlights 1Q26 Growth Appendix Capital Allocation History We have a track record of prudent capital allocation 2014–2022 2023 2024 2025 1Q26 Acquisitions $8.9B(3) Revenue Acquired $2.7B (6) Revenue Acquired N/A $2.9B Revenue Acquired N/A ▪ Dealerships in ▪ Jim Koons ▪ Herb Chambers Jacksonville, At
Slide 24: Growth Strategy
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 1Q26 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 same s
Slide 26: Capital Allocation
Highlights 1Q26 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 March 31, 2026 STRENGTHEN BALANC
Slide 27: Appendix
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 1Q26 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 (~25% of
Slide 29: TCA: Simplified Accounting Example—GAAP View
Highlights 1Q26 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: $250 Fixed Ops Gross Profit on Cla
Slide 30: Debt Maturity Schedule
Highlights 1Q26 Growth Appendix Debt Maturity Schedule ($ in Millions) Senior Notes Mortgages $800 $600 $405 $445 2026 2027 2028 2029 2030 2031 2032 NYSE: ABG 30 Note: As of 3/31/2026; Excludes $8.3M of finance leases
Slide 31: Non-GAAP Financial Disclosure and Reconciliation
Non-GAAP Financial Disclosure and Reconciliation In addition to evaluating the financial condition and results unusual or non-recurring nature. Because these non-core, divestiture(s) is excluded from Transaction adjusted EBITDA. of our operations in accordance with GAAP, from time to time unusual or
Slide 32: Non-GAAP Reconciliation
Highlights 1Q26 Growth Appendix Non-GAAP Reconciliation Adjusted income from Operations and Adjusted Operating Margin NYSE: ABG 32
Slide 33: Non-GAAP Reconciliation
Highlights 1Q26 Growth Appendix Non-GAAP Reconciliation Adjusted EBITDA For the Three Months For the Year Ended December 31, Ended March 31, ($ In millions) 2020 2021 2022 2023 2024 2025 2026 Adjusted EBITDA: Calculation of earnings before interest, taxes, depreciation and amortization ("EBITDA"): N
Slide 34: Non-GAAP Reconciliation
Highlights 1Q26 Growth Appendix Non-GAAP Reconciliation Adjusted Net Income and Adjusted EPS NYSE: ABG 34
Slide 35: Non-GAAP Reconciliation
Highlights 1Q26 Growth Appendix ($ in millions) For the Twelve Months Ended March 31, June 30, September 30, December 31, March 31, 2025 2025 2025 2025 2026 Adjusted EBITDA: Calculation of earnings before interest, taxes, depreciation and amortization ("EBITDA"): Net Income $ 415.4 $ 540.0 $ 560.8 $
Slide 36: Adjusted Cash Flow from Operations, Adjusted Free Cash Flow and Adjusted Operating Cash Flow
Highlights 1Q26 Growth Appendix Non-GAAP Reconciliation Adjusted Cash Flow from Operations, Adjusted Free Cash Flow and Adjusted Operating Cash Flow Per Share For the Twelve For the Year Ended For the Three Months Ended March 31, Months Ended ($ in millions, except per share data) December 31, March
Slide 37: Thank You
Thank You investors.asburyauto.com NYSE: ABG 37
Asbury Automotive Group — Q1 2026 Earnings Presentation on 6ix