October 25, 2020

TomTom reports drop in earnings, automotive gains

Recasts with forecasts, adds details

Oct 14 (Reuters)Dutch mapping and navigation company TomTom TOM2.AS on Wednesday forecast a 25% drop in full-year sales, as it reported a better-than-feared fall in third-quarter earnings, although its automotive division surpassed expectations.

The Amsterdam-based company, whose customers range from major carmakers to leading global tech firms, said it now expects reported revenue of 530 million euros ($622.33 million) for the full-year, slightly below consensus estimates of 536 million.

The group said it saw growth in its automotive business, which provides maps and navigation software to carmakers.

“For Q4, we expect that automotive operational revenue continues to show strong sequential growth,” said finance chief Taco Titulaer, citing improved car production as the division beat expectations, growing sales 19% year-on-year.

European new car sales gradually picked up over the summer, after lockdowns shuttered showrooms and brought traffic to a halt. Industry data showed

Read More

Asbury Automotive Group Reports Preliminary Results and Schedules Third Quarter 2020 Earnings Call | News

DULUTH, Ga., Oct. 14, 2020 /PRNewswire/ — Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., today reported preliminary financial results for the three months ended September 30, 2020. Asbury expects net income per diluted share to be between $4.88 and $4.96, and adjusted net income per diluted share (a non-GAAP measure) to be between $4.00 and $4.08, which would be an increase of between 72% and 75% from the prior year quarter adjusted net income per diluted share of $2.33.  Net income for the third quarter 2020 is expected to be adjusted for a $24.7 million ($0.96 per diluted share) gain on a dealership divestiture, $1.3 million ($0.05 per diluted share) of acquisition related costs and a $0.7 million ($0.03 per diluted share) real estate related charge.

The company expects same store

Read More

UPDATE 1-TomTom reports drop in earnings, automotive gains

(Recasts with forecasts, adds details)

Oct 14 (Reuters) – Dutch mapping and navigation company TomTom on Wednesday forecast a 25% drop in full-year sales, as it reported a better-than-feared fall in third-quarter earnings, although its automotive division surpassed expectations.

The Amsterdam-based company, whose customers range from major carmakers to leading global tech firms, said it now expects reported revenue of 530 million euros ($622.33 million) for the full-year, slightly below consensus estimates of 536 million.

The group said it saw growth in its automotive business, which provides maps and navigation software to carmakers.

“For Q4, we expect that automotive operational revenue continues to show strong sequential growth,” said finance chief Taco Titulaer, citing improved car production as the division beat expectations, growing sales 19% year-on-year.

European new car sales gradually picked up over the summer, after lockdowns shuttered showrooms and brought traffic to a halt. Industry data showed new registrations

Read More

Group 1 Automotive Schedules 2020 Third Quarter Earnings Release, Conference Call and Webcast

HOUSTON, Oct. 13, 2020 /PRNewswire/ — Group 1 Automotive, Inc. (NYSE: GPI), an international, Fortune 500 automotive retailer, today announced that it will release financial results for the third quarter ended September 30, 2020, on Thursday, October 29, 2020, before market open.  Earl J. Hesterberg, Group 1’s president and chief executive officer, and the company’s senior management team will host a conference call to discuss the results later that morning at 10 a.m. ET.

The conference call will be simulcast live on the Internet at www.group1auto.com.  Click on ‘Investor Relations’ and then ‘Events’ or through this link: https://www.group1corp.com/events. A webcast replay will be available for 30 days.

The conference call will also be available live by dialing in 10 minutes prior to the start of the call at:

Domestic:

1-888-609-1607



International:

1-862-298-0705

Passcode:

56690934

A telephonic replay will be available

Read More

Group 1 Automotive Schedules 2020 Third Quarter Earnings Release, Conference Call and Webcast | Nachricht

HOUSTON, Oct. 13, 2020 /PRNewswire/ –Group 1 Automotive, Inc. (NYSE: GPI), an international, Fortune 500 automotive retailer, today announced that it will release financial results for the third quarter ended September 30, 2020, on Thursday, October 29, 2020, before market open.  Earl J. Hesterberg, Group 1’s president and chief executive officer, and the company’s senior management team will host a conference call to discuss the results later that morning at 10 a.m. ET.

The conference call will be simulcast live on the Internet at www.group1auto.com.  Click on ‘Investor Relations’ and then ‘Events’ or through this link: http://www.group1corp.com/events. A webcast replay will be available for 30 days.

The conference call will also be available live by dialing in 10 minutes prior to the start of the call at:

Domestic:

1-888-609-1607

International:

1-862-298-0705

Passcode:

56690934

A telephonic replay will be available following the call through November

Read More

Why Group 1 Automotive (GPI) Could Beat Earnings Estimates Again

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Group 1 Automotive (GPI), which belongs to the Zacks Automotive – Retail and Whole Sales industry, could be a great candidate to consider.

This auto dealer has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 186.19%.

For the last reported quarter, Group 1 Automotive came out with earnings of $3.77 per share versus the Zacks Consensus Estimate of $0.91 per share, representing a surprise of 314.29%. For the previous quarter, the company was expected to post earnings of $1.05 per share and it actually produced earnings of $1.66 per share, delivering a surprise of 58.10%.

Price and EPS Surprise

Thanks in part to this history,

Read More

4 Transportation Stocks to Buy Ahead of Q3 Earnings Season

It is a well-documented fact that the transportation sector is one of the worst-affected corners of the investment world that bore a massive brunt of the coronavirus pandemic. The space, which includes airlines, railroads, truckers, shippers and package delivery companies to name a few, is dealt a body blow by factors like declining air-travel demand and low shipment volumes.

Despite the above-mentioned negatives, there are a few favorable factors prevalent in this sector.

Delving Deeper

The uptick in demand for e-commerce — the method of buying and selling goods and services via a software platform — in the current scenario is a huge positive, particularly for the package delivery companies in the sector like FedEx Corporation FDX and United Parcel Service UPS. With the pandemic largely restricting people to their homes, consumers are placing orders more online. Naturally, the need for door-to-door delivery of essentials is rising in the current

Read More

Why Asbury Automotive (ABG) Could Beat Earnings Estimates Again

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Asbury Automotive Group (ABG), which belongs to the Zacks Automotive – Retail and Whole Sales industry, could be a great candidate to consider.

This auto dealership chain has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 6.91%.

For the most recent quarter, Asbury Automotive was expected to post earnings of $2.47 per share, but it reported $2.52 per share instead, representing a surprise of 2.02%. For the previous quarter, the consensus estimate was $1.61 per share, while it actually produced $1.80 per share, a surprise of 11.80%.

Price and EPS Surprise

Thanks in part to this history, there has been a favorable change in earnings estimates for

Read More

Can O’Reilly Automotive (ORLY) Keep the Earnings Surprise Streak Alive?

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider O’Reilly Automotive (ORLY). This company, which is in the Zacks Automotive – Retail and Wholesale – Parts industry, shows potential for another earnings beat.

This auto parts retailer has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 38.01%.

For the most recent quarter, O’Reilly Automotive was expected to post earnings of $4.10 per share, but it reported $7.10 per share instead, representing a surprise of 73.17%. For the previous quarter, the consensus estimate was $3.86 per share, while it actually produced $3.97 per share, a surprise of 2.85%.

Price and EPS Surprise

With this earnings history in mind, recent

Read More

Knight-Swift Transportation Holdings Inc. Announces Timing of Third Quarter 2020 Earnings Release

Press release content from Business Wire. The AP news staff was not involved in its creation.

PHOENIX–(BUSINESS WIRE)–Sep 30, 2020–

Knight-Swift Transportation Holdings Inc. (NYSE: KNX) expects to release its 2020 third quarter earnings on Wednesday, October 21, 2020 prior to the market open by filing a Form 8-K with the SEC. The earnings release will be available on the Company’s website http://investor.knight-swift.com/events and the Form 8-K will be available on the SEC website http://www.sec.gov.

The Company assumes no responsibility to update any information posted on its website.

The earnings release may contain forward-looking statements made by the Company that involve risks, assumptions and uncertainties that are difficult to predict. Investors are directed to the information contained in Part II, Item 1A. “Risk Factors” in our Quarterly Report for the quarter ended March 31, 2020 and in Part I, Item 1A., Risk Factors, in Knight-Swift’s

Read More