Asbury Automotive Group (ABG) delivered a record quarterly revenue of $4.50 billion in Q4 2024, up 18% year over year, with gross profit of $750 million and a gross margin of 16.6%. Adjusted net income reached $143 million and adjusted EPS was $7.26, supported by a two-sided mix of strong new-vehicle activity, resilient fixed operations, and disciplined SG&A. The quarter benefited from higher same-store performance in new and parts & service, and meaningful Clicklane traction (approximately 12,000 transactions in Q4 and over 51,000 for the year, a 13% increase). Management emphasized ongoing cost discipline, a Tekion pilot to modernize operations, and a strategic shift toward profitability in the used-vehicle cycle amid supply constraints. However, ABG continued to face material headwinds from Stellantis’ inventory realignment and a very low GPU environment, with projected 2025 new-vehicle GPUs expected in the $2,500–$3,000 range per vehicle and ongoing TCA deferrals impacting earnings, notably in 2025 and beyond. The company projects capital expenditures around $250 million in 2025 and 2026, while maintaining robust free cash flow (FY2024 free cash flow of $526 million) and a healthy liquidity position (~$828 million). The trajectory implies a cautious but constructive outlook for 2025, anchored by fixed ops growth, Clicklane expansion, and technology-driven efficiency gains, offset by TCA cadence and OEM-related GPU dynamics.