Business Context and Reporting Period
Company: Asbury Automotive Group, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 30, 2008
Reporting Period: Third quarter and nine months ended September 30, 2008.
This filing serves as a current report to announce the issuance of an earnings release regarding the Company's financial results for the specified periods. The detailed financial data is contained in the attached press release (Exhibit 99.1) and is not explicitly detailed within the body of this Form 8-K text.
Key Financial Metrics
The filing text references the announcement of financial results for the third quarter and nine months ended September 30, 2008, but does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity within the document body. Investors must refer to Exhibit 99.1 (Press Release dated October 30, 2008) for these figures.
Material Changes and Corporate Governance
Executive Leadership Changes:
- Resignation: Brett Hutchinson, Vice President and Controller, resigned.
- Appointments (Effective November 1, 2008):
- Keith R. Style: Elected Vice President of Finance. He previously served as Vice President of Finance and Investor Relations and has been with the Company since 2003.
- Bryan Hanlon: Elected Controller and Chief Accounting Officer. He will serve as the principal accounting officer and report to Mr. Style. He has been with the Company since 2004.
Financial Results: The Company issued an earnings release on October 30, 2008, covering the third quarter and nine months ended September 30, 2008. Specific material changes in financial performance are not detailed in this text.
Guidance, Outlook, and Risks
The filing text does not contain specific guidance, outlook statements, management commentary on future performance, or a discussion of risks and contingencies. The document notes that the information in the earnings release (Exhibit 99.1) is furnished but not deemed "filed" for purposes of Section 18 of the Exchange Act, limiting its incorporation by reference into other filings unless expressly stated.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated October 30, 2008) for specific revenue, earnings, and cash flow figures for Q3 and the nine months ended September 30, 2008.
- Verify the effective date of the new financial leadership (November 1, 2008) and the transition of duties from the departing Controller.
- Confirm whether the earnings release contains updated forward-looking guidance or warnings regarding the 2008 economic environment, as this is not present in the 8-K text.
- Note that the financial data in the attached press release is not automatically incorporated by reference into other SEC filings under the Exchange Act.