Asbury Automotive Group's stock plummeted 5.40% during Tuesday's intraday trading session following the release of its first-quarter financial results.

The automotive retailer reported adjusted earnings per share of $5.37 for Q1, missing the analyst consensus estimate of $5.62. Revenue came in at approximately $4.11 billion, falling short of the expected $4.37 billion. Both metrics also declined compared to the same period last year.

The earnings miss was attributed to several factors, including the divestiture of ten dealerships, which reduced annualized revenue, and higher selling, general and administrative expenses that pressured profit margins. These results have led to negative investor sentiment, driving the stock price lower.