Welcome to our dedicated page for Group 1 Automotive news (Ticker: GPI), a resource for investors and traders seeking the latest updates and insights on Group 1 Automotive stock.
News and updates for Group 1 Automotive, Inc. (NYSE: GPI) focus on its role as a Fortune 250 automotive retailer operating dealerships, franchises, and collision centers in the United States and the United Kingdom. As an operator of more than 250 dealerships and over 300 franchises offering 36 brands of automobiles, the company regularly issues news on financial performance, network expansion, and portfolio optimization.
Investors following GPI news will see recurring coverage of quarterly and annual financial results, where Group 1 reports revenues, gross profit, net income from continuing operations, and key performance metrics across new vehicle sales, used vehicle sales, parts and service, and finance and insurance (F&I). Earnings releases often discuss same-store performance, non-GAAP measures such as adjusted net income and adjusted diluted earnings per share, and constant currency analysis.
Company news also highlights acquisitions and dispositions of dealerships, including high-volume and luxury brand locations, expected annual revenues from acquired stores, and closures or sales of underperforming points. Updates on U.K. restructuring, workforce realignment, and facility closures are disclosed, along with impairment and restructuring charges tied to the U.K. reporting unit.
Additional news topics include share repurchase activity, changes to share repurchase authorizations, and cash dividend declarations by the board of directors. Group 1 also issues announcements about executive appointments, such as the naming of a Senior Vice President and Chief Human Resources Officer, and about facility investments like dealership renovations. For ongoing insight into GPI’s operations, capital allocation, and strategic moves, this news feed aggregates the company’s press releases and related market communications.
Group 1 Automotive (GPI) announced a $144.2 million increase in its common stock share repurchase authorization, bringing the total to $200.0 million. In February 2022, the company repurchased 107,320 shares at an average price of $172.00 per share. Additionally, it declared a quarterly cash dividend of $0.36 per share, representing a 2.9% increase. The company also disclosed the sale of two dealerships, which collectively generated about $125 million in annual revenue.
Group 1 Automotive (GPI) announced a record-breaking fourth quarter and full-year 2021, with total revenues reaching $3.5 billion for Q4, a 19.4% increase year-over-year. Net income for Q4 stood at $87.1 million, with diluted EPS at $4.84, marking a 69.0% increase from the prior year. Full-year results showcased total revenues of $13.5 billion and net income of $625.4 million, both significantly up from 2020. The company also announced a pending sale of its Brazilian operations and substantial acquisitions expected to increase annual revenues by $2.5 billion.
Group 1 Automotive, (NYSE: GPI), will announce its financial results for the fourth quarter and full year ending December 31, 2021, on Thursday, February 10, 2022, before market open. The company's CEO, Earl J. Hesterberg, will lead a conference call at 10 a.m. ET to discuss these results. Investors can access the call via the company's website and a telephonic replay will be available until February 17, 2022.
Group 1 Automotive (NYSE: GPI) will present at the Stephens Annual Investment Conference 2021 on December 2, 2021, at 2:00 p.m. E.T. in Nashville, Tennessee. The presentation will highlight the company's performance and strategy as an international automotive retailer with 218 dealerships across the U.S., U.K., and Brazil. A softcopy of the presentation will be available in the Investor Relations section of their website post-event.
On November 17, 2021, Group 1 Automotive (NYSE: GPI) announced completing the acquisition of Prime Automotive Group, encompassing 27 dealerships and three collision centers. This acquisition is projected to enhance the company's revenue and customer base, with year-to-date acquisitions totaling $2.4 billion in annual revenues. Additionally, the board declared a 2.9% increase in quarterly cash dividend to $0.35 per share and raised the stock buyback program by $116.1 million, now totaling $200 million.
Group 1 Automotive (GPI) has signed a Share Purchase Agreement to sell its Brazilian subsidiary, UAB Motors Participações, to Original Holdings S.A. for BRL 510 million. UAB operates 17 dealerships, contributing 2.3% of Group 1’s total revenue with BRL 1.264 billion in annual sales. The transaction, pending manufacturer approval, is expected to close by Q2 2022. CEO Earl J. Hesterberg stated this move allows the company to redeploy capital towards more promising growth opportunities. Following this divestiture, Group 1’s total dealerships will decrease to 174 while acquiring 30 Prime dealerships soon.
Group 1 Automotive (GPI) achieved record net income for Q3 2021, reporting a net income per diluted share of $9.33, up 36.5% from $6.83 in Q3 2020. Adjusted net income per diluted share reached $9.62, a 38.0% increase year-over-year. Total revenues rose 15.4% to $3.5 billion with gross profit increasing 27.6% to $653.2 million. Vehicle margins remained strong, and the company anticipates continued demand into 2022. Group 1 is set to close on the acquisition of Prime Automotive Group, which will add significant annual revenues.
Group 1 Automotive, a Fortune 500 automotive retailer, announced the acquisition of Capital City Honda in Sacramento, California, projected to generate approximately $85 million in annualized revenue. This acquisition boosts Group 1's U.S. dealership count to 120 and adds to a total of $655 million in acquired revenues for 2021. With a pending acquisition of Prime Automotive Group, total expected acquired revenues could reach $2.5 billion, raising dealership locations worldwide to 221.
Group 1 Automotive (GPI) announced the release of its financial results for Q3 2021 on October 28, 2021, before market open. A conference call will follow at 10 a.m. ET to discuss the results, accessible via a live webcast on their website. Investors can participate by phone, and a replay will be available until November 4, 2021. The company operates 190 dealerships across the U.S., U.K., and Brazil, offering a range of automotive services, including vehicle sales and financing.
Group 1 Automotive, Inc. (NYSE: GPI) has announced the pricing of a $200 million private placement of its 4.000% senior unsecured notes due in 2028. The offering is set at an effective yield of approximately 3.957% and is expected to close on October 21, 2021. Funds will be used for the acquisition of Prime Automotive Group or general corporate purposes. These notes are additional to the $550 million issued earlier in August 2020. The notes will not be registered under the Securities Act, limiting their sale to qualified buyers.
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