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, Inc. (NYSE: GPI) announced on Oct. 6, 2021, its intention to offer an additional $200 million in senior unsecured notes due 2028, following a previous issuance of $550 million. The proceeds will fund part of the acquisition of Prime Automotive Group or general corporate purposes if the acquisition is not completed. The new notes will remain unregistered and will be offered only to qualified institutional buyers. Group 1 operates 190 dealerships and is a leader in the automotive retail sector.
Group 1 Automotive (GPI) announced the acquisition of Classic Chrysler Dodge Jeep Ram and Classic Mazda in Denton, Texas, expected to generate around $150 million in annual revenues. This acquisition increases Group 1's dealership count to 119 in the U.S. and adds to the $570 million in revenues acquired year-to-date. With a pending acquisition of Prime Automotive Group, total dealership locations may rise to 220, projecting total revenues of at least $2.4 billion upon completion.
Group 1 Automotive, Inc. (GPI) has announced its definitive agreement to acquire Prime Automotive Group's assets, including real estate, valued at substantial revenue potential. Prime's dealerships in the U.S. generated $1.8 billion in 2020 sales and sold over 52,000 vehicles. This acquisition will expand Group 1's dealership count to 147 in the U.S. and enhance its brand mix significantly, with an expected increased focus on luxury brands. The deal is projected to close in late November 2021.
Group 1 Automotive, Inc. (NYSE: GPI) announced a cash dividend of $0.34 per share for Q2 2021, marking a 3.0% increase from the previous quarter. The dividend is payable on September 15, 2021, to stockholders on record by September 1, 2021. This decision reflects the company's commitment to returning value to shareholders amidst a competitive automotive retail environment.
Group 1 Automotive (NYSE: GPI) reported record second-quarter 2021 results, with net income per diluted share reaching $10.35, a 533.9% increase from Q2 2020. Total revenues surged 73.6% to $3.7 billion, driven by strong vehicle sales despite supply disruptions. Adjusted net income also saw a significant rise to $10.31 per diluted share, reflecting solid growth in both new and used vehicle sales, along with improvements in gross profit. The company continues to expand, acquiring franchises and expecting substantial incremental revenues in the upcoming years.
Group 1 Automotive, Inc. (GPI) announced the upcoming release of its second quarter 2021 earnings results on July 29, 2021, before market open. The company's president, Earl J. Hesterberg, and senior management will discuss the results during a conference call at 10 a.m. ET. The call will be available via live webcast and phone access. A replay will be provided for 30 days following the event. Group 1 operates 188 automotive dealerships and various related services across the US, UK, and Brazil, offering a broad range of automobile brands.
Group 1 Automotive (GPI) announced preliminary earnings estimates for Q2 2021, projecting earnings per share between $10.20 and $10.70. This performance is attributed to strong vehicle margins, recovery in the UK market, and significant cost control measures. U.S. new vehicle inventories ended at approximately 5,400 units, and the company reported a 61% increase in consolidated retail unit sales compared to Q2 2020. Group 1 expects continued improvement, with visibility on inventory levels remaining limited. Full Q2 earnings will be released on July 29, 2021.
Group 1 Automotive (NYSE: GPI) announced its acquisition of nine dealerships in East Anglia, U.K., enhancing its relationship with the Volkswagen Group. The acquisition includes dealerships for major brands such as Audi and Citroen, expected to generate $300M in annual revenue. This expansion increases Group 1's U.K. footprint to 55 locations with 75 franchises across 14 brands. CEO Earl Hesterberg expressed confidence in the growth potential from this acquisition.
Group 1 Automotive, Inc. (NYSE: GPI) announced a quarterly cash dividend of $0.33 per share for Q1 2021, marking a 6.5% increase from the previous quarter. This dividend will be paid on June 15, 2021, to stockholders on record as of June 1, 2021. Group 1 operates 182 automotive dealerships and offers a wide range of automotive services in the U.S., U.K., and Brazil.
Group 1 Automotive (GPI) reported record first quarter 2021 results, achieving a net income of $101.9 million, a 242.3% increase year-over-year. Diluted earnings per share reached $5.52, up 242.5% from $1.61 in Q1 2020. Revenues rose 11.9% to $3.0 billion, driven by over 20% growth in U.S. new and used vehicle sales. Adjusted net income also set records, despite challenges from business interruptions and COVID-19 lockdowns in the UK. The company continues to perform strongly with significant increases in gross profit and reduced SG&A expenses as a percentage of gross profit.
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