Group 1 Automotive Inc Stock Price, News & Analysis

Group 1 Automotive, Inc. (GPI) reported record quarterly revenues of $4.1 billion for Q2 2022, reflecting a 14.3% increase year-over-year. Diluted earnings per share reached $12.11, an 18.3% rise from $10.23 in the previous year. Growth was driven by a 34.0% increase in parts and service and a 20.3% surge in finance and insurance revenues. Notably, the company's acquisitions over the past 18 months are projected to add $3.0 billion in annual revenues. Despite continued constraints in new vehicle supply, the overall performance marks a significant milestone for the company.

Group 1 Automotive (NYSE: GPI) has acquired five dealerships in Shreveport, Louisiana, including Holmes Honda Shreveport and Holmes Volvo Cars, from the Holmes Auto Family. This acquisition is part of a broader trend of increasing buy/sell market share among import franchises, which reached 64% in 2021. Kerrigan Advisors facilitated the sale, marking their 160th dealership transaction since 2015. The Holmes Auto Family’s dealerships, known for high performance, are transitioning to new ownership, ensuring continued commitment to customer service and community outreach.

Group 1 Automotive, Inc. (NYSE: GPI) will release its financial results for Q2 2022 on July 27, 2022, before market open. The results will be discussed in a conference call at 10:00 a.m. ET, which will also be available via webcast. The company operates 204 dealerships across the U.S. and U.K., with 273 franchises and 47 collision centers. Group 1 provides various automotive services, including vehicle financing, maintenance, and sales of new and used vehicles.

Group 1 Automotive, Inc. (NYSE: GPI) has announced its acquisition of three dealerships and a collision center in Shreveport, Louisiana, from Holmes European Motors, L.L.C. The dealerships include Mercedes-Benz, Land Rover, Jaguar, and Volvo franchises, which are projected to bring in $110 million in annual revenues. This acquisition increases Group 1's year-to-date acquired revenue to $660 million. Additionally, the company disposed of a Hyundai franchise in Houston and a Volkswagen franchise in Boston, generating $75 million in annual revenues.

Group 1 Automotive (GPI) has announced the sale of its Brazilian operations for BRL 510 million to Original Holdings S.A., marking a strategic exit from the market. This subsidiary operated 16 dealerships with BRL 1.7 billion in annual revenue as of 2021. The company also reported a year-to-date share repurchase of 1,437,729 shares at an average price of $176.74, totaling $254.1 million, which represents 8.3% of outstanding shares. Group 1 aims to reinvest in growth opportunities within the U.S. and U.K.

Group 1 Automotive (NYSE: GPI) announced an increase in its common stock repurchase authorization by $175 million to a total of $250 million. Year-to-date, the company has repurchased 796,060 shares at an average price of $179.72, accounting for 4.6% of its outstanding shares. Additionally, the board declared a cash dividend of $0.37 per share, marking a 2.8% increase from the previous quarter, payable on June 15, 2022. Strong cash flow supports these initiatives, reinforcing the company's commitment to returning value to shareholders.

Group 1 Automotive, Inc. (NYSE: GPI) reported record first quarter 2022 results with net income of $202.9 million, a 99.3% increase year-over-year, and diluted earnings per share of $11.78, up 115.3%. Total revenues reached $3.8 billion, a 30.1% increase from the prior year. Key growth drivers included a strong demand in both the U.S. and U.K. markets, with service growth of 18.6% and improved operational performance. Two recent acquisitions are projected to provide a combined $550 million in annualized revenues.

Group 1 Automotive, Inc. (NYSE: GPI) announced its upcoming financial results for Q1 2022, scheduled for release on April 27, 2022, before market open. The company's president and CEO, Earl J. Hesterberg, will host a conference call at 10:00 a.m. ET to discuss the results. Group 1 operates 202 dealerships across the U.S. and U.K., representing 34 automobile brands. The results will provide insights into the company's financial health and operational performance, which are crucial for investors.

Group 1 Automotive (NYSE: GPI) will present at the Bank of America 2022 Auto Summit on April 13, 2022, at 9:45 a.m. ET in New York City. The event will be available for live streaming on the company's website. Group 1 operates 202 dealerships across the U.S. and U.K., offering 34 automotive brands. Its services include new and used vehicle sales, financing, maintenance, and parts. Company presentations and more information can be found on their event page.