Group 1 Automotive Inc Stock Price, News & Analysis

Group 1 Automotive (NYSE: GPI) has announced a $161 million increase to its stock repurchase authorization, raising the total to $200 million. The company repurchased approximately 21% of its outstanding shares since Q3 2021, totaling $484.3 million. Additionally, a quarterly cash dividend of $0.39 per share was declared, a 2.6% increase from the previous quarter. This decision highlights Group 1's strong cash flow and strategic focus on returning capital to shareholders while continuing to grow its U.S. and U.K. operations.

Group 1 Automotive, Inc. (GPI) reported record quarterly revenues of $4.2 billion for Q3 2022, a 22.0% increase from $3.4 billion in Q3 2021. Diluted earnings per share from continuing operations reached $12.57, up 34.4% from $9.35. Net income rose 14.2% to $197.1 million. The company experienced significant growth in vehicle and aftersales revenues, alongside a share repurchase program totaling $459.5 million in the last 12 months. Acquisitions during the quarter are projected to generate an additional $190 million in annual revenues.

Group 1 Automotive, Inc. (NYSE: GPI) is set to announce its financial results for Q3 2022 on October 26, 2022, before the market opens. CEO Earl J. Hesterberg and senior management will host a conference call at 10:00 a.m. ET to discuss these results. The call will be available for live streaming and replay on the company's website. Group 1 operates 203 dealerships across the U.S. and U.K., offering various automotive services including vehicle financing, maintenance, and parts sales.

Group 1 Automotive (NYSE: GPI) announced an expansion of its U.K. operations with the acquisition of a BMW/MINI dealership and a collision center in Southend, Essex. This boosts Group 1's U.K. footprint to 56 dealerships (79 franchises). The acquisition is anticipated to generate $80 million in annual revenues, raising year-to-date acquired revenues to $740 million. CEO Earl Hesterberg emphasized the strength of their relationship with BMW, marking this as a strategic addition to their growing U.K. business.

Group 1 Automotive (NYSE:GPI) announced a leadership transition as CEO Earl Hesterberg will retire on December 31, 2022. Daryl Kenningham, current President of U.S. Operations, has been appointed as President and COO and will become CEO on January 1, 2023. Hesterberg, who joined Group 1 in 2005, significantly expanded the company's U.S. and U.K. operations, increasing revenues threefold. Kenningham, with over 30 years in the automotive industry, aims to leverage his experience to enhance the company's growth in a dynamic marketplace.

Group 1 Automotive (NYSE: GPI) announced an increase in its stock repurchase authorization by $130 million, bringing the total to $250 million. The company reported a year-to-date repurchase of 1,546,856 shares at an average price of $176.80. Additionally, it declared a quarterly cash dividend of $0.38 per share, a 2.7% increase from the previous quarter. This strategic move reflects Group 1's strong cash flow and commitment to returning value to shareholders.

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.