Group 1 Automotive Inc Stock Price, News & Analysis

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.

Group 1 Automotive (NYSE: GPI) announced the acquisition of Larry H. Miller Toyota in Albuquerque, New Mexico, expanding its franchise portfolio. The dealership, renamed Sandia Toyota, is projected to generate $115 million annually, boosting total year-to-date acquired revenues to $550 million. This acquisition signifies the 17th Toyota store in Group 1's U.S. operations. Additionally, the company has repurchased 638,696 shares for $115.2 million, representing nearly 4% of its outstanding share count.

Group 1 Automotive (GPI) has secured a $2.0 billion five-year revolving credit facility, expiring in March 2027, with the potential to increase total availability to $2.4 billion. This facility allocates $1.651 billion for inventory financing and $349 million for working capital and acquisitions. Interest rates are tied to SOFR, plus spreads. The move enhances Group 1's balance sheet stability and supports vehicle financing and growth initiatives, reflecting strong lender relations. The facility includes contributions from major finance companies and banks.

On March 7, 2022, Group 1 Automotive (GPI) announced the acquisition of Charles Maund Toyota in Austin, Texas, which will be rebranded as Toyota of North Austin. This dealership is a top 20 national performer in Toyota new vehicle sales and is projected to add $435 million in annual revenue. The acquisition strengthens Group 1's presence in the growing Central Texas market, particularly as Austin's metro area has seen a population increase exceeding 30% from 2010 to 2020.

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.