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Mar 31, 2023
Group 1 Automotive Q1 2023 Earnings Report
Reported record first quarter results, driven by strong aftersales performance and new vehicle revenues.
Key Takeaways
Group 1 Automotive reported record first quarter financial results for 2023, including a record adjusted diluted earnings per share of $10.93 and record parts and service revenues and gross profit. Total revenues increased by 7.4% compared to the prior year quarter, driven by double-digit growth in new vehicle revenues and a rise in retail used vehicle units sold.
Total revenues increased by 7.4% year-over-year.
New vehicle revenues increased by 12.1% year-over-year.
Parts and service revenues and gross profit reached all-time quarterly records, increasing 16.0% and 14.4% year-over-year, respectively.
Diluted earnings per common share from continuing operations was $11.12, while adjusted diluted earnings per common share was $10.93.
Group 1 Automotive
Group 1 Automotive
Group 1 Automotive Revenue by Segment
Group 1 Automotive Revenue by Geographic Location
Revenue by Segment
New Vehicle Retail Sales Revenue
CapyFin.comUsed Vehicle Retail Sales Revenue
CapyFin.comUsed Vehicle Wholesale Sales Revenue
CapyFin.comParts and Service Sales Revenue
CapyFin.comFinance & Insurance Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comUnited Kingdom Revenue
CapyFin.com Forward Guidance
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements related to future, not past, events and are based on our current expectations and assumptions regarding our business, the economy and other future conditions.
Positive Outlook
- Strategic investments
- Goals
- Plans
- Projections
- Guidance regarding our financial position
Challenges Ahead
- General economic and business conditions
- The level of manufacturer incentives
- The future regulatory environment
- Our ability to obtain an inventory of desirable new and used vehicles
- Our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions
Revenue & Expenses
Visualization of income flow from segment revenue to net income