Group 1 Automotive Q2 2023 Earnings Report
Key Takeaways
Group 1 Automotive reported record financial results for Q2 2023, with all-time record quarterly total revenues of $4.6 billion and total gross profit of $775.5 million. The company saw significant growth in new vehicle and parts and service revenues.
Record quarterly total revenues and gross profit achieved.
All-time quarterly record new vehicle revenues, a 21.2% increase year-over-year.
Parts and service revenues set record for the 9th consecutive quarter, an 11.8% increase year-over-year.
Acquired three Buick-GMC dealerships and one Kia dealership in Texas, expected to generate $845.0 million of annual revenues.
Group 1 Automotive
Group 1 Automotive
Group 1 Automotive Revenue by Segment
Group 1 Automotive Revenue by Geographic Location
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income