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Dec 31, 2024
Group 1 Automotive Q4 2024 Earnings Report
Reported record revenues and earnings per share, driven by strong performance in both new and used vehicle sales, as well as parts and service.
Key Takeaways
Group 1 Automotive reported record fourth-quarter revenues of $5.5 billion, a 23.8% increase year-over-year. Diluted earnings per share from continuing operations were $7.08, while adjusted diluted earnings per share were $10.02. The company's performance was driven by growth in both new and used vehicle sales, as well as parts and service.
Total revenues increased by 23.8% to $5.5 billion.
Diluted earnings per share from continuing operations were $7.08.
Adjusted diluted earnings per share from continuing operations reached $10.02.
Gross profit increased by 20.3% to $879.2 million.
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
While the report does not contain specific forward guidance, it highlights ongoing restructuring efforts and integration of acquisitions, particularly in the UK, which are expected to position the company for future growth. Additionally, the company's focus remains on strategic acquisitions and efficient integration of new operations to drive shareholder value.
Positive Outlook
- Successful integration of dealership operations with total expected annual revenues of approximately $3.9 billion.
- Focus on quickly and efficiently integrating acquisitions into existing operations.
- Continued share repurchases, indicating confidence in the company's value.
- Ongoing restructuring actions to integrate Inchcape Retail stores in the UK.
- U.K. team is better positioned today than at any time in our history, with exceptional brand partners and a portfolio of dealerships that provide us geographic diversification across a broader U.K. market
Challenges Ahead
- Net income from continuing operations decreased by 13.1% compared to the prior year quarter.
- Impairment charges of $33.0 million primarily attributable to franchise rights intangible assets.
- Restructuring charges of $16.7 million due to integration activities in the UK.
- Conversion of the legacy Inchcape dealer management system hampered operations for a period of time.
- Decline in consolidated same store NV GP per retail unit
Revenue & Expenses
Visualization of income flow from segment revenue to net income