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Group 1 Automotive (GPI)
NYSE:GPI
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$9.09Last Year’s EPS
$9.5Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 18.43%
|Next Earnings Date:Feb 05, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong performance with record revenues and successful integration of acquisitions, bolstered by growth in aftersales and technician hiring. However, the company faced challenges from natural disasters and stop sale impacts, along with some operational hurdles in the U.K. The positive achievements largely outweighed the negative impacts.Company Guidance
During Group 1 Automotive's third-quarter 2024 earnings call, several key metrics and strategic updates were highlighted. The company reported all-time quarterly records with total revenues of $5.2 billion, new vehicle sales at $2.6 billion, used vehicle sales of $1.7 billion, parts and service revenues of $660 million, and F&I (Finance and Insurance) revenues of $214 million. The adjusted net income for the quarter stood at $133.5 million, with an adjusted diluted EPS from continuing operations of $9.90. In the U.S., the adjusted SG&A percentage of gross profit was 64.3%, reflecting efficient cost management. The U.K. business saw a 55.2% year-over-year increase in revenues following the acquisition of Inchcape, which added $2.7 billion in revenue. The company expects to achieve at least a 300 basis point reduction in SG&A as a result of integration activities. Group 1 also continued its capital allocation strategy, repurchasing 3.4% of the company for $138 million, contributing to a total of 24% stock repurchase over the past 33 months.Record Quarterly Revenue
Group 1 Automotive reported an all-time quarterly revenue record of $5.2 billion for Q3 2024, with record revenues across all business lines including new vehicle sales, used vehicle sales, parts and service revenues, and F&I.
Successful Integration of Inchcape Acquisition
The acquisition of Inchcape retail added $2.7 billion in revenue from 54 dealerships, with significant progress in integration expected to achieve a 300 basis point saving in U.K. SG&A.
U.S. Aftersales Growth
U.S. same-store service business grew by over 8%, and U.K. same-store service business grew over 13% in local currency in Q3.
Technician Headcount Increase
Group 1 added 8% additional technicians in the U.S., with a focus on retaining and hiring more to meet aftersales demand.
Share Repurchases
Group 1 repurchased 3.4% of its stock for $138 million in 2024, continuing a trend of share buybacks.
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GPI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GPI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $354.63 | $377.49 | +6.45% |
| Jul 24, 2024 | $304.04 | $324.94 | +6.87% |
| Apr 24, 2024 | $278.42 | $298.55 | +7.23% |
| Jan 31, 2024 | $280.69 | $258.59 | -7.87% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Group 1 Automotive (GPI) report earnings?
Group 1 Automotive (GPI) is schdueled to report earning on Feb 05, 2025, TBA Not Confirmed.
What is Group 1 Automotive (GPI) earnings time?
Group 1 Automotive (GPI) earnings time is at Feb 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GPI EPS forecast?
GPI EPS forecast for the fiscal quarter 2024 (Q4) is $9.09.
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