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Group 1 (GPI) misses earnings estimates but beats on revenues. While the bottom line falls 12.5% year over year, revenues rise 10%.
Group 1 Automotive, Inc. (GPI) Q4 2023 Earnings Call Transcript
While the top- and bottom-line numbers for Group 1 Automotive (GPI) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Group 1 Automotive (GPI) came out with quarterly earnings of $9.50 per share, missing the Zacks Consensus Estimate of $10.49 per share. This compares to earnings of $10.86 per share a year ago.
Group 1 Automotive Inc. said Wednesday it will reduce its U.K. workforce by 10% or roughly 358 people as the latest company to cut jobs to reduce costs in the face of an uncertain economy.
Get a deeper insight into the potential performance of Group 1 Automotive (GPI) for the quarter ended December 2023 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
HOUSTON , Jan. 16, 2024 /PRNewswire/ -- Group 1 Automotive, Inc. (NYSE: GPI) ("Group 1" or the "Company"), an international, Fortune 300 automotive retailer with 199 dealerships located in the U.S. and U.K., today announced that it will release financial results for the fourth quarter and full year ended December 31, 2023 on Wednesday, January 31, 2024, before the market opens. Daryl Kenningham, Group 1's president and chief executive officer, and the Company's senior management team will host a conference call to discuss the results later that morning at 10:00 a.m.
Group 1 Automotive CEO Daryl Kenningham joins 'Power Lunch' to discuss the state of the auto industry and more.
Retail Sales in the United States increased 4.1% year-on-year in November 2023, marking the strongest annual growth since February, following a downwardly revised 2.2% gain in October.
Group 1 Automotive shares have delivered a total return of 2530% since 1997, significantly outperforming the S&P 500. GPI competes in a highly competitive industry but enjoys advantages due to state regulations and scale. GPI has proven an effective consolidator of smaller auto dealerships and significant consolidation opportunities have potential to drive future growth.