Streetbeat News

GPI

Group 1 Automotive, Inc.

https://www.group1auto.com

Industry

Auto - Dealerships

Group 1 Automotive, Inc., through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It operates primarily in 17 states in the United States; and 35 towns in the United Kingdom. As of July 11, 2022, the company owned and operated 204 automotive dealerships, 273 franchises, and 47 collision centers that offer 35 brands of automobiles. Group 1 Automotive, Inc. was incorporated in 1995 and is based in Houston, Texas.

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Group 1 Automotive has acquired four Mercedes-Benz dealerships in the UK from L&L Automotive, expected to generate $105 million in annual revenues. This acquisition adds to the $1.1 billion in acquired revenues year-to-date 2024, with total expected acquired revenues reaching $3.8 billion upon closing the pending Inchcape UK dealership acquisition.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 8:17 pm

CDK Global expects all car dealership systems to be fully restored by early July 4, following recent disruptions.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 3:02 pm

Group 1 Automotive (NYSE:GPI) has activated its cyber incident response procedures following a cybersecurity incident at third-party software provider CDK Global. The incident has disrupted Group 1's U.S. operations that rely on CDK's systems. Group 1's U.K. operations remain unaffected. CDK anticipates restoring its dealer management system within several days.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 10:17 am

CDK Global has extended its agreement with Group 1 Automotive to provide its U.S. franchise locations with the CDK Dealership Xperience platform. This platform will help modernize dealership operations through digital retailing, CRM, and F&I capabilities.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 12:28 pm

The Nasdaq 100 closed lower by over 80 points on Thursday. Notable insider sales were reported for Kirby Corporation, Group 1 Automotive, Archer-Daniels-Midland, and Morningstar. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced.

Portfolio Pulse from Avi Kapoor

May 24, 2024 | 12:27 pm

Group 1 Automotive, Inc. (NYSE:GPI) announced a new $250M share repurchase authorization and declared a quarterly dividend increase from $0.45 to $0.47 per share. The repurchase program was increased by $161M to the new total, with 205,551 shares already bought back at an average of $264.74 each. The dividend increase is part of a 4% rise in the annualized rate from $1.80 to $1.88 per share for 2024. Repurchases are to be funded by cash from operations and held in treasury.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:42 pm

JP Morgan analyst Rajat Gupta maintains an Overweight rating on Group 1 Automotive (NYSE:GPI) but lowers the price target from $315 to $310.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 4:32 pm

Hilton Worldwide Holdings Inc. reported better-than-expected Q1 financial results, leading to a 5.7% stock increase. Other companies like B. Riley Financial, MMTec, Ribbon Communications, Hasbro, Tesla, Vertiv Holdings, and several more also saw significant gains following positive financial results, guidance updates, or other favorable news.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 3:19 pm

Group 1 Automotive's stock is trading higher following the announcement of their Q1 financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:34 pm

Group 1 Automotive, Inc. (NYSE:GPI) reported Q1 earnings with adjusted EPS of $9.49, surpassing Wall Street expectations of $9.38, and revenues of $4.471 billion, exceeding forecasts of $4.379 billion. Sales increased by 8.2% YoY, while net income from continuing operations decreased by 7.2% YoY to $147.4 million. The company highlighted strong performance in the UK, with parts and service revenues up 5.1% YoY and UK total revenues up 4.7%. GPI also announced the acquisition of dealerships expected to generate $1.0 billion in annual revenues and the disposal of six dealerships in Texas. GPI shares rose 6.6% to $298.10.

Portfolio Pulse from Nabaparna Bhattacharya

April 24, 2024 | 2:24 pm

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