Group 1 Automotive Broadcasts Report Fourth Quarter and Full Yr 2022 Monetary Outcomes
- Fourth Quarter and Full Yr Diluted Earnings Per Frequent Share from Persevering with Operations of $10.75 and $47.31, respectively, elevated 18.6% and 38.7%, over the comparable prior 12 months interval
- Full Yr Revenues and Gross Revenue of $16.2 billion and $3.0 billion, respectively, elevated 20.3% and 21.5%, over the comparable prior 12 months interval
- FY22 Share Repurchases of three,021,023 Shares; ~ 17.6% of Frequent Shares
HOUSTON, Jan. 25, 2023 /PRNewswire/ — Group 1 Automotive, Inc. (NYSE: GPI) (“Group 1” or the “Firm”), a global, Fortune 300 automotive retailer with 204 dealerships positioned within the U.S. and U.Okay., right this moment reported report fourth quarter (“present quarter”) and full 12 months 2022 (“present 12 months”) monetary outcomes.
Present 12 months complete revenues of $16.2 billion, complete gross revenue of $3.0 billion, and diluted earnings per frequent share from persevering with operations of $47.31 had been the best in Firm historical past. Consolidated revenues for the present 12 months noticed double digit progress throughout all main enterprise strains, and consolidated new car and components and repair gross revenue grew over 25.0% within the present 12 months, with components and repair gross revenue exceeding $1.0 billion for the primary time.
“I’m very pleased with our workforce for his or her excellent achievements this 12 months. Collectively, we delivered report revenues, gross revenue, and diluted earnings per frequent share from persevering with operations,” mentioned Daryl Kenningham, Group 1’s President and Chief Government Officer. “We added incremental scale by buying near $1 billion of revenues and continued to return capital to our shareholders by means of share repurchases, shopping for again roughly 18% of our excellent frequent shares in 2022. Because the business accelerates into new paradigms, that presents excellent alternatives for Group 1 to reveal our management. With our disciplined capital allocation and demonstrated working excellence in important areas of our enterprise, we’re very properly positioned to make the most of these adjustments sooner or later.”
Reconciliations for monetary outcomes, non-GAAP metrics, and diluted earnings per frequent share between persevering with and discontinued operations are included within the accompanying monetary tables.
Present Quarter Outcomes Overview
Complete revenues for the present quarter had been $4.1 billion, a 16.6% enhance in comparison with $3.5 billion for the fourth quarter of 2021 (“prior 12 months quarter”).
Web earnings from persevering with operations for the present quarter was $156.7 million, a 4.0% lower in comparison with $163.2 million for the prior 12 months quarter. Present quarter adjusted internet earnings from persevering with operations (a non-GAAP measure) was $158.4 million, a 6.7% lower in comparison with $169.9 million within the prior 12 months quarter.
Present quarter diluted earnings per frequent share from persevering with operations was $10.75, an 18.6% enhance in comparison with $9.06 for the prior 12 months quarter. Present quarter adjusted diluted earnings per frequent share from persevering with operations (a non-GAAP measure) was $10.86, a 15.2% enhance over the prior 12 months quarter of $9.43. Present quarter and prior 12 months quarter adjusted diluted earnings per frequent share from persevering with operations exclude adjusted diluted earnings per frequent share from discontinued operations of $0.01 and $0.10, respectively.
|
Fourth Quarter 2022 Key Efficiency Metrics (year-over-year comparable interval foundation) |
Consolidated |
Similar Retailer (a non-GAAP measure) |
||
|
Reported: |
4Q22 |
Change |
4Q22 |
Change |
|
Complete revenues |
$4.1B |
+16.6 % |
$3.6B |
+5.9 % |
|
Complete gross revenue (“GP”) |
$719.4M |
+7.2 % |
$624.1M |
(3.3) % |
|
NV items offered |
39,922 |
+12.2 % |
34,971 |
+2.5 % |
|
NV GP per retail unit (“PRU”) |
$5,195 |
(4.5) % |
$5,022 |
(7.7) % |
|
Used car (“UV”) retail items offered |
43,560 |
+16.8 % |
38,771 |
+7.0 % |
|
UV retail GP PRU |
$1,386 |
(42.9) % |
$1,367 |
(43.8) % |
|
Components & service (“P&S”) GP |
$281.1M |
+21.1 % |
$245.8M |
+10.5 % |
|
P&S Gross Margin (“GM”) |
54.2 % |
+1.3 % |
53.3 % |
+0.6 % |
|
Finance and Insurance coverage (“F&I”) revenues |
$172.7M |
+15.0 % |
$151.4M |
+4.5 % |
|
F&I GP PRU |
$2,068 |
+0.4 % |
$2,052 |
(0.3) % |
|
Promoting, Common and Administrative (“SG&A”) bills as a % of GP |
63.1 % |
+36 bps |
63.8 % |
+111 bps |
|
Adjusted SG&A bills (a non-GAAP measure) as a % of GP |
62.9 % |
+101 bps |
63.6 % |
+195 bps |
Full Yr 2022 Outcomes Overview
Present 12 months complete revenues had been $16.2 billion, a 20.3% enhance in comparison with $13.5 billion for the complete 12 months 2021 (“prior 12 months”).
Present 12 months internet earnings from persevering with operations was $754.2 million, a 20.6% enhance in comparison with $625.4 million for the prior 12 months. Present 12 months adjusted internet earnings from persevering with operations (a non-GAAP measure) was $728.7 million, a 15.0% enhance in comparison with $633.7 million for the prior 12 months.
Present 12 months diluted earnings per frequent share from persevering with operations was $47.31, a 38.7% enhance over $34.11 for the prior 12 months. Present 12 months adjusted diluted earnings per frequent share from persevering with operations (a non-GAAP measure) was $45.71, a 32.3% enhance over $34.55 for the prior 12 months. Present 12 months and prior 12 months adjusted diluted earnings per frequent share from persevering with operations exclude adjusted diluted earnings per frequent share from discontinued operations of $0.14 and $0.46, respectively.
|
Full Yr 2022 Key Efficiency Metrics (year-over-year comparable interval foundation) |
Consolidated |
Similar Retailer (a non-GAAP measure) |
||
|
Reported: |
FY22 |
Change |
FY22 |
Change |
|
Complete revenues |
$16.2B |
+20.3 % |
$13.7B |
+3.7 % |
|
Complete GP |
$3.0B |
+21.5 % |
$2.5B |
+4.0 % |
|
NV items offered |
154,714 |
+5.9 % |
128,684 |
(10.0) % |
|
NV GP PRU |
$5,336 |
+27.6 % |
$5,203 |
+24.9 % |
|
UV retail items offered |
184,700 |
+14.1 % |
158,848 |
(0.2) % |
|
UV retail GP PRU |
$1,699 |
(22.4) % |
$1,674 |
(23.7) % |
|
P&S GP |
$1.1B |
+27.0 % |
$934.7M |
+10.2 % |
|
P&S GM |
54.9 % |
+0.3 % |
53.9 % |
(0.6) % |
|
F&I revenues |
$722.2M |
+24.2 % |
$613.5M |
+7.8 % |
|
F&I GP PRU |
$2,128 |
+12.7 % |
$2,134 |
+13.3 % |
|
SG&A bills as a % of GP |
60.1 % |
(38) bps |
61.7 % |
+124 bps |
|
Adjusted SG&A bills (a non-GAAP measure) as a % of GP |
61.4 % |
+109 bps |
61.6 % |
+149 bps |
Company Growth
In December 2022, the Firm acquired Mercedes-Benz and Sprinter franchises in California. This acquisition is predicted to generate $200.0 million of annual revenues, bringing present 12 months complete acquired anticipated annual revenues to $940.0 million. From January 1, 2021 to December 31, 2022, the Firm has acquired complete anticipated annual revenues of $3.4 billion.
Share Repurchases
In the course of the present quarter, the Firm repurchased 973,365 shares, representing roughly 5.7% of the Firm’s present 12 months starting excellent frequent shares, at a mean worth per frequent share of $166.14, for a complete of $161.7 million. In the course of the present 12 months, the Firm repurchased 3,021,023 shares, representing roughly 17.6% of the Firm’s present 12 months starting excellent frequent shares, at a mean worth per frequent share of $172.54, for a complete of $521.2 million. As of December 31, 2022, the Firm had an mixture 14.3 million excellent frequent shares and unvested restricted inventory awards.
The Firm adopted a Rule 10b5-1 buying and selling plan that was efficient from January 3, 2023 to January 23, 2023. Below this plan, the Firm repurchased an extra 76,294 shares, at a mean worth of $179.42, for a complete price of $13.7 million. As of January 23, 2023, the Firm’s mixture excellent frequent shares and unvested restricted inventory awards approximates 14.2 million shares. The Firm at present has $149.7 million remaining on its Board licensed frequent share repurchase program.
Future repurchases could also be made every so often, based mostly on market situations, authorized necessities, and different company issues, within the open market or in privately negotiated transactions, and topic to Board approval and covenant restrictions.
Fourth Quarter and Full Yr 2022 Earnings Convention Name Particulars
Group 1’s senior administration will host a convention name right this moment at 10 a.m. ET to debate the fourth quarter and full 12 months 2022 monetary outcomes. The convention name will likely be simulcast reside on the Web at group1corp.com/occasions. A webcast replay will likely be accessible for 30 days.
The convention name can even be accessible reside by dialing in 10 minutes previous to the beginning of the decision at:
|
Home: |
1-888-317-6003 |
|
Worldwide: |
1-412-317-6061 |
|
Passcode: |
9229065 |
A telephonic replay will likely be accessible following the decision by means of February 1, 2023, by dialing:
|
Home: |
1-877-344-7529 |
|
Worldwide: |
1-412-317-0088 |
|
Replay Code: |
7685772 |
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 204 automotive dealerships, 275 franchises, and 46 collision facilities in the US and the United Kingdom that provide 35 manufacturers of vehicles. By means of its dealerships and omni-channel platform, the Firm sells new and used automobiles and lightweight vans; arranges associated car financing; sells service contracts; supplies automotive upkeep and restore companies; and sells car components.
Group 1 discloses further details about the Firm, its enterprise, and its outcomes of operations at www.group1corp.com, www.group1auto.com, www.group1collision.com, www.acceleride.com, www.fb.com/group1auto, and www.twitter.com/group1auto.
FORWARD-LOOKING STATEMENTS
This press launch comprises “forward-looking statements” throughout the that means of the Non-public Securities Litigation Reform Act of 1995, that are statements associated to future, not previous, occasions and are based mostly on our present expectations and assumptions relating to our enterprise, the economic system and different future situations. On this context, the forward-looking statements usually embody statements relating to our strategic investments, targets, plans, projections and steerage relating to our monetary place, outcomes of operations and enterprise technique, together with the annualized revenues of not too long ago accomplished acquisitions or tendencies and different advantages of such at present anticipated or not too long ago accomplished acquisitions or tendencies. These forward-looking statements usually comprise phrases corresponding to “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “ought to,” “foresee,” “might” or “will” and comparable expressions. Whereas administration believes that these forward-looking statements are affordable as and when made, there will be no assurance that future developments affecting us will likely be people who we anticipate. Any such forward-looking statements will not be assurances of future efficiency and contain dangers and uncertainties which will trigger precise outcomes to vary materially from these set forth within the statements. These dangers and uncertainties embody, amongst different issues, (a) normal financial and enterprise situations, (b) the extent of producer incentives, (c) the long run regulatory setting, (d) our means to acquire a listing of fascinating new and used autos, (e) our relationship with our vehicle producers and the willingness of producers to approve future acquisitions, (f) our price of financing and the provision of credit score for shoppers, (g) our means to finish acquisitions and tendencies and the dangers related therewith, (h) international alternate controls and foreign money fluctuations, (i) the impacts of COVID-19 and the armed battle in Ukraine on our enterprise and the availability chains upon which our enterprise depends, (j) the impacts of continued inflation and any potential world recession, (okay) our means to take care of enough liquidity to function, (l) the danger that proposed transactions is not going to be consummated in a well timed method, and (m) our means to efficiently combine latest and future acquisitions. For extra data relating to identified materials elements that would trigger our precise outcomes to vary from our projected outcomes, please see our filings with the Securities and Alternate Fee, together with our Annual Report on Type 10-Okay, Quarterly Stories on Type 10-Q and Present Stories on Type 8-Okay. Readers are cautioned to not place undue reliance on forward-looking statements, which converse solely as of the date hereof. We undertake no obligation to publicly replace or revise any forward-looking statements after the date they’re made, whether or not because of new data, future occasions or in any other case.
NON-GAAP FINANCIAL MEASURES, SAME STORE DATA, AND OTHER DATA
Along with evaluating the monetary situation and outcomes of our operations in accordance with U.S. GAAP, every so often our administration evaluates and analyzes outcomes and any impression on the Firm of strategic selections and actions referring to, amongst different issues, price discount, progress, profitability enchancment initiatives, and different occasions exterior of regular, or “core,” enterprise and operations, by contemplating various monetary measures not ready in accordance with U.S. GAAP. In our analysis of outcomes every so often, we exclude gadgets that don’t come up instantly from core operations, corresponding to non-cash asset impairment costs, out-of-period changes, authorized issues, good points and losses on dealership franchise or actual property transactions, and catastrophic occasions, corresponding to hailstorms, hurricanes, and snow storms. As a result of these non-core costs and good points materially have an effect on the Firm’s monetary situation or leads to the particular interval during which they’re acknowledged, administration additionally evaluates, and makes useful resource allocation and efficiency analysis selections based mostly on, the associated non-GAAP measures excluding such gadgets. This consists of evaluating measures corresponding to adjusted promoting, normal and administrative bills, adjusted internet earnings, adjusted diluted earnings per share, and fixed foreign money. These adjusted measures will not be measures of economic efficiency beneath U.S. GAAP, however are as an alternative thought-about non-GAAP monetary efficiency measures. Non-GAAP measures would not have definitions beneath U.S. GAAP and could also be outlined in another way by, and never be corresponding to equally titled measures utilized by, different firms. In consequence, any non-GAAP monetary measures thought-about and evaluated by administration are reviewed together with a overview of essentially the most instantly comparable measures calculated in accordance with U.S. GAAP. We warning buyers to not place undue reliance on such non-GAAP measures, but additionally to contemplate them with essentially the most instantly comparable U.S. GAAP measures.
Along with utilizing such non-GAAP measures to guage leads to a selected interval, administration believes that such measures might present extra full and constant comparisons of operational efficiency on a period-over-period historic foundation and a greater indication of anticipated future developments. Our administration additionally makes use of these adjusted measures together with U.S. GAAP monetary measures to evaluate our enterprise, together with communication with our Board of Administrators, buyers, and business analysts regarding monetary efficiency. We disclose these non-GAAP measures, and the associated reconciliations, as a result of we consider buyers use these metrics in evaluating longer-term period-over-period efficiency, and to permit buyers to higher perceive and consider the knowledge utilized by administration to evaluate working efficiency. The exclusion of sure bills within the calculation of non-GAAP monetary measures shouldn’t be construed as an inference that these prices are uncommon or rare. We anticipate excluding these bills sooner or later presentation of our non-GAAP monetary measures.
As well as, we consider our outcomes of operations on each an as reported and a continuing foreign money foundation. The fixed foreign money presentation, which is a non-GAAP measure, excludes the impression of fluctuations in international foreign money alternate charges. We consider offering fixed foreign money data supplies invaluable supplemental data relating to our underlying enterprise and outcomes of operations, in keeping with how we consider our efficiency. We calculate fixed foreign money percentages by changing our present interval reported outcomes for entities reporting in currencies aside from U.S. {dollars} utilizing comparative interval alternate charges relatively than the precise alternate charges in impact in the course of the respective durations. The fixed foreign money efficiency measures shouldn’t be thought-about an alternative to, or superior to, the measures of economic efficiency ready in accordance with U.S. GAAP. The Similar Retailer quantities offered embody the outcomes of dealerships for the equivalent months in every interval offered compared, commencing with the primary full month during which the dealership was owned by us and, within the case of tendencies, ending with the final full month it was owned by us. Similar Retailer outcomes additionally embody the actions of our company headquarters.
Sure quantities within the monetary statements might not compute as a consequence of rounding. All computations have been calculated utilizing unrounded quantities for all durations offered.
Investor contacts:
Jason Babbitt
Vice President, Treasurer
Group 1 Automotive, Inc.
[email protected]
Media contacts:
Pete DeLongchamps
Senior Vice President, Producer Relations, Monetary Providers and Public Affairs
Group 1 Automotive, Inc.
[email protected]
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223 | [email protected]
|
Group 1 Automotive, Inc. |
||||||||
|
Condensed Consolidated Statements of Operations |
||||||||
|
(Unaudited) |
||||||||
|
(In thousands and thousands, besides per share knowledge) |
||||||||
|
Three Months Ended December 31, |
||||||||
|
2022 |
2021 |
Improve/ |
% Change |
|||||
|
REVENUES: |
||||||||
|
New car retail gross sales |
$ 1,972.8 |
$ 1,676.2 |
$ 296.6 |
17.7 % |
||||
|
Used car retail gross sales |
1,319.4 |
1,136.6 |
182.8 |
16.1 % |
||||
|
Used car wholesale gross sales |
85.7 |
87.7 |
(2.0) |
(2.3) % |
||||
|
Components and repair gross sales |
518.4 |
439.0 |
79.5 |
18.1 % |
||||
|
Finance, insurance coverage and different, internet |
172.7 |
150.1 |
22.5 |
15.0 % |
||||
|
Complete revenues |
4,069.0 |
3,489.6 |
579.4 |
16.6 % |
||||
|
COST OF SALES: |
||||||||
|
New car retail gross sales |
1,765.4 |
1,482.6 |
282.8 |
19.1 % |
||||
|
Used car retail gross sales |
1,259.0 |
1,046.0 |
213.0 |
20.4 % |
||||
|
Used car wholesale gross sales |
87.8 |
82.9 |
4.8 |
5.8 % |
||||
|
Components and repair gross sales |
237.3 |
206.8 |
30.6 |
14.8 % |
||||
|
Complete price of gross sales |
3,349.5 |
2,818.3 |
531.2 |
18.8 % |
||||
|
GROSS PROFIT |
719.4 |
671.2 |
48.2 |
7.2 % |
||||
|
Promoting, normal and administrative bills |
453.8 |
420.9 |
32.8 |
7.8 % |
||||
|
Depreciation and amortization expense |
22.4 |
20.6 |
1.8 |
8.7 % |
||||
|
Asset impairments |
1.3 |
— |
1.3 |
100.0 % |
||||
|
INCOME FROM OPERATIONS |
241.9 |
229.7 |
12.3 |
5.3 % |
||||
|
Floorplan curiosity expense |
9.6 |
7.2 |
2.4 |
34.2 % |
||||
|
Different curiosity expense, internet |
22.0 |
16.0 |
6.0 |
37.7 % |
||||
|
Different expense |
4.6 |
— |
4.6 |
100.0 % |
||||
|
INCOME BEFORE INCOME TAXES |
205.7 |
206.5 |
(0.8) |
(0.4) % |
||||
|
Provision for earnings taxes |
48.9 |
43.3 |
5.6 |
13.0 % |
||||
|
Web earnings from persevering with operations |
156.7 |
163.2 |
(6.5) |
(4.0) % |
||||
|
Web earnings (loss) from discontinued operations |
0.2 |
(76.1) |
76.3 |
100.3 % |
||||
|
NET INCOME |
$ 157.0 |
$ 87.1 |
$ 69.9 |
80.2 % |
||||
|
Much less: Earnings allotted to taking part securities |
4.6 |
2.9 |
1.6 |
56.1 % |
||||
|
Web earnings accessible to diluted frequent shares |
$ 152.4 |
$ 84.2 |
$ 68.2 |
81.1 % |
||||
|
Diluted earnings per share from persevering with operations |
$ 10.75 |
$ 9.06 |
$ 1.69 |
18.6 % |
||||
|
Diluted earnings (loss) per share from discontinued operations |
$ 0.01 |
$ (4.23) |
$ 4.24 |
100.3 % |
||||
|
DILUTED EARNINGS PER SHARE |
$ 10.76 |
$ 4.84 |
$ 5.93 |
122.6 % |
||||
|
Weighted common dilutive frequent shares excellent |
14.2 |
17.4 |
(3.2) |
(18.6) % |
||||
|
Weighted common taking part securities |
0.4 |
0.6 |
(0.2) |
(30.5) % |
||||
|
Complete weighted common shares |
14.6 |
18.0 |
(3.4) |
(19.0) % |
||||
|
Efficient tax fee on persevering with operations |
23.8 % |
21.0 % |
2.8 % |
|||||
|
Group 1 Automotive, Inc. |
||||||||
|
Condensed Consolidated Statements of Operations |
||||||||
|
(Unaudited) |
||||||||
|
(In thousands and thousands, besides per share knowledge) |
||||||||
|
Years Ended December 31, |
||||||||
|
2022 |
2021 |
Improve/ |
% Change |
|||||
|
REVENUES: |
||||||||
|
New car retail gross sales |
$ 7,452.5 |
$ 6,504.8 |
$ 947.8 |
14.6 % |
||||
|
Used car retail gross sales |
5,673.3 |
4,438.8 |
1,234.5 |
27.8 % |
||||
|
Used car wholesale gross sales |
364.6 |
365.7 |
(1.2) |
(0.3) % |
||||
|
Components and repair gross sales |
2,009.5 |
1,591.2 |
418.4 |
26.3 % |
||||
|
Finance, insurance coverage and different, internet |
722.2 |
581.4 |
140.8 |
24.2 % |
||||
|
Complete revenues |
16,222.1 |
13,481.9 |
2,740.2 |
20.3 % |
||||
|
COST OF SALES: |
||||||||
|
New car retail gross sales |
6,627.0 |
5,894.0 |
733.0 |
12.4 % |
||||
|
Used car retail gross sales |
5,359.6 |
4,084.6 |
1,275.0 |
31.2 % |
||||
|
Used car wholesale gross sales |
364.6 |
340.9 |
23.7 |
7.0 % |
||||
|
Components and repair gross sales |
905.8 |
721.8 |
184.0 |
25.5 % |
||||
|
Complete price of gross sales |
13,256.9 |
11,041.2 |
2,215.7 |
20.1 % |
||||
|
GROSS PROFIT |
2,965.2 |
2,440.7 |
524.5 |
21.5 % |
||||
|
Promoting, normal and administrative bills |
1,783.3 |
1,477.2 |
306.2 |
20.7 % |
||||
|
Depreciation and amortization expense |
88.4 |
77.4 |
10.9 |
14.1 % |
||||
|
Asset impairments |
2.1 |
1.7 |
0.4 |
24.5 % |
||||
|
INCOME FROM OPERATIONS |
1,091.4 |
884.4 |
207.0 |
23.4 % |
||||
|
Floorplan curiosity expense |
27.3 |
27.6 |
(0.4) |
(1.3) % |
||||
|
Different curiosity expense, internet |
77.5 |
55.8 |
21.7 |
38.9 % |
||||
|
Different expense |
1.2 |
— |
1.2 |
100.0 % |
||||
|
INCOME BEFORE INCOME TAXES |
985.3 |
800.9 |
184.4 |
23.0 % |
||||
|
Provision for earnings taxes |
231.1 |
175.5 |
55.6 |
31.7 % |
||||
|
Web earnings from persevering with operations |
754.2 |
625.4 |
128.8 |
20.6 % |
||||
|
Web loss from discontinued operations |
(2.7) |
(73.3) |
70.6 |
(96.3) % |
||||
|
NET INCOME |
$ 751.5 |
$ 552.1 |
$ 199.4 |
36.1 % |
||||
|
Much less: Earnings allotted to taking part securities |
21.2 |
18.5 |
2.7 |
14.4 % |
||||
|
Web earnings accessible to diluted frequent shares |
$ 730.3 |
$ 533.6 |
$ 196.8 |
36.9 % |
||||
|
Diluted earnings per share from persevering with operations |
$ 47.31 |
$ 34.11 |
$ 13.20 |
38.7 % |
||||
|
Diluted loss per share from discontinued operations |
$ (0.17) |
$ (4.00) |
$ 3.83 |
(95.8) % |
||||
|
DILUTED EARNINGS PER SHARE |
$ 47.14 |
$ 30.11 |
$ 17.03 |
56.6 % |
||||
|
Weighted common dilutive frequent shares excellent |
15.5 |
17.7 |
(2.2) |
(12.6) % |
||||
|
Weighted common taking part securities |
0.5 |
0.6 |
(0.2) |
(27.2) % |
||||
|
Complete weighted common shares |
15.9 |
18.3 |
(2.4) |
(13.1) % |
||||
|
Efficient tax fee on persevering with operations |
23.5 % |
21.9 % |
1.5 % |
|||||
|
Group 1 Automotive, Inc. |
||||||||
|
Further Data — Consolidated |
||||||||
|
(Unaudited) |
||||||||
|
December 31, 2022 |
December 31, 2021 |
Improve/ |
% Change |
|||||
|
SELECTED BALANCE SHEET INFORMATION: |
||||||||
|
(In thousands and thousands) |
||||||||
|
Money and money equivalents |
$ 47.9 |
$ 14.9 |
$ 32.9 |
220.6 % |
||||
|
Inventories, internet |
$ 1,356.6 |
$ 1,073.1 |
$ 283.4 |
26.4 % |
||||
|
Floorplan notes payable, internet (1) |
$ 1,005.2 |
$ 531.0 |
$ 474.2 |
89.3 % |
||||
|
Complete debt |
$ 2,082.5 |
$ 2,035.7 |
$ 46.8 |
2.3 % |
||||
|
Complete fairness |
$ 2,237.5 |
$ 1,825.2 |
$ 412.2 |
22.6 % |
||||
|
(1) Quantities are internet of offset accounts of $153.6 and $271.9, respectively. |
||||||||
|
Three Months Ended December 31, |
Years Ended December 31, |
|||||||
|
2022 |
2021 |
2022 |
2021 |
|||||
|
NEW VEHICLE UNIT SALES GEOGRAPHIC MIX: |
||||||||
|
United States |
80.3 % |
81.6 % |
80.8 % |
80.9 % |
||||
|
United Kingdom |
19.7 % |
18.4 % |
19.2 % |
19.1 % |
||||
|
NEW VEHICLE UNIT SALES BRAND MIX: |
||||||||
|
Toyota/Lexus |
24.5 % |
21.5 % |
24.4 % |
24.6 % |
||||
|
Volkswagen/Audi/Porsche/SEAT/SKODA |
15.2 % |
13.8 % |
15.6 % |
15.4 % |
||||
|
BMW/MINI |
14.7 % |
15.5 % |
13.3 % |
12.3 % |
||||
|
Ford/Lincoln |
8.1 % |
9.7 % |
8.2 % |
8.9 % |
||||
|
Honda/Acura |
6.7 % |
8.5 % |
6.8 % |
8.6 % |
||||
|
Chevrolet/GMC/Buick/Cadillac |
7.0 % |
5.7 % |
6.6 % |
6.6 % |
||||
|
Mercedes-Benz/Sprinter |
5.9 % |
5.3 % |
6.1 % |
4.8 % |
||||
|
Chrysler/Dodge/Jeep/RAM |
3.8 % |
5.0 % |
4.8 % |
4.3 % |
||||
|
Hyundai/Kia/Genesis |
4.6 % |
4.7 % |
4.8 % |
5.3 % |
||||
|
Nissan |
3.8 % |
6.1 % |
3.7 % |
5.8 % |
||||
|
Subaru |
2.6 % |
2.0 % |
2.6 % |
1.6 % |
||||
|
Jaguar/Land Rover |
1.6 % |
1.1 % |
1.6 % |
1.6 % |
||||
|
Mazda |
1.2 % |
0.8 % |
1.2 % |
0.2 % |
||||
|
Different |
0.3 % |
0.2 % |
0.3 % |
0.1 % |
||||
|
100.0 % |
100.0 % |
100.0 % |
100.0 % |
|||||
|
December 31, 2022 |
December 31, 2021 |
|||
|
DAYS’ SUPPLY IN INVENTORY (1): |
||||
|
Consolidated |
||||
|
New car stock |
24 |
12 |
||
|
Used car stock |
34 |
42 |
||
|
U.S. |
||||
|
New car stock |
21 |
9 |
||
|
Used car stock |
28 |
36 |
||
|
U.Okay. |
||||
|
New car stock |
36 |
33 |
||
|
Used car stock |
63 |
66 |
|
(1) Days’ provide in stock is calculated based mostly on stock unit ranges and 30-day complete unit gross sales volumes, each on the finish of every reporting interval. |
|
Group 1 Automotive, Inc. |
||||||||||||
|
Reported Working Knowledge — Consolidated |
||||||||||||
|
(Unaudited) |
||||||||||||
|
(In thousands and thousands, besides unit knowledge) |
||||||||||||
|
Three Months Ended December 31, |
||||||||||||
|
2022 |
2021 |
Improve/ |
% Change |
Foreign money |
Fixed |
|||||||
|
Revenues: |
||||||||||||
|
New car retail gross sales |
$ 1,972.8 |
$ 1,676.2 |
$ 296.6 |
17.7 % |
$ (47.4) |
20.5 % |
||||||
|
Used car retail gross sales |
1,319.4 |
1,136.6 |
182.8 |
16.1 % |
(36.3) |
19.3 % |
||||||
|
Used car wholesale gross sales |
85.7 |
87.7 |
(2.0) |
(2.3) % |
(3.6) |
1.8 % |
||||||
|
Complete used |
1,405.1 |
1,224.3 |
180.8 |
14.8 % |
(39.9) |
18.0 % |
||||||
|
Components and repair gross sales |
518.4 |
439.0 |
79.5 |
18.1 % |
(9.8) |
20.3 % |
||||||
|
F&I, internet |
172.7 |
150.1 |
22.5 |
15.0 % |
(2.1) |
16.4 % |
||||||
|
Complete revenues |
$ 4,069.0 |
$ 3,489.6 |
$ 579.4 |
16.6 % |
$ (99.3) |
19.4 % |
||||||
|
Gross revenue: |
||||||||||||
|
New car retail gross sales |
$ 207.4 |
$ 193.6 |
$ 13.8 |
7.1 % |
$ (4.3) |
9.4 % |
||||||
|
Used car retail gross sales |
60.4 |
90.6 |
(30.2) |
(33.3) % |
(2.0) |
(31.1) % |
||||||
|
Used car wholesale gross sales |
(2.1) |
4.8 |
(6.9) |
(143.1) % |
0.1 |
(145.4) % |
||||||
|
Complete used |
58.3 |
95.4 |
(37.1) |
(38.9) % |
(1.9) |
(36.9) % |
||||||
|
Components and repair gross sales |
281.1 |
232.2 |
48.9 |
21.1 % |
(5.3) |
23.4 % |
||||||
|
F&I, internet |
172.7 |
150.1 |
22.5 |
15.0 % |
(2.1) |
16.4 % |
||||||
|
Complete gross revenue |
$ 719.4 |
$ 671.2 |
$ 48.2 |
7.2 % |
$ (13.7) |
9.2 % |
||||||
|
Gross margin: |
||||||||||||
|
New car retail gross sales |
10.5 % |
11.5 % |
(1.0) % |
|||||||||
|
Used car retail gross sales |
4.6 % |
8.0 % |
(3.4) % |
|||||||||
|
Used car wholesale gross sales |
(2.4) % |
5.5 % |
(7.9) % |
|||||||||
|
Complete used |
4.1 % |
7.8 % |
(3.6) % |
|||||||||
|
Components and repair gross sales |
54.2 % |
52.9 % |
1.3 % |
|||||||||
|
Complete gross margin |
17.7 % |
19.2 % |
(1.6) % |
|||||||||
|
Items offered: |
||||||||||||
|
Retail new autos offered |
39,922 |
35,573 |
4,349 |
12.2 % |
||||||||
|
Retail used autos offered |
43,560 |
37,298 |
6,262 |
16.8 % |
||||||||
|
Wholesale used autos offered |
9,003 |
8,218 |
785 |
9.6 % |
||||||||
|
Complete used |
52,563 |
45,516 |
7,047 |
15.5 % |
||||||||
|
Common gross sales worth per unit offered: |
||||||||||||
|
New car retail |
$ 49,416 |
$ 47,119 |
$ 2,297 |
4.9 % |
$ (1,188) |
7.4 % |
||||||
|
Used car retail |
$ 30,289 |
$ 30,472 |
$ (183) |
(0.6) % |
$ (833) |
2.1 % |
||||||
|
Gross revenue per unit offered: |
||||||||||||
|
New car retail gross sales |
$ 5,195 |
$ 5,441 |
$ (246) |
(4.5) % |
$ (108) |
(2.5) % |
||||||
|
Used car retail gross sales |
$ 1,386 |
$ 2,428 |
$ (1,042) |
(42.9) % |
$ (47) |
(41.0) % |
||||||
|
Used car wholesale gross sales |
$ (230) |
$ 585 |
$ (814) |
(139.3) % |
$ 13 |
(141.4) % |
||||||
|
Complete used |
$ 1,109 |
$ 2,095 |
$ (986) |
(47.1) % |
$ (36) |
(45.3) % |
||||||
|
F&I PRU |
$ 2,068 |
$ 2,060 |
$ 8 |
0.4 % |
$ (25) |
1.6 % |
||||||
|
Different: |
||||||||||||
|
SG&A bills |
$ 453.8 |
$ 420.9 |
$ 32.8 |
7.8 % |
$ (10.3) |
10.2 % |
||||||
|
Adjusted SG&A bills (1) |
$ 452.9 |
$ 415.8 |
$ 37.1 |
8.9 % |
$ (10.3) |
11.4 % |
||||||
|
SG&A as % gross revenue |
63.1 % |
62.7 % |
0.4 % |
|||||||||
|
Adjusted SG&A as % gross revenue (1) |
62.9 % |
61.9 % |
1.0 % |
|||||||||
|
Working margin % |
5.9 % |
6.6 % |
(0.6) % |
|||||||||
|
Adjusted working margin % (1) |
6.0 % |
6.7 % |
(0.7) % |
|||||||||
|
Pretax margin % |
5.1 % |
5.9 % |
(0.9) % |
|||||||||
|
Adjusted pretax margin % (1) |
5.1 % |
6.2 % |
(1.1) % |
|||||||||
|
Floorplan expense: |
||||||||||||
|
Floorplan curiosity expense |
$ 9.6 |
$ 7.2 |
$ 2.4 |
34.2 % |
$ (0.3) |
37.9 % |
||||||
|
Much less: Floorplan help (2) |
13.9 |
13.6 |
0.3 |
2.3 % |
— |
2.3 % |
||||||
|
Web floorplan expense |
$ (4.3) |
$ (6.4) |
$ 2.1 |
$ (0.3) |
||||||||
|
Adjusted floorplan curiosity expense (1) |
$ 9.6 |
$ 3.8 |
$ 5.8 |
153.0 % |
$ (0.3) |
160.0 % |
||||||
|
(1) See the part on this launch titled “Reconciliation of Sure Non-GAAP Monetary Measures” for the GAAP to non-GAAP reconciliation of those figures. |
|
(2) Floorplan help is included inside New car retail Gross revenue above and New car retail Price of gross sales in our Condensed Consolidated Statements of Operations. |
|
Group 1 Automotive, Inc. |
||||||||||||
|
Reported Working Knowledge — Consolidated |
||||||||||||
|
(Unaudited) |
||||||||||||
|
(In thousands and thousands, besides unit knowledge) |
||||||||||||
|
Years Ended December 31, |
||||||||||||
|
2022 |
2021 |
Improve/ |
% Change |
Foreign money |
Fixed |
|||||||
|
Revenues: |
||||||||||||
|
New car retail gross sales |
$ 7,452.5 |
$ 6,504.8 |
$ 947.8 |
14.6 % |
$ (146.4) |
16.8 % |
||||||
|
Used car retail gross sales |
5,673.3 |
4,438.8 |
1,234.5 |
27.8 % |
(126.8) |
30.7 % |
||||||
|
Used car wholesale gross sales |
364.6 |
365.7 |
(1.2) |
(0.3) % |
(13.3) |
3.3 % |
||||||
|
Complete used |
6,037.9 |
4,804.6 |
1,233.3 |
25.7 % |
(140.2) |
28.6 % |
||||||
|
Components and repair gross sales |
2,009.5 |
1,591.2 |
418.4 |
26.3 % |
(28.9) |
28.1 % |
||||||
|
F&I, internet |
722.2 |
581.4 |
140.8 |
24.2 % |
(7.4) |
25.5 % |
||||||
|
Complete revenues |
$ 16,222.1 |
$ 13,481.9 |
$ 2,740.2 |
20.3 % |
$ (322.8) |
22.7 % |
||||||
|
Gross revenue: |
||||||||||||
|
New car retail gross sales |
$ 825.6 |
$ 610.8 |
$ 214.8 |
35.2 % |
$ (13.3) |
37.3 % |
||||||
|
Used car retail gross sales |
313.8 |
354.2 |
(40.5) |
(11.4) % |
(6.9) |
(9.5) % |
||||||
|
Used car wholesale gross sales |
— |
24.9 |
(24.9) |
(100.0) % |
0.3 |
(101.2) % |
||||||
|
Complete used |
313.8 |
379.1 |
(65.3) |
(17.2) % |
(6.6) |
(15.5) % |
||||||
|
Components and repair gross sales |
1,103.7 |
869.4 |
234.3 |
27.0 % |
(16.6) |
28.9 % |
||||||
|
F&I, internet |
722.2 |
581.4 |
140.8 |
24.2 % |
(7.4) |
25.5 % |
||||||
|
Complete gross revenue |
$ 2,965.2 |
$ 2,440.7 |
$ 524.5 |
21.5 % |
$ (44.2) |
23.3 % |
||||||
|
Gross margin: |
||||||||||||
|
New car retail gross sales |
11.1 % |
9.4 % |
1.7 % |
|||||||||
|
Used car retail gross sales |
5.5 % |
8.0 % |
(2.4) % |
|||||||||
|
Used car wholesale gross sales |
— % |
6.8 % |
(6.8) % |
|||||||||
|
Complete used |
5.2 % |
7.9 % |
(2.7) % |
|||||||||
|
Components and repair gross sales |
54.9 % |
54.6 % |
0.3 % |
|||||||||
|
Complete gross margin |
18.3 % |
18.1 % |
0.2 % |
|||||||||
|
Items offered: |
||||||||||||
|
Retail new autos offered |
154,714 |
146,072 |
8,642 |
5.9 % |
||||||||
|
Retail used autos offered |
184,700 |
161,857 |
22,843 |
14.1 % |
||||||||
|
Wholesale used autos offered |
37,072 |
39,486 |
(2,414) |
(6.1) % |
||||||||
|
Complete used |
221,772 |
201,343 |
20,429 |
10.1 % |
||||||||
|
Common gross sales worth per unit offered: |
||||||||||||
|
New car retail |
$ 48,170 |
$ 44,531 |
$ 3,639 |
8.2 % |
$ (946) |
10.3 % |
||||||
|
Used car retail |
$ 30,716 |
$ 27,424 |
$ 3,292 |
12.0 % |
$ (687) |
14.5 % |
||||||
|
Gross revenue per unit offered: |
||||||||||||
|
New car retail gross sales |
$ 5,336 |
$ 4,181 |
$ 1,155 |
27.6 % |
$ (86) |
29.7 % |
||||||
|
Used car retail gross sales |
$ 1,699 |
$ 2,189 |
$ (490) |
(22.4) % |
$ (38) |
(20.7) % |
||||||
|
Used car wholesale gross sales |
$ — |
$ 630 |
$ (630) |
(100.0) % |
$ 8 |
(101.3) % |
||||||
|
Complete used |
$ 1,415 |
$ 1,883 |
$ (468) |
(24.9) % |
$ (30) |
(23.3) % |
||||||
|
F&I PRU |
$ 2,128 |
$ 1,888 |
$ 240 |
12.7 % |
$ (22) |
13.8 % |
||||||
|
Different: |
||||||||||||
|
SG&A bills |
$ 1,783.3 |
$ 1,477.2 |
$ 306.2 |
20.7 % |
$ (30.7) |
22.8 % |
||||||
|
Adjusted SG&A bills (1) |
$ 1,819.2 |
$ 1,470.7 |
$ 348.5 |
23.7 % |
$ (30.6) |
25.8 % |
||||||
|
SG&A as % gross revenue |
60.1 % |
60.5 % |
(0.4) % |
|||||||||
|
Adjusted SG&A as % gross revenue (1) |
61.4 % |
60.3 % |
1.1 % |
|||||||||
|
Working margin % |
6.7 % |
6.6 % |
0.2 % |
|||||||||
|
Adjusted working margin % (1) |
6.5 % |
6.6 % |
(0.1) % |
|||||||||
|
Pretax margin % |
6.1 % |
5.9 % |
0.1 % |
|||||||||
|
Adjusted pretax margin % (1) |
5.9 % |
6.0 % |
(0.2) % |
|||||||||
|
Floorplan expense: |
||||||||||||
|
Floorplan curiosity expense |
$ 27.3 |
$ 27.6 |
$ (0.4) |
(1.3) % |
$ (0.7) |
1.2 % |
||||||
|
Much less: Floorplan help (2) |
56.0 |
54.2 |
1.8 |
3.3 % |
— |
3.3 % |
||||||
|
Web floorplan expense |
$ (28.7) |
$ (26.5) |
$ (2.1) |
$ (0.7) |
||||||||
|
Adjusted floorplan curiosity expense (1) |
$ 27.3 |
$ 22.9 |
$ 4.4 |
19.4 % |
$ (0.7) |
22.5 % |
||||||
|
(1) See the part on this launch titled “Reconciliation of Sure Non-GAAP Monetary Measures” for the GAAP to non-GAAP reconciliation of those figures. |
|
(2) Floorplan help is included inside New car retail Gross revenue above and New car retail Price of gross sales in our Condensed Consolidated Statements of Operations. |
|
Group 1 Automotive, Inc. |
||||||||
|
Reported Working Knowledge — U.S. |
||||||||
|
(Unaudited) |
||||||||
|
(In thousands and thousands, besides unit knowledge) |
||||||||
|
Three Months Ended December 31, |
||||||||
|
2022 |
2021 |
Improve/ |
% Change |
|||||
|
Revenues: |
||||||||
|
New car retail gross sales |
$ 1,656.7 |
$ 1,412.5 |
$ 244.2 |
17.3 % |
||||
|
Used car retail gross sales |
1,083.9 |
874.6 |
209.3 |
23.9 % |
||||
|
Used car wholesale gross sales |
61.1 |
52.6 |
8.5 |
16.2 % |
||||
|
Complete used |
1,145.0 |
927.2 |
217.8 |
23.5 % |
||||
|
Components and repair gross sales |
453.6 |
379.4 |
74.2 |
19.6 % |
||||
|
F&I, internet |
158.8 |
135.6 |
23.3 |
17.2 % |
||||
|
Complete revenues |
$ 3,414.2 |
$ 2,854.7 |
$ 559.6 |
19.6 % |
||||
|
Gross revenue: |
||||||||
|
New car retail gross sales |
$ 175.0 |
$ 170.8 |
$ 4.2 |
2.5 % |
||||
|
Used car retail gross sales |
47.3 |
71.0 |
(23.7) |
(33.3) % |
||||
|
Used car wholesale gross sales |
(1.2) |
3.7 |
(5.0) |
(133.0) % |
||||
|
Complete used |
46.1 |
74.8 |
(28.6) |
(38.3) % |
||||
|
Components and repair gross sales |
245.9 |
197.1 |
48.8 |
24.8 % |
||||
|
F&I, internet |
158.8 |
135.6 |
23.3 |
17.2 % |
||||
|
Complete gross revenue |
$ 625.8 |
$ 578.1 |
$ 47.7 |
8.3 % |
||||
|
Gross margin: |
||||||||
|
New car retail gross sales |
10.6 % |
12.1 % |
(1.5) % |
|||||
|
Used car retail gross sales |
4.4 % |
8.1 % |
(3.8) % |
|||||
|
Used car wholesale gross sales |
(2.0) % |
7.1 % |
(9.1) % |
|||||
|
Complete used |
4.0 % |
8.1 % |
(4.0) % |
|||||
|
Components and repair gross sales |
54.2 % |
51.9 % |
2.3 % |
|||||
|
Complete gross margin |
18.3 % |
20.3 % |
(1.9) % |
|||||
|
Items offered: |
||||||||
|
Retail new autos offered |
32,064 |
29,028 |
3,036 |
10.5 % |
||||
|
Retail used autos offered |
34,997 |
29,266 |
5,731 |
19.6 % |
||||
|
Wholesale used autos offered |
6,563 |
4,986 |
1,577 |
31.6 % |
||||
|
Complete used |
41,560 |
34,252 |
7,308 |
21.3 % |
||||
|
Common gross sales worth per unit offered: |
||||||||
|
New car retail |
$ 51,670 |
$ 48,661 |
$ 3,009 |
6.2 % |
||||
|
Used car retail |
$ 30,971 |
$ 29,883 |
$ 1,088 |
3.6 % |
||||
|
Gross revenue per unit offered: |
||||||||
|
New car retail gross sales |
$ 5,458 |
$ 5,883 |
$ (425) |
(7.2) % |
||||
|
Used car retail gross sales |
$ 1,353 |
$ 2,427 |
$ (1,074) |
(44.3) % |
||||
|
Used car wholesale gross sales |
$ (188) |
$ 748 |
$ (935) |
(125.1) % |
||||
|
Complete used |
$ 1,110 |
$ 2,182 |
$ (1,073) |
(49.2) % |
||||
|
F&I PRU |
$ 2,369 |
$ 2,325 |
$ 43 |
1.9 % |
||||
|
Different: |
||||||||
|
SG&A bills |
$ 383.8 |
$ 352.0 |
$ 31.9 |
9.1 % |
||||
|
Adjusted SG&A bills (1) |
$ 383.0 |
$ 346.8 |
$ 36.2 |
10.4 % |
||||
|
SG&A as % gross revenue |
61.3 % |
60.9 % |
0.5 % |
|||||
|
Adjusted SG&A as % gross revenue (1) |
61.2 % |
60.0 % |
1.2 % |
|||||
|
(1) See the part on this launch titled “Reconciliation of Sure Non-GAAP Monetary Measures” for the GAAP to non-GAAP reconciliation of those figures. |
|
Group 1 Automotive, Inc. |
||||||||
|
Reported Working Knowledge — U.S. |
||||||||
|
(Unaudited) |
||||||||
|
(In thousands and thousands, besides unit knowledge) |
||||||||
|
Years Ended December 31, |
||||||||
|
2022 |
2021 |
Improve/ |
% Change |
|||||
|
Revenues: |
||||||||
|
New car retail gross sales |
$ 6,238.5 |
$ 5,371.4 |
$ 867.1 |
16.1 % |
||||
|
Used car retail gross sales |
4,531.5 |
3,356.3 |
1,175.2 |
35.0 % |
||||
|
Used car wholesale gross sales |
238.8 |
232.2 |
6.6 |
2.8 % |
||||
|
Complete used |
4,770.2 |
3,588.5 |
1,181.8 |
32.9 % |
||||
|
Components and repair gross sales |
1,761.4 |
1,361.4 |
399.9 |
29.4 % |
||||
|
F&I, internet |
656.9 |
525.0 |
132.0 |
25.1 % |
||||
|
Complete revenues |
$ 13,427.1 |
$ 10,846.3 |
$ 2,580.8 |
23.8 % |
||||
|
Gross revenue: |
||||||||
|
New car retail gross sales |
$ 713.5 |
$ 533.4 |
$ 180.2 |
33.8 % |
||||
|
Used car retail gross sales |
250.3 |
281.8 |
(31.5) |
(11.2) % |
||||
|
Used car wholesale gross sales |
2.6 |
17.3 |
(14.7) |
(85.0) % |
||||
|
Complete used |
252.9 |
299.0 |
(46.1) |
(15.4) % |
||||
|
Components and repair gross sales |
959.0 |
732.1 |
226.8 |
31.0 % |
||||
|
F&I, internet |
656.9 |
525.0 |
132.0 |
25.1 % |
||||
|
Complete gross revenue |
$ 2,582.3 |
$ 2,089.5 |
$ 492.8 |
23.6 % |
||||
|
Gross margin: |
||||||||
|
New car retail gross sales |
11.4 % |
9.9 % |
1.5 % |
|||||
|
Used car retail gross sales |
5.5 % |
8.4 % |
(2.9) % |
|||||
|
Used car wholesale gross sales |
1.1 % |
7.4 % |
(6.4) % |
|||||
|
Complete used |
5.3 % |
8.3 % |
(3.0) % |
|||||
|
Components and repair gross sales |
54.4 % |
53.8 % |
0.7 % |
|||||
|
Complete gross margin |
19.2 % |
19.3 % |
— % |
|||||
|
Items offered: |
||||||||
|
Retail new autos offered |
124,934 |
118,211 |
6,723 |
5.7 % |
||||
|
Retail used autos offered |
145,632 |
125,409 |
20,223 |
16.1 % |
||||
|
Wholesale used autos offered |
25,076 |
24,790 |
286 |
1.2 % |
||||
|
Complete used |
170,708 |
150,199 |
20,509 |
13.7 % |
||||
|
Common gross sales worth per unit offered: |
||||||||
|
New car retail |
$ 49,934 |
$ 45,439 |
$ 4,495 |
9.9 % |
||||
|
Used car retail |
$ 31,116 |
$ 26,763 |
$ 4,353 |
16.3 % |
||||
|
Gross revenue per unit offered: |
||||||||
|
New car retail gross sales |
$ 5,711 |
$ 4,512 |
$ 1,199 |
26.6 % |
||||
|
Used car retail gross sales |
$ 1,719 |
$ 2,247 |
$ (528) |
(23.5) % |
||||
|
Used car wholesale gross sales |
$ 104 |
$ 697 |
$ (594) |
(85.1) % |
||||
|
Complete used |
$ 1,481 |
$ 1,991 |
$ (509) |
(25.6) % |
||||
|
F&I PRU |
$ 2,428 |
$ 2,155 |
$ 273 |
12.7 % |
||||
|
Different: |
||||||||
|
SG&A bills |
$ 1,516.9 |
$ 1,234.9 |
$ 281.9 |
22.8 % |
||||
|
Adjusted SG&A bills (1) |
$ 1,551.3 |
$ 1,229.6 |
$ 321.7 |
26.2 % |
||||
|
SG&A as % gross revenue |
58.7 % |
59.1 % |
(0.4) % |
|||||
|
Adjusted SG&A as % gross revenue (1) |
60.1 % |
58.8 % |
1.2 % |
|||||
|
(1) See the part on this launch titled “Reconciliation of Sure Non-GAAP Monetary Measures” for the GAAP to non-GAAP reconciliation of those figures. |
|
Group 1 Automotive, Inc. |
||||||||||||
|
Reported Working Knowledge — U.Okay. |
||||||||||||
|
(Unaudited) |
||||||||||||
|
(In thousands and thousands, besides unit knowledge) |
||||||||||||
|
Three Months Ended December 31, |
||||||||||||
|
2022 |
2021 |
Improve/ |
% Change |
Foreign money |
Fixed |
|||||||
|
Revenues: |
||||||||||||
|
New car retail gross sales |
$ 316.0 |
$ 263.6 |
$ 52.4 |
19.9 % |
$ (47.4) |
37.9 % |
||||||
|
Used car retail gross sales |
235.5 |
262.0 |
(26.5) |
(10.1) % |
(36.3) |
3.7 % |
||||||
|
Used car wholesale gross sales |
24.6 |
35.2 |
(10.6) |
(30.0) % |
(3.6) |
(19.7) % |
||||||
|
Complete used |
260.1 |
297.1 |
(37.1) |
(12.5) % |
(39.9) |
1.0 % |
||||||
|
Components and repair gross sales |
64.8 |
59.6 |
5.2 |
8.8 % |
(9.8) |
25.3 % |
||||||
|
F&I, internet |
13.8 |
14.6 |
(0.8) |
(5.2) % |
(2.1) |
9.1 % |
||||||
|
Complete revenues |
$ 654.8 |
$ 634.9 |
$ 19.9 |
3.1 % |
$ (99.3) |
18.8 % |
||||||
|
Gross revenue: |
||||||||||||
|
New car retail gross sales |
$ 32.4 |
$ 22.8 |
$ 9.6 |
42.1 % |
$ (4.3) |
61.0 % |
||||||
|
Used car retail gross sales |
13.0 |
19.5 |
(6.5) |
(33.3) % |
(2.0) |
(22.9) % |
||||||
|
Used car wholesale gross sales |
(0.8) |
1.1 |
(1.9) |
NM |
0.1 |
NM |
||||||
|
Complete used |
12.2 |
20.6 |
(8.4) |
(40.8) % |
(1.9) |
(31.5) % |
||||||
|
Components and repair gross sales |
35.2 |
35.1 |
0.1 |
0.3 % |
(5.3) |
15.4 % |
||||||
|
F&I, internet |
13.8 |
14.6 |
(0.8) |
(5.2) % |
(2.1) |
9.1 % |
||||||
|
Complete gross revenue |
$ 93.6 |
$ 93.1 |
$ 0.5 |
0.6 % |
$ (13.7) |
15.3 % |
||||||
|
Gross margin: |
||||||||||||
|
New car retail gross sales |
10.2 % |
8.6 % |
1.6 % |
|||||||||
|
Used car retail gross sales |
5.5 % |
7.5 % |
(1.9) % |
|||||||||
|
Used car wholesale gross sales |
(3.4) % |
3.1 % |
(6.5) % |
|||||||||
|
Complete used |
4.7 % |
6.9 % |
(2.2) % |
|||||||||
|
Components and repair gross sales |
54.3 % |
59.0 % |
(4.6) % |
|||||||||
|
Complete gross margin |
14.3 % |
14.7 % |
(0.4) % |
|||||||||
|
Items offered: |
||||||||||||
|
Retail new autos offered |
7,858 |
6,545 |
1,313 |
20.1 % |
||||||||
|
Retail used autos offered |
8,563 |
8,032 |
531 |
6.6 % |
||||||||
|
Wholesale used autos offered |
2,440 |
3,232 |
(792) |
(24.5) % |
||||||||
|
Complete used |
11,003 |
11,264 |
(261) |
(2.3) % |
||||||||
|
Common gross sales worth per unit offered: |
||||||||||||
|
New car retail |
$ 40,220 |
$ 40,279 |
$ (59) |
(0.1) % |
$ (6,037) |
14.8 % |
||||||
|
Used car retail |
$ 27,501 |
$ 32,619 |
$ (5,118) |
(15.7) % |
$ (4,240) |
(2.7) % |
||||||
|
Gross revenue per unit offered: |
||||||||||||
|
New car retail gross sales |
$ 4,122 |
$ 3,482 |
$ 640 |
18.4 % |
$ (549) |
34.1 % |
||||||
|
Used car retail gross sales |
$ 1,521 |
$ 2,431 |
$ (910) |
(37.4) % |
$ (237) |
(27.7) % |
||||||
|
Used car wholesale gross sales |
$ (343) |
$ 333 |
$ (677) |
NM |
$ 46 |
NM |
||||||
|
Complete used |
$ 1,108 |
$ 1,829 |
$ (722) |
(39.4) % |
$ (174) |
(29.9) % |
||||||
|
F&I PRU |
$ 841 |
$ 999 |
$ (158) |
(15.8) % |
$ (127) |
(3.2) % |
||||||
|
Different: |
||||||||||||
|
SG&A bills |
$ 69.9 |
$ 69.0 |
$ 0.9 |
1.4 % |
$ (10.3) |
16.3 % |
||||||
|
SG&A as % gross revenue |
74.7 % |
74.1 % |
0.6 % |
|||||||||
|
Group 1 Automotive, Inc. |
||||||||||||
|
Reported Working Knowledge — U.Okay. |
||||||||||||
|
(Unaudited) |
||||||||||||
|
(In thousands and thousands, besides unit knowledge) |
||||||||||||
|
Years Ended December 31, |
||||||||||||
|
2022 |
2021 |
Improve/ |
% Change |
Foreign money |
Fixed |
|||||||
|
Revenues: |
||||||||||||
|
New car retail gross sales |
$ 1,214.0 |
$ 1,133.3 |
$ 80.7 |
7.1 % |
$ (146.4) |
20.0 % |
||||||
|
Used car retail gross sales |
1,141.8 |
1,082.5 |
59.3 |
5.5 % |
(126.8) |
17.2 % |
||||||
|
Used car wholesale gross sales |
125.8 |
133.6 |
(7.8) |
(5.8) % |
(13.3) |
4.2 % |
||||||
|
Complete used |
1,267.6 |
1,216.1 |
51.5 |
4.2 % |
(140.2) |
15.8 % |
||||||
|
Components and repair gross sales |
248.2 |
229.8 |
18.4 |
8.0 % |
(28.9) |
20.6 % |
||||||
|
F&I, internet |
65.2 |
56.4 |
8.8 |
15.6 % |
(7.4) |
28.7 % |
||||||
|
Complete revenues |
$ 2,795.1 |
$ 2,635.6 |
$ 159.4 |
6.0 % |
$ (322.8) |
18.3 % |
||||||
|
Gross revenue: |
||||||||||||
|
New car retail gross sales |
$ 112.0 |
$ 77.4 |
$ 34.6 |
44.7 % |
$ (13.3) |
61.9 % |
||||||
|
Used car retail gross sales |
63.5 |
72.5 |
(9.0) |
(12.4) % |
(6.9) |
(2.9) % |
||||||
|
Used car wholesale gross sales |
(2.6) |
7.6 |
(10.2) |
(134.4) % |
0.3 |
(138.3) % |
||||||
|
Complete used |
60.9 |
80.1 |
(19.2) |
(24.0) % |
(6.6) |
(15.7) % |
||||||
|
Components and repair gross sales |
144.7 |
137.3 |
7.5 |
5.5 % |
(16.6) |
17.6 % |
||||||
|
F&I, internet |
65.2 |
56.4 |
8.8 |
15.6 % |
(7.4) |
28.7 % |
||||||
|
Complete gross revenue |
$ 382.9 |
$ 351.2 |
$ 31.7 |
9.0 % |
$ (44.2) |
21.6 % |
||||||
|
Gross margin: |
||||||||||||
|
New car retail gross sales |
9.2 % |
6.8 % |
2.4 % |
|||||||||
|
Used car retail gross sales |
5.6 % |
6.7 % |
(1.1) % |
|||||||||
|
Used car wholesale gross sales |
(2.1) % |
5.7 % |
(7.8) % |
|||||||||
|
Complete used |
4.8 % |
6.6 % |
(1.8) % |
|||||||||
|
Components and repair gross sales |
58.3 % |
59.7 % |
(1.4) % |
|||||||||
|
Complete gross margin |
13.7 % |
13.3 % |
0.4 % |
|||||||||
|
Items offered: |
||||||||||||
|
Retail new autos offered |
29,780 |
27,861 |
1,919 |
6.9 % |
||||||||
|
Retail used autos offered |
39,068 |
36,448 |
2,620 |
7.2 % |
||||||||
|
Wholesale used autos offered |
11,996 |
14,696 |
(2,700) |
(18.4) % |
||||||||
|
Complete used |
51,064 |
51,144 |
(80) |
(0.2) % |
||||||||
|
Common gross sales worth per unit offered: |
||||||||||||
|
New car retail |
$ 40,766 |
$ 40,678 |
$ 88 |
0.2 % |
$ (4,915) |
12.3 % |
||||||
|
Used car retail |
$ 29,227 |
$ 29,701 |
$ (474) |
(1.6) % |
$ (3,247) |
9.3 % |
||||||
|
Gross revenue per unit offered: |
||||||||||||
|
New car retail gross sales |
$ 3,762 |
$ 2,779 |
$ 983 |
35.4 % |
$ (448) |
51.5 % |
||||||
|
Used car retail gross sales |
$ 1,624 |
$ 1,988 |
$ (364) |
(18.3) % |
$ (177) |
(9.4) % |
||||||
|
Used car wholesale gross sales |
$ (217) |
$ 516 |
$ (734) |
(142.1) % |
$ 25 |
(146.9) % |
||||||
|
Complete used |
$ 1,192 |
$ 1,565 |
$ (374) |
(23.9) % |
$ (130) |
(15.6) % |
||||||
|
F&I PRU |
$ 948 |
$ 878 |
$ 70 |
8.0 % |
$ (107) |
20.2 % |
||||||
|
Different: |
||||||||||||
|
SG&A bills |
$ 266.5 |
$ 242.2 |
$ 24.2 |
10.0 % |
$ (30.7) |
22.7 % |
||||||
|
Adjusted SG&A bills (1) |
$ 267.9 |
$ 241.1 |
$ 26.8 |
11.1 % |
$ (30.6) |
23.8 % |
||||||
|
SG&A as % gross revenue |
69.6 % |
69.0 % |
0.6 % |
|||||||||
|
Adjusted SG&A as % gross revenue (1) |
70.0 % |
68.7 % |
1.3 % |
|||||||||
|
(1) See the part on this launch titled “Reconciliation of Sure Non-GAAP Monetary Measures” for the GAAP to non-GAAP reconciliation of those figures. |
|
Group 1 Automotive, Inc. |
|||||||||||||
|
Similar Retailer Working Knowledge — Consolidated |
|||||||||||||
|
(Unaudited) |
|||||||||||||
|
(In thousands and thousands, besides unit knowledge) |
|||||||||||||
|
Three Months Ended December 31, |
|||||||||||||
|
2022 |
2021 |
Improve/ |
% Change |
Foreign money |
Fixed |
||||||||
|
Revenues: |
|||||||||||||
|
New car retail gross sales |
$ 1,715.3 |
$ 1,609.7 |
$ 105.6 |
6.6 % |
$ (46.0) |
9.4 % |
|||||||
|
Used car retail gross sales |
1,164.9 |
1,105.9 |
59.0 |
5.3 % |
(35.3) |
8.5 % |
|||||||
|
Used car wholesale gross sales |
74.5 |
86.2 |
(11.7) |
(13.5) % |
(3.5) |
(9.5) % |
|||||||
|
Complete used |
1,239.4 |
1,192.1 |
47.3 |
4.0 % |
(38.8) |
7.2 % |
|||||||
|
Components and repair gross sales |
461.2 |
421.9 |
39.2 |
9.3 % |
(9.0) |
11.4 % |
|||||||
|
F&I, internet |
151.4 |
144.8 |
6.6 |
4.5 % |
(2.0) |
5.9 % |
|||||||
|
Complete revenues |
$ 3,567.2 |
$ 3,368.5 |
$ 198.7 |
5.9 % |
$ (95.8) |
8.7 % |
|||||||
|
Gross revenue: |
|||||||||||||
|
New car retail gross sales |
$ 175.6 |
$ 185.6 |
$ (10.0) |
(5.4) % |
$ (4.1) |
(3.2) % |
|||||||
|
Used car retail gross sales |
53.0 |
88.2 |
(35.1) |
(39.9) % |
(1.9) |
(37.7) % |
|||||||
|
Used car wholesale gross sales |
(1.6) |
4.7 |
(6.3) |
(134.5) % |
0.1 |
(136.9) % |
|||||||
|
Complete used |
51.4 |
92.8 |
(41.5) |
(44.7) % |
(1.8) |
(42.7) % |
|||||||
|
Components and repair gross sales |
245.8 |
222.5 |
23.3 |
10.5 % |
(5.0) |
12.7 % |
|||||||
|
F&I, internet |
151.4 |
144.8 |
6.6 |
4.5 % |
(2.0) |
5.9 % |
|||||||
|
Complete gross revenue |
$ 624.1 |
$ 645.7 |
$ (21.6) |
(3.3) % |
$ (13.0) |
(1.3) % |
|||||||
|
Gross margin: |
|||||||||||||
|
New car retail gross sales |
10.2 % |
11.5 % |
(1.3) % |
||||||||||
|
Used car retail gross sales |
4.5 % |
8.0 % |
(3.4) % |
||||||||||
|
Used car wholesale gross sales |
(2.2) % |
5.5 % |
(7.6) % |
||||||||||
|
Complete used |
4.1 % |
7.8 % |
(3.6) % |
||||||||||
|
Components and repair gross sales |
53.3 % |
52.7 % |
0.6 % |
||||||||||
|
Complete gross margin |
17.5 % |
19.2 % |
(1.7) % |
||||||||||
|
Items offered: |
|||||||||||||
|
Retail new autos offered |
34,971 |
34,112 |
859 |
2.5 % |
|||||||||
|
Retail used autos offered |
38,771 |
36,239 |
2,532 |
7.0 % |
|||||||||
|
Wholesale used autos offered |
7,770 |
7,991 |
(221) |
(2.8) % |
|||||||||
|
Complete used |
46,541 |
44,230 |
2,311 |
5.2 % |
|||||||||
|
Common gross sales worth per unit offered: |
|||||||||||||
|
New car retail |
$ 49,049 |
$ 47,188 |
$ 1,860 |
3.9 % |
$ (1,315) |
6.7 % |
|||||||
|
Used car retail |
$ 30,045 |
$ 30,517 |
$ (472) |
(1.5) % |
$ (911) |
1.4 % |
|||||||
|
Gross revenue per unit offered: |
|||||||||||||
|
New car retail gross sales |
$ 5,022 |
$ 5,440 |
$ (418) |
(7.7) % |
$ (117) |
(5.5) % |
|||||||
|
Used car retail gross sales |
$ 1,367 |
$ 2,432 |
$ (1,065) |
(43.8) % |
$ (50) |
(41.7) % |
|||||||
|
Used car wholesale gross sales |
$ (208) |
$ 588 |
$ (796) |
(135.5) % |
$ 14 |
(137.9) % |
|||||||
|
Complete used |
$ 1,104 |
$ 2,099 |
$ (995) |
(47.4) % |
$ (39) |
(45.5) % |
|||||||
|
F&I PRU |
$ 2,052 |
$ 2,058 |
$ (6) |
(0.3) % |
$ (28) |
1.1 % |
|||||||
|
Different: |
|||||||||||||
|
SG&A bills |
$ 398.0 |
$ 404.6 |
$ (6.6) |
(1.6) % |
$ (9.8) |
0.8 % |
|||||||
|
Adjusted SG&A bills (1) |
$ 397.1 |
$ 398.3 |
$ (1.2) |
(0.3) % |
$ (9.8) |
2.2 % |
|||||||
|
SG&A as % gross revenue |
63.8 % |
62.7 % |
1.1 % |
||||||||||
|
Adjusted SG&A as % gross revenue (1) |
63.6 % |
61.7 % |
1.9 % |
||||||||||
|
Working margin % |
5.8 % |
6.6 % |
(0.8) % |
||||||||||
|
Adjusted working margin % (1) |
5.8 % |
6.8 % |
(0.9) % |
||||||||||
|
(1) See the part on this launch titled “Reconciliation of Sure Non-GAAP Monetary Measures” for the GAAP to non-GAAP reconciliation of those figures. |
|
Group 1 Automotive, Inc. |
|||||||||||||
|
Similar Retailer Working Knowledge — Consolidated |
|||||||||||||
|
(Unaudited) |
|||||||||||||
|
(In thousands and thousands, besides unit knowledge) |
|||||||||||||
|
Years Ended December 31, |
|||||||||||||
|
2022 |
2021 |
Improve/ |
% Change |
Foreign money |
Fixed |
||||||||
|
Revenues: |
|||||||||||||
|
New car retail gross sales |
$ 6,183.2 |
$ 6,368.8 |
$ (185.6) |
(2.9) % |
$ (140.7) |
(0.7) % |
|||||||
|
Used car retail gross sales |
4,866.1 |
4,368.0 |
498.1 |
11.4 % |
(120.8) |
14.2 % |
|||||||
|
Used car wholesale gross sales |
309.4 |
361.2 |
(51.8) |
(14.3) % |
(12.8) |
(10.8) % |
|||||||
|
Complete used |
5,175.5 |
4,729.1 |
446.4 |
9.4 % |
(133.6) |
12.3 % |
|||||||
|
Components and repair gross sales |
1,732.7 |
1,554.3 |
178.4 |
11.5 % |
(26.5) |
13.2 % |
|||||||
|
F&I, internet |
613.5 |
569.1 |
44.4 |
7.8 % |
(7.1) |
9.1 % |
|||||||
|
Complete revenues |
$ 13,705.0 |
$ 13,221.4 |
$ 483.6 |
3.7 % |
$ (308.0) |
6.0 % |
|||||||
|
Gross revenue: |
|||||||||||||
|
New car retail gross sales |
$ 669.6 |
$ 596.0 |
$ 73.6 |
12.3 % |
$ (12.7) |
14.5 % |
|||||||
|
Used car retail gross sales |
265.9 |
349.3 |
(83.4) |
(23.9) % |
(6.5) |
(22.0) % |
|||||||
|
Used car wholesale gross sales |
(0.6) |
24.6 |
(25.2) |
(102.4) % |
0.3 |
(103.6) % |
|||||||
|
Complete used |
265.3 |
373.9 |
(108.6) |
(29.1) % |
(6.3) |
(27.4) % |
|||||||
|
Components and repair gross sales |
934.7 |
848.4 |
86.3 |
10.2 % |
(15.5) |
12.0 % |
|||||||
|
F&I, internet |
613.5 |
569.1 |
44.4 |
7.8 % |
(7.1) |
9.1 % |
|||||||
|
Complete gross revenue |
$ 2,483.0 |
$ 2,387.4 |
$ 95.7 |
4.0 % |
$ (41.8) |
5.8 % |
|||||||
|
Gross margin: |
|||||||||||||
|
New car retail gross sales |
10.8 % |
9.4 % |
1.5 % |
||||||||||
|
Used car retail gross sales |
5.5 % |
8.0 % |
(2.5) % |
||||||||||
|
Used car wholesale gross sales |
(0.2) % |
6.8 % |
(7.0) % |
||||||||||
|
Complete used |
5.1 % |
7.9 % |
(2.8) % |
||||||||||
|
Components and repair gross sales |
53.9 % |
54.6 % |
(0.6) % |
||||||||||
|
Complete gross margin |
18.1 % |
18.1 % |
0.1 % |
||||||||||
|
Items offered: |
|||||||||||||
|
Retail new autos offered |
128,684 |
143,009 |
(14,325) |
(10.0) % |
|||||||||
|
Retail used autos offered |
158,848 |
159,172 |
(324) |
(0.2) % |
|||||||||
|
Wholesale used autos offered |
30,655 |
38,818 |
(8,163) |
(21.0) % |
|||||||||
|
Complete used |
189,503 |
197,990 |
(8,487) |
(4.3) % |
|||||||||
|
Common gross sales worth per unit offered: |
|||||||||||||
|
New car retail |
$ 48,050 |
$ 44,534 |
$ 3,516 |
7.9 % |
$ (1,094) |
10.3 % |
|||||||
|
Used car retail |
$ 30,634 |
$ 27,442 |
$ 3,192 |
11.6 % |
$ (761) |
14.4 % |
|||||||
|
Gross revenue per unit offered: |
|||||||||||||
|
New car retail gross sales |
$ 5,203 |
$ 4,167 |
$ 1,036 |
24.9 % |
$ (99) |
27.2 % |
|||||||
|
Used car retail gross sales |
$ 1,674 |
$ 2,195 |
$ (521) |
(23.7) % |
$ (41) |
(21.9) % |
|||||||
|
Used car wholesale gross sales |
$ (20) |
$ 634 |
$ (653) |
(103.1) % |
$ 9 |
(104.5) % |
|||||||
|
Complete used |
$ 1,400 |
$ 1,889 |
$ (489) |
(25.9) % |
$ (33) |
(24.1) % |
|||||||
|
F&I PRU |
$ 2,134 |
$ 1,883 |
$ 250 |
13.3 % |
$ (25) |
14.6 % |
|||||||
|
Different: |
|||||||||||||
|
SG&A bills |
$ 1,531.4 |
$ 1,442.8 |
$ 88.6 |
6.1 % |
$ (29.2) |
8.2 % |
|||||||
|
Adjusted SG&A bills (1) |
$ 1,528.4 |
$ 1,434.0 |
$ 94.4 |
6.6 % |
$ (28.9) |
8.6 % |
|||||||
|
SG&A as % gross revenue |
61.7 % |
60.4 % |
1.2 % |
||||||||||
|
Adjusted SG&A as % gross revenue (1) |
61.6 % |
60.1 % |
1.5 % |
||||||||||
|
Working margin % |
6.4 % |
6.6 % |
(0.2) % |
||||||||||
|
Adjusted working margin % (1) |
6.4 % |
6.7 % |
(0.2) % |
||||||||||
|
(1) See the part on this launch titled “Reconciliation of Sure Non-GAAP Monetary Measures” for the GAAP to non-GAAP reconciliation of those figures. |
|
Group 1 Automotive, Inc. |
|||||||
|
Similar Retailer Working Knowledge — U.S. |
|||||||
|
(Unaudited) |
|||||||
|
(In thousands and thousands, besides unit knowledge) |
|||||||
|
Three Months Ended December 31, |
|||||||
|
2022 |
2021 |
Improve/ |
% Change |
||||
|
Revenues: |
|||||||
|
New car retail gross sales |
$ 1,408.9 |
$ 1,346.2 |
$ 62.7 |
4.7 % |
|||
|
Used car retail gross sales |
935.5 |
845.2 |
90.4 |
10.7 % |
|||
|
Used car wholesale gross sales |
50.7 |
51.2 |
(0.4) |
(0.9) % |
|||
|
Complete used |
986.3 |
896.3 |
89.9 |
10.0 % |
|||
|
Components and repair gross sales |
401.9 |
365.4 |
36.5 |
10.0 % |
|||
|
F&I, internet |
137.8 |
130.3 |
7.5 |
5.8 % |
|||
|
Complete revenues |
$ 2,934.9 |
$ 2,738.3 |
$ 196.6 |
7.2 % |
|||
|
Gross revenue: |
|||||||
|
New car retail gross sales |
$ 144.9 |
$ 162.8 |
$ (17.9) |
(11.0) % |
|||
|
Used car retail gross sales |
40.5 |
68.7 |
(28.2) |
(41.1) % |
|||
|
Used car wholesale gross sales |
(0.8) |
3.6 |
(4.4) |
(121.8) % |
|||
|
Complete used |
39.7 |
72.3 |
(32.6) |
(45.1) % |
|||
|
Components and repair gross sales |
212.8 |
188.9 |
23.9 |
12.7 % |
|||
|
F&I, internet |
137.8 |
130.3 |
7.5 |
5.8 % |
|||
|
Complete gross revenue |
$ 535.2 |
$ 554.3 |
$ (19.1) |
(3.4) % |
|||
|
Gross margin: |
|||||||
|
New car retail gross sales |
10.3 % |
12.1 % |
(1.8) % |
||||
|
Used car retail gross sales |
4.3 % |
8.1 % |
(3.8) % |
||||
|
Used car wholesale gross sales |
(1.6) % |
7.1 % |
(8.6) % |
||||
|
Complete used |
4.0 % |
8.1 % |
(4.0) % |
||||
|
Components and repair gross sales |
53.0 % |
51.7 % |
1.3 % |
||||
|
Complete gross margin |
18.2 % |
20.2 % |
(2.0) % |
||||
|
Items offered: |
|||||||
|
Retail new autos offered |
27,336 |
27,573 |
(237) |
(0.9) % |
|||
|
Retail used autos offered |
30,457 |
28,271 |
2,186 |
7.7 % |
|||
|
Wholesale used autos offered |
5,381 |
4,789 |
592 |
12.4 % |
|||
|
Complete used |
35,838 |
33,060 |
2,778 |
8.4 % |
|||
|
Common gross sales worth per unit offered: |
|||||||
|
New car retail |
$ 51,541 |
$ 48,824 |
$ 2,717 |
5.6 % |
|||
|
Used car retail |
$ 30,716 |
$ 29,895 |
$ 821 |
2.7 % |
|||
|
Gross revenue per unit offered: |
|||||||
|
New car retail gross sales |
$ 5,301 |
$ 5,905 |
$ (604) |
(10.2) % |
|||
|
Used car retail gross sales |
$ 1,329 |
$ 2,430 |
$ (1,100) |
(45.3) % |
|||
|
Used car wholesale gross sales |
$ (147) |
$ 756 |
$ (903) |
(119.4) % |
|||
|
Complete used |
$ 1,108 |
$ 2,187 |
$ (1,080) |
(49.4) % |
|||
|
F&I PRU |
$ 2,385 |
$ 2,333 |
$ 52 |
2.2 % |
|||
|
Different: |
|||||||
|
SG&A bills |
$ 331.9 |
$ 337.3 |
$ (5.4) |
(1.6) % |
|||
|
Adjusted SG&A bills (1) |
$ 331.0 |
$ 331.0 |
$ 0.1 |
— % |
|||
|
SG&A as % gross revenue |
62.0 % |
60.9 % |
1.2 % |
||||
|
Adjusted SG&A as % gross revenue (1) |
61.9 % |
59.7 % |
2.1 % |
||||
|
(1) See the part on this launch titled “Reconciliation of Sure Non-GAAP Monetary Measures” for the GAAP to non-GAAP reconciliation of those figures. |
|
Group 1 Automotive, Inc. |
|||||||
|
Similar Retailer Working Knowledge — U.S. |
|||||||
|
(Unaudited) |
|||||||
|
(In thousands and thousands, besides unit knowledge) |
|||||||
|
Years Ended December 31, |
|||||||
|
2022 |
2021 |
Improve/ |
% Change |
||||
|
Revenues: |
|||||||
|
New car retail gross sales |
$ 5,032.4 |
$ 5,236.0 |
$ (203.6) |
(3.9) % |
|||
|
Used car retail gross sales |
3,805.4 |
3,287.7 |
517.7 |
15.7 % |
|||
|
Used car wholesale gross sales |
190.6 |
227.9 |
(37.3) |
(16.4) % |
|||
|
Complete used |
3,996.0 |
3,515.5 |
480.4 |
13.7 % |
|||
|
Components and repair gross sales |
1,506.7 |
1,335.8 |
170.9 |
12.8 % |
|||
|
F&I, internet |
551.5 |
512.8 |
38.6 |
7.5 % |
|||
|
Complete revenues |
$ 11,086.5 |
$ 10,600.2 |
$ 486.4 |
4.6 % |
|||
|
Gross revenue: |
|||||||
|
New car retail gross sales |
$ 564.4 |
$ 518.6 |
$ 45.8 |
8.8 % |
|||
|
Used car retail gross sales |
207.4 |
277.0 |
(69.6) |
(25.1) % |
|||
|
Used car wholesale gross sales |
1.8 |
17.0 |
(15.2) |
(89.5) % |
|||
|
Complete used |
209.2 |
293.9 |
(84.7) |
(28.8) % |
|||
|
Components and repair gross sales |
801.8 |
716.4 |
85.4 |
11.9 % |
|||
|
F&I, internet |
551.5 |
512.8 |
38.6 |
7.5 % |
|||
|
Complete gross revenue |
$ 2,126.8 |
$ 2,041.7 |
$ 85.0 |
4.2 % |
|||
|
Gross margin: |
|||||||
|
New car retail gross sales |
11.2 % |
9.9 % |
1.3 % |
||||
|
Used car retail gross sales |
5.5 % |
8.4 % |
(3.0) % |
||||
|
Used car wholesale gross sales |
0.9 % |
7.4 % |
(6.5) % |
||||
|
Complete used |
5.2 % |
8.4 % |
(3.1) % |
||||
|
Components and repair gross sales |
53.2 % |
53.6 % |
(0.4) % |
||||
|
Complete gross margin |
19.2 % |
19.3 % |
(0.1) % |
||||
|
Items offered: |
|||||||
|
Retail new autos offered |
100,643 |
115,170 |
(14,527) |
(12.6) % |
|||
|
Retail used autos offered |
122,947 |
122,845 |
102 |
0.1 % |
|||
|
Wholesale used autos offered |
19,485 |
24,177 |
(4,692) |
(19.4) % |
|||
|
Complete used |
142,432 |
147,022 |
(4,590) |
(3.1) % |
|||
|
Common gross sales worth per unit offered: |
|||||||
|
New car retail |
$ 50,003 |
$ 45,463 |
$ 4,539 |
10.0 % |
|||
|
Used car retail |
$ 30,951 |
$ 26,763 |
$ 4,189 |
15.7 % |
|||
|
Gross revenue per unit offered: |
|||||||
|
New car retail gross sales |
$ 5,608 |
$ 4,503 |
$ 1,105 |
24.5 % |
|||
|
Used car retail gross sales |
$ 1,687 |
$ 2,254 |
$ (568) |
(25.2) % |
|||
|
Used car wholesale gross sales |
$ 91 |
$ 702 |
$ (610) |
(87.0) % |
|||
|
Complete used |
$ 1,469 |
$ 1,999 |
$ (530) |
(26.5) % |
|||
|
F&I PRU |
$ 2,466 |
$ 2,155 |
$ 312 |
14.5 % |
|||
|
Different: |
|||||||
|
SG&A bills |
$ 1,281.7 |
$ 1,206.3 |
$ 75.4 |
6.3 % |
|||
|
Adjusted SG&A bills (1) |
$ 1,280.0 |
$ 1,198.0 |
$ 82.0 |
6.8 % |
|||
|
SG&A as % gross revenue |
60.3 % |
59.1 % |
1.2 % |
||||
|
Adjusted SG&A as % gross revenue (1) |
60.2 % |
58.7 % |
1.5 % |
||||
|
(1) See the part on this launch titled “Reconciliation of Sure Non-GAAP Monetary Measures” for the GAAP to non-GAAP reconciliation of those figures. |
|
Group 1 Automotive, Inc. |
||||||||||||
|
Similar Retailer Working Knowledge — U.Okay. |
||||||||||||
|
(Unaudited) |
||||||||||||
|
(In thousands and thousands, besides unit knowledge) |
||||||||||||
|
Three Months Ended December 31, |
||||||||||||
|
2022 |
2021 |
Improve/ |
% Change |
Foreign money |
Fixed |
|||||||
|
Revenues: |
||||||||||||
|
New car retail gross sales |
$ 306.4 |
$ 263.5 |
$ 42.9 |
16.3 % |
$ (46.0) |
33.7 % |
||||||
|
Used car retail gross sales |
229.3 |
260.7 |
(31.4) |
(12.0) % |
(35.3) |
1.5 % |
||||||
|
Used car wholesale gross sales |
23.7 |
35.0 |
(11.2) |
(32.1) % |
(3.5) |
(22.2) % |
||||||
|
Complete used |
253.1 |
295.7 |
(42.6) |
(14.4) % |
(38.8) |
(1.3) % |
||||||
|
Components and repair gross sales |
59.3 |
56.6 |
2.7 |
4.8 % |
(9.0) |
20.7 % |
||||||
|
F&I, internet |
13.5 |
14.5 |
(1.0) |
(6.7) % |
(2.0) |
7.4 % |
||||||
|
Complete revenues |
$ 632.3 |
$ 630.2 |
$ 2.0 |
0.3 % |
$ (95.8) |
15.5 % |
||||||
|
Gross revenue: |
||||||||||||
|
New car retail gross sales |
$ 30.7 |
$ 22.8 |
$ 7.9 |
34.9 % |
$ (4.1) |
52.9 % |
||||||
|
Used car retail gross sales |
12.5 |
19.5 |
(6.9) |
(35.7) % |
(1.9) |
(25.7) % |
||||||
|
Used car wholesale gross sales |
(0.8) |
1.1 |
(1.9) |
NM |
0.1 |
NM |
||||||
|
Complete used |
11.7 |
20.5 |
(8.9) |
(43.1) % |
(1.8) |
(34.2) % |
||||||
|
Components and repair gross sales |
33.0 |
33.6 |
(0.7) |
(2.0) % |
(5.0) |
12.8 % |
||||||
|
F&I, internet |
13.5 |
14.5 |
(1.0) |
(6.7) % |
(2.0) |
7.4 % |
||||||
|
Complete gross revenue |
$ 88.9 |
$ 91.4 |
$ (2.5) |
(2.8) % |
$ (13.0) |
11.5 % |
||||||
|
Gross margin: |
||||||||||||
|
New car retail gross sales |
10.0 % |
8.6 % |
1.4 % |
|||||||||
|
Used car retail gross sales |
5.5 % |
7.5 % |
(2.0) % |
|||||||||
|
Used car wholesale gross sales |
(3.5) % |
3.1 % |
(6.6) % |
|||||||||
|
Complete used |
4.6 % |
6.9 % |
(2.3) % |
|||||||||
|
Components and repair gross sales |
55.6 % |
59.5 % |
(3.9) % |
|||||||||
|
Complete gross margin |
14.1 % |
14.5 % |
(0.4) % |
|||||||||
|
Items offered: |
||||||||||||
|
Retail new autos offered |
7,635 |
6,539 |
1,096 |
16.8 % |
||||||||
|
Retail used autos offered |
8,314 |
7,968 |
346 |
4.3 % |
||||||||
|
Wholesale used autos offered |
2,389 |
3,202 |
(813) |
(25.4) % |
||||||||
|
Complete used |
10,703 |
11,170 |
(467) |
(4.2) % |
||||||||
|
Common gross sales worth per unit offered: |
||||||||||||
|
New car retail |
$ 40,126 |
$ 40,291 |
$ (165) |
(0.4) % |
$ (6,024) |
14.5 % |
||||||
|
Used car retail |
$ 27,586 |
$ 32,724 |
$ (5,138) |
(15.7) % |
$ (4,250) |
(2.7) % |
||||||
|
Gross revenue per unit offered: |
||||||||||||
|
New car retail gross sales |
$ 4,022 |
$ 3,481 |
$ 542 |
15.6 % |
$ (537) |
31.0 % |
||||||
|
Used car retail gross sales |
$ 1,505 |
$ 2,442 |
$ (937) |
(38.4) % |
$ (234) |
(28.8) % |
||||||
|
Used car wholesale gross sales |
$ (347) |
$ 337 |
$ (684) |
NM |
$ 47 |
NM |
||||||
|
Complete used |
$ 1,092 |
$ 1,839 |
$ (747) |
(40.6) % |
$ (172) |
(31.3) % |
||||||
|
F&I PRU |
$ 848 |
$ 999 |
$ (151) |
(15.1) % |
$ (128) |
(2.3) % |
||||||
|
Different: |
||||||||||||
|
SG&A bills |
$ 66.1 |
$ 67.3 |
$ (1.2) |
(1.9) % |
$ (9.8) |
12.7 % |
||||||
|
SG&A as % gross revenue |
74.3 % |
73.6 % |
0.7 % |
|||||||||
|
Group 1 Automotive, Inc. |
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Similar Retailer Working Knowledge — U.Okay. |
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(Unaudited) |
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(In thousands and thousands, besides unit knowledge) |
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Years Ended December 31, |
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2022 |
2021 |
Improve/ |
% Change |
Foreign money |
Fixed |
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Revenues: |
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New car retail gross sales |
$ 1,150.8 |
$ 1,132.8 |
$ 18.0 |
1.6 % |
$ (140.7) |
14.0 % |
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Used car retail gross sales |
1,060.8 |
1,080.3 |
(19.6) |
(1.8) % |
(120.8) |
9.4 % |
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Used car wholesale gross sales |
118.8 |
133.3 |
(14.5) |
(10.9) % |
(12.8) |
(1.3) % |
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Complete used |
1,179.5 |
1,213.6 |
(34.1) |
(2.8) % |
(133.6) |
8.2 % |
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Components and repair gross sales |
226.1 |
218.5 |
7.5 |
3.5 % |
(26.5) |
15.6 % |
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F&I, internet |
62.1 |
56.3 |
5.7 |
10.2 % |
(7.1) |
22.9 % |
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Complete revenues |
$ 2,618.5 |
$ 2,621.2 |
$ (2.8) |
(0.1) % |
$ (308.0) |
11.6 % |
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Gross revenue: |
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New car retail gross sales |
$ 105.2 |
$ 77.4 |
$ 27.8 |
36.0 % |
$ (12.7) |
52.4 % |
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Used car retail gross sales |
58.5 |
72.4 |
(13.9) |
(19.2) % |
(6.5) |
(10.1) % |
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Used car wholesale gross sales |
(2.4) |
7.6 |
(10.0) |
(131.2) % |
0.3 |
(134.8) % |
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Complete used |
56.1 |
80.0 |
(23.9) |
(29.9) % |
(6.3) |
(22.0) % |
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Components and repair gross sales |
132.9 |
132.0 |
1.0 |
0.7 % |
(15.5) |
12.5 % |
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F&I, internet |
62.1 |
56.3 |
5.7 |
10.2 % |
(7.1) |
22.9 % |
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Complete gross revenue |
$ 356.3 |
$ 345.6 |
$ 10.6 |
3.1 % |
$ (41.8) |
15.2 % |
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Gross margin: |
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New car retail gross sales |
9.1 % |
6.8 % |
2.3 % |
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Used car retail gross sales |
5.5 % |
6.7 % |
(1.2) % |
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Used car wholesale gross sales |
(2.0) % |
5.7 % |
(7.7) % |
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Complete used |
4.8 % |
6.6 % |
(1.8) % |
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Components and repair gross sales |
58.8 % |
60.4 % |
(1.6) % |
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Complete gross margin |
13.6 % |
13.2 % |
0.4 % |
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Items offered: |
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Retail new autos offered |
28,041 |
27,839 |
202 |
0.7 % |
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Retail used autos offered |
35,901 |
36,327 |
(426) |
(1.2) % |
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Wholesale used autos offered |
11,170 |
14,641 |
(3,471) |
(23.7) % |
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Complete used |
47,071 |
50,968 |
(3,897) |
(7.6) % |
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Common gross sales worth per unit offered: |
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New car retail |
$ 41,040 |
$ 40,691 |
$ 350 |
0.9 % |
$ (5,019) |
13.2 % |
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Used car retail |
$ 29,547 |
$ 29,739 |
$ (192) |
(0.6) % |
$ (3,365) |
10.7 % |
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Gross revenue per unit offered: |
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New car retail gross sales |
$ 3,752 |
$ 2,779 |
$ 973 |
35.0 % |
$ (453) |
51.3 % |
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Used car retail gross sales |
$ 1,629 |
$ 1,992 |
$ (363) |
(18.2) % |
$ (182) |
(9.1) % |
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Used car wholesale gross sales |
$ (213) |
$ 522 |
$ (735) |
(140.9) % |
$ 24 |
(145.6) % |
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Complete used |
$ 1,192 |
$ 1,569 |
$ (378) |
(24.1) % |
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