GPI 8-K

Group 1 Automotive Inc (GPI)

8-K 2025-01-29 For: 2025-01-29

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Added on April 05, 2026

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Group 1 Automotive, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In millions, except per share data)

	Three Months Ended December 31,
	2024			2023			Increase/(Decrease)			% Change
REVENUES:
New vehicle retail sales	$	2,858.0		$	2,311.2		$	546.9		23.7	%
Used vehicle retail sales	1,653.4			1,334.5			318.9			23.9	%
Used vehicle wholesale sales	128.9			102.3			26.6			26.0	%
Parts and service sales	680.2			545.0			135.2			24.8	%
Finance, insurance and other, net	225.5			187.1			38.4			20.5	%
Total revenues	5,546.0			4,480.0			1,066.0			23.8	%
COST OF SALES:
New vehicle retail sales	2,652.9			2,126.7			526.2			24.7	%
Used vehicle retail sales	1,574.1			1,270.4			303.7			23.9	%
Used vehicle wholesale sales	130.5			106.6			23.9			22.5	%
Parts and service sales	309.3			245.7			63.6			25.9	%
Total cost of sales	4,666.8			3,749.4			917.4			24.5	%
GROSS PROFIT	879.2			730.6			148.6			20.3	%
Selling, general and administrative expenses	614.3			487.4			126.9			26.0	%
Depreciation and amortization expense	31.5			23.4			8.2			34.9	%
Asset impairments	33.0			25.1			7.8			31.2	%
Restructuring charges	16.7			—			16.7			100.0	%
Other operating (income) expense	(10.0)			—			(10.0)			(100.0)	%
INCOME FROM OPERATIONS	193.7			194.7			(1.0)			(0.5)	%
Floorplan interest expense	32.2			19.4			12.9			66.4	%
Other interest expense, net	38.8			27.7			11.1			40.2	%
Other expense	—			2.2			(2.2)			(98.5)	%

INCOME BEFORE INCOME TAXES	122.6			145.4			(22.8)			(15.7)	%
Provision for income taxes	28.0			36.6			(8.6)			(23.5)	%
Net income from continuing operations	94.6			108.8			(14.2)			(13.1)	%
Net income (loss) from discontinued operations	0.2			—			0.3			562.4	%
NET INCOME	$	94.8		$	108.8		$	(13.9)		(12.8)	%
Less: Earnings allocated to participating securities	1.9			2.6			(0.7)			(27.2)	%
Net income available to diluted common shares	$	92.9		$	106.2		$	(13.2)		(12.5)	%
Diluted earnings per share from continuing operations	$	7.08		$	7.87		$	(0.80)		(10.1)	%
Diluted earnings (loss) per share from discontinued operations	$	0.02		$	—		$	0.02		578.1	%
DILUTED EARNINGS PER SHARE	$	7.09		$	7.87		$	(0.78)		(9.9)	%
Weighted average dilutive common shares outstanding	13.1			13.5			(0.4)			(2.9)	%
Weighted average participating securities	0.3			0.3			(0.1)			(19.3)	%
Total weighted average shares	13.4			13.8			(0.5)			(3.3)	%
Effective tax rate on continuing operations	22.9		%	25.2		%	(2.3)		%


Group 1 Automotive, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In millions, except per share data)

	Years Ended December 31,
	2024			2023			Increase/(Decrease)			% Change
REVENUES:
New vehicle retail sales	$	9,972.4		$	8,774.6		$	1,197.8		13.7	%
Used vehicle retail sales	6,179.9			5,693.5			486.3			8.5	%
Used vehicle wholesale sales	462.4			441.4			21.0			4.7	%
Parts and service sales	2,491.0			2,222.3			268.7			12.1	%
Finance, insurance and other, net	828.7			741.9			86.8			11.7	%
Total revenues	19,934.3			17,873.7			2,060.6			11.5	%
COST OF SALES:
New vehicle retail sales	9,254.5			8,007.6			1,246.9			15.6	%
Used vehicle retail sales	5,849.9			5,392.6			457.3			8.5	%
Used vehicle wholesale sales	465.7			445.2			20.5			4.6	%
Parts and service sales	1,123.2			1,008.0			115.2			11.4	%
Total cost of sales	16,693.3			14,853.4			1,839.9			12.4	%
GROSS PROFIT	3,241.0			3,020.3			220.7			7.3	%
Selling, general and administrative expenses	2,179.2			1,926.8			252.4			13.1	%
Depreciation and amortization expense	113.1			92.0			21.1			22.9	%
Asset impairments	33.0			32.9			0.1			0.3	%
Restructuring charges	16.7			—			16.7			100.0	%
Other operating (income) expense	(10.0)			—			(10.0)			(100.0)	%
INCOME FROM OPERATIONS	909.1			968.6			(59.6)			(6.1)	%
Floorplan interest expense	108.5			64.1			44.4			69.3	%
Other interest expense, net	141.3			99.8			41.5			41.6	%
Other expense	0.7			4.5			(3.8)			(83.7)	%

INCOME BEFORE INCOME TAXES	658.5			800.2			(141.7)			(17.7)	%
Provision for income taxes	161.5			198.2			(36.7)			(18.5)	%
Net income from continuing operations	497.0			602.0			(105.0)			(17.4)	%
Net income (loss) from discontinued operations	1.2			(0.4)			1.5			425.1	%
NET INCOME	$	498.1		$	601.6		$	(103.5)		(17.2)	%
Less: Earnings allocated to participating securities	10.5			14.8			(4.3)			(29.2)	%
Net income available to diluted common shares	$	487.7		$	586.9		$	(99.2)		(16.9)	%
Diluted earnings per share from continuing operations	$	36.72		$	42.75		$	(6.03)		(14.1)	%
Diluted earnings (loss) per share from discontinued operations	$	0.09		$	(0.03)		$	0.11		438.2	%
DILUTED EARNINGS PER SHARE	$	36.81		$	42.73		$	(5.92)		(13.9)	%
Weighted average dilutive common shares outstanding	13.2			13.7			(0.5)			(3.5)	%
Weighted average participating securities	0.3			0.3			(0.1)			(17.8)	%
Total weighted average shares	13.5			14.1			(0.5)			(3.9)	%
Effective tax rate on continuing operations	24.5		%	24.8		%	(0.2)		%


Group 1 Automotive, Inc.
Additional Information — Consolidated
(Unaudited)

	December 31, 2024		December 31, 2023		Increase/(Decrease)		% Change
SELECTED BALANCE SHEET INFORMATION:
(In millions)
Cash and cash equivalents	$	34.4	$	57.2	$	(22.8)	(39.9)	%
Inventories, net	$	2,636.8	$	1,963.4	$	673.4	34.3	%
Floorplan notes payable, net (1)	$	2,022.1	$	1,565.4	$	456.6	29.2	%
Total debt	$	2,913.1	$	2,098.8	$	814.4	38.8	%
Total equity	$	2,974.3	$	2,674.4	$	299.9	11.2	%
(1) Amounts are net of offset accounts of $288.2 and $275.2, respectively.


	Three Months Ended December 31,				Years Ended December 31,
	2024		2023		2024		2023
NEW VEHICLE UNIT SALES GEOGRAPHIC MIX:
United States	74.8	%	83.3	%	77.4	%	81.3	%
United Kingdom	25.2	%	16.7	%	22.6	%	18.7	%


NEW VEHICLE UNIT SALES BRAND MIX:
Toyota/Lexus	24.2	%	26.7	%	24.9	%	24.0	%
Volkswagen/Audi/Porsche/SEAT/SKODA	13.4	%	13.4	%	14.2	%	15.2	%
BMW/MINI	14.1	%	12.8	%	11.6	%	11.8	%
Honda/Acura	8.6	%	7.3	%	9.2	%	7.5	%
Chevrolet/GMC/Buick	9.0	%	9.3	%	9.1	%	9.0	%
Mercedes-Benz/Sprinter	9.1	%	6.0	%	7.5	%	6.2	%
Ford/Lincoln	6.9	%	6.9	%	7.0	%	7.5	%
Hyundai/Kia/Genesis	4.8	%	5.1	%	5.4	%	5.2	%
Subaru	3.0	%	3.3	%	3.2	%	2.9	%
Nissan	1.9	%	2.9	%	2.2	%	3.6	%
Chrysler/Dodge/Jeep/RAM	1.7	%	3.1	%	2.1	%	3.7	%
Jaguar/Land Rover	2.0	%	1.6	%	2.0	%	1.7	%
Mazda	1.0	%	1.3	%	1.2	%	1.2	%
Other	0.2	%	0.3	%	0.2	%	0.3	%
	100.0	%	100.0	%	100.0	%	100.0	%


	December 31, 2024	December 31, 2023
DAYS’ SUPPLY IN INVENTORY (1):
Consolidated
New vehicle inventory	44	37
Used vehicle inventory	39	35
U.S.
New vehicle inventory	43	36
Used vehicle inventory	29	29
U.K.
New vehicle inventory	45	48
Used vehicle inventory	67	58



(1) Days’ supply in inventory is calculated based on inventory unit levels and 30-day total unit sales volumes, both at the end of each reporting period.


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 40.14d-2(b))


Group 1 Automotive, Inc.
Reported Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)

	Three Months Ended December 31,
	2024			2023			Increase/ (Decrease)			% Change		Currency Impact on Current Period Results		Constant Currency % Change
Revenues:
New vehicle retail sales	$	2,858.0		$	2,311.2		$	546.9		23.7	%	$	18.6	22.9	%
Used vehicle retail sales	1,653.4			1,334.5			318.9			23.9	%	17.8		22.6	%
Used vehicle wholesale sales	128.9			102.3			26.6			26.0	%	1.6		24.4	%
Total used	1,782.3			1,436.8			345.5			24.0	%	19.4		22.7	%
Parts and service sales	680.2			545.0			135.2			24.8	%	5.0		23.9	%
F&I, net	225.5			187.1			38.4			20.5	%	1.0		20.0	%
Total revenues	$	5,546.0		$	4,480.0		$	1,066.0		23.8	%	$	44.0	22.8	%
Gross profit:
New vehicle retail sales	$	205.1		$	184.5		$	20.7		11.2	%	$	1.4	10.5	%
Used vehicle retail sales	79.3			64.1			15.2			23.8	%	0.9		22.4	%
Used vehicle wholesale sales	(1.7)			(4.3)			2.6			61.4	%	—		62.2	%
Total used	77.6			59.8			17.9			29.9	%	0.8		28.5	%
Parts and service sales	370.9			299.3			71.6			23.9	%	2.7		23.0	%
F&I, net	225.5			187.1			38.4			20.5	%	1.0		20.0	%
Total gross profit	$	879.2		$	730.6		$	148.6		20.3	%	$	5.9	19.5	%
Gross margin:
New vehicle retail sales	7.2		%	8.0		%	(0.8)		%
Used vehicle retail sales	4.8		%	4.8		%	—		%
Used vehicle wholesale sales	(1.3)		%	(4.2)		%	2.9		%
Total used	4.4		%	4.2		%	0.2		%
Parts and service sales	54.5		%	54.9		%	(0.4)		%

Total gross margin	15.9		%	16.3		%	(0.5)		%
Units sold:
Retail new vehicles sold (1)	57,939			45,827			12,112			26.4	%
Retail used vehicles sold	55,337			44,656			10,681			23.9	%
Wholesale used vehicles sold	14,733			11,156			3,577			32.1	%
Total used	70,070			55,812			14,258			25.5	%
Average sales price per unit sold:
New vehicle retail (1)	$	51,106		$	50,760		$	347		0.7	%	$	330	—	%
Used vehicle retail	$	29,879		$	29,884		$	(5)		—	%	$	322	(1.1)	%
Gross profit per unit sold:
New vehicle retail sales	$	3,540		$	4,025		$	(485)		(12.0)	%	$	24	(12.6)	%
Used vehicle retail sales	$	1,433		$	1,434		$	(2)		(0.1)	%	$	16	(1.2)	%
Used vehicle wholesale sales	$	(113)		$	(386)		$	273		70.7	%	$	(2)	71.4	%
Total used	$	1,108		$	1,071		$	37		3.5	%	$	12	2.3	%
F&I PRU	$	1,991		$	2,068		$	(77)		(3.7)	%	$	9	(4.1)	%
Other:
SG&A expenses	$	614.3		$	487.4		$	126.9		26.0	%	$	5.5	24.9	%
Adjusted SG&A expenses (2)	$	616.3		$	485.7		$	130.6		26.9	%	$	5.3	25.8	%
SG&A as % gross profit	69.9		%	66.7		%	3.2		%
Adjusted SG&A as % gross profit (2)	70.1		%	66.5		%	3.6		%
Operating margin %	3.6		%	4.3		%	(0.7)		%
Adjusted operating margin % (2)	4.2		%	5.0		%	(0.7)		%
Pretax margin %	2.2		%	3.2		%	(1.0)		%
Adjusted pretax margin % (2)	3.1		%	3.9		%	(0.7)		%
Floorplan expense:
Floorplan interest expense	$	32.2		$	19.4		$	12.9		66.4	%	$	0.2	65.2	%
Less: Floorplan assistance (3)	25.0			19.3			5.7			29.3	%	—		29.1	%
Net floorplan expense	$	7.2		$	—		$	7.2				$	0.2


Group 1 Automotive, Inc.
Reported Operating Data — U.S.
(Unaudited)
(In millions, except unit data)

	Three Months Ended December 31,
	2024			2023			Increase/(Decrease)			% Change
Revenues:
New vehicle retail sales	$	2,283.9		$	1,989.3		$	294.6		14.8	%
Used vehicle retail sales	1,140.9			1,065.2			75.7			7.1	%
Used vehicle wholesale sales	82.6			72.2			10.5			14.5	%
Total used	1,223.5			1,137.4			86.2			7.6	%
Parts and service sales	531.7			473.9			57.8			12.2	%
F&I, net	195.7			172.0			23.7			13.8	%
Total revenues	$	4,234.8		$	3,772.5		$	462.3		12.3	%
Gross profit:
New vehicle retail sales	$	155.5		$	156.4		$	(0.9)		(0.6)	%
Used vehicle retail sales	55.5			53.3			2.3			4.3	%
Used vehicle wholesale sales	0.6			(0.5)			1.0			NM
Total used	56.1			52.8			3.3			6.3	%
Parts and service sales	288.6			259.0			29.6			11.4	%
F&I, net	195.7			172.0			23.7			13.8	%
Total gross profit	$	695.9		$	640.2		$	55.7		8.7	%
Gross margin:
New vehicle retail sales	6.8		%	7.9		%	(1.1)		%
Used vehicle retail sales	4.9		%	5.0		%	(0.1)		%
Used vehicle wholesale sales	0.7		%	(0.6)		%	1.3		%
Total used	4.6		%	4.6		%	(0.1)		%
Parts and service sales	54.3		%	54.7		%	(0.4)		%

Total gross margin	16.4		%	17.0		%	(0.5)		%
Units sold:
Retail new vehicles sold	43,348			38,152			5,196			13.6	%
Retail used vehicles sold	37,699			35,195			2,504			7.1	%
Wholesale used vehicles sold	9,594			8,160			1,434			17.6	%
Total used	47,293			43,355			3,938			9.1	%
Average sales price per unit sold:
New vehicle retail	$	52,688		$	52,141		$	547		1.0	%
Used vehicle retail	$	30,264		$	30,266		$	(2)		—	%
Gross profit per unit sold:
New vehicle retail sales	$	3,587		$	4,099		$	(512)		(12.5)	%
Used vehicle retail sales	$	1,473		$	1,513		$	(40)		(2.6)	%
Used vehicle wholesale sales	$	58		$	(57)		$	116		NM
Total used	$	1,186		$	1,218		$	(31)		(2.6)	%
F&I PRU	$	2,415		$	2,345		$	70		3.0	%
Other:
SG&A expenses	$	446.1		$	413.1		$	33.0		8.0	%
Adjusted SG&A expenses (1)	$	449.5		$	408.7		$	40.8		10.0	%
SG&A as % gross profit	64.1		%	64.5		%	(0.4)		%
Adjusted SG&A as % gross profit (1)	64.6		%	63.8		%	0.8		%


Group 1 Automotive, Inc.
Reported Operating Data — U.K.
(Unaudited)
(In millions, except unit data)

	Three Months Ended December 31,
	2024			2023			Increase/ (Decrease)			% Change		Currency Impact on Current Period Results		Constant Currency % Change
Revenues:
New vehicle retail sales	$	574.1		$	321.9		$	252.3		78.4	%	$	18.6	72.6	%
Used vehicle retail sales	512.5			269.3			243.2			90.3	%	17.8		83.7	%
Used vehicle wholesale sales	46.3			30.1			16.1			53.6	%	1.6		48.3	%
Total used	558.7			299.4			259.3			86.6	%	19.4		80.1	%
Parts and service sales	148.5			71.1			77.4			108.9	%	5.0		101.9	%
F&I, net	29.8			15.2			14.7			96.8	%	1.0		90.2	%
Total revenues	$	1,311.2		$	707.5		$	603.7		85.3	%	$	44.0	79.1	%
Gross profit:
New vehicle retail sales	$	49.6		$	28.1		$	21.6		76.9	%	$	1.4	72.1	%
Used vehicle retail sales	23.7			10.8			12.9			119.8	%	0.9		111.7	%
Used vehicle wholesale sales	(2.2)			(3.8)			1.6			42.0	%	—		43.0	%
Total used	21.5			7.0			14.5			208.9	%	0.8		196.9	%
Parts and service sales	82.3			40.3			42.0			104.4	%	2.7		97.5	%
F&I, net	29.8			15.2			14.7			96.8	%	1.0		90.2	%
Total gross profit	$	183.3		$	90.5		$	92.8		102.6	%	$	5.9	96.1	%
Gross margin:
New vehicle retail sales	8.6		%	8.7		%	(0.1)		%
Used vehicle retail sales	4.6		%	4.0		%	0.6		%
Used vehicle wholesale sales	(4.8)		%	(12.7)		%	7.9		%
Total used	3.8		%	2.3		%	1.5		%
Parts and service sales	55.4		%	56.7		%	(1.2)		%

Total gross margin	14.0		%	12.8		%	1.2		%
Units sold:
Retail new vehicles sold (1)	14,591			7,675			6,916			90.1	%
Retail used vehicles sold	17,638			9,461			8,177			86.4	%
Wholesale used vehicles sold	5,139			2,996			2,143			71.5	%
Total used	22,777			12,457			10,320			82.8	%
Average sales price per unit sold:
New vehicle retail (1)	$	45,597		$	43,599		$	1,997		4.6	%	$	1,478	1.2	%
Used vehicle retail	$	29,055		$	28,461		$	594		2.1	%	$	1,009	(1.5)	%
Gross profit per unit sold:
New vehicle retail sales	$	3,403		$	3,656		$	(253)		(6.9)	%	$	93	(9.5)	%
Used vehicle retail sales	$	1,345		$	1,141		$	204		17.9	%	$	49	13.6	%
Used vehicle wholesale sales	$	(433)		$	(1,281)		$	848		66.2	%	$	(7)	66.8	%
Total used	$	944		$	559		$	385		69.0	%	$	37	62.4	%
F&I PRU	$	926		$	885		$	41		4.7	%	$	31	1.1	%
Other:
SG&A expenses	$	168.2		$	74.3		$	93.9		126.4	%	$	5.5	118.9	%
Adjusted SG&A expenses (2)	$	166.7		$	77.0		$	89.7		116.5	%	$	5.3	109.6	%
SG&A as % gross profit	91.8		%	82.2		%	9.6		%
Adjusted SG&A as % gross profit (2)	91.0		%	85.1		%	5.8		%


Group 1 Automotive, Inc.
Same Store Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)

	Three Months Ended December 31,
	2024			2023			Increase/ (Decrease)			% Change		Currency Impact on Current Period Results		Constant Currency % Change
Revenues:
New vehicle retail sales	$	2,440.8		$	2,256.2		$	184.6		8.2	%	$	10.1	7.7	%
Used vehicle retail sales	1,342.2			1,298.9			43.3			3.3	%	9.0		2.6	%
Used vehicle wholesale sales	101.5			99.2			2.3			2.3	%	0.8		1.5	%
Total used	1,443.7			1,398.2			45.5			3.3	%	9.8		2.6	%
Parts and service sales	576.4			529.6			46.8			8.8	%	2.5		8.4	%
F&I, net	201.9			182.0			19.9			10.9	%	0.5		10.6	%
Total revenues	$	4,662.7		$	4,366.0		$	296.8		6.8	%	$	23.0	6.3	%
Gross profit:
New vehicle retail sales	$	165.1		$	180.4		$	(15.3)		(8.5)	%	$	0.6	(8.8)	%
Used vehicle retail sales	64.4			62.2			2.2			3.5	%	0.4		2.8	%
Used vehicle wholesale sales	(0.9)			(4.3)			3.3			78.0	%	—		78.7	%
Total used	63.5			57.9			5.5			9.6	%	0.4		8.9	%
Parts and service sales	312.6			290.4			22.2			7.6	%	1.4		7.2	%
F&I, net	201.9			182.0			19.9			10.9	%	0.5		10.6	%
Total gross profit	$	743.1		$	710.8		$	32.3		4.5	%	$	2.9	4.1	%
Gross margin:
New vehicle retail sales	6.8		%	8.0		%	(1.2)		%
Used vehicle retail sales	4.8		%	4.8		%	—		%
Used vehicle wholesale sales	(0.9)		%	(4.3)		%	3.4		%
Total used	4.4		%	4.1		%	0.3		%
Parts and service sales	54.2		%	54.8		%	(0.6)		%

Total gross margin	15.9		%	16.3		%	(0.3)		%
Units sold:
Retail new vehicles sold (1)	47,354			44,693			2,661			6.0	%
Retail used vehicles sold	44,926			43,407			1,519			3.5	%
Wholesale used vehicles sold	11,742			10,860			882			8.1	%
Total used	56,668			54,267			2,401			4.4	%
Average sales price per unit sold:
New vehicle retail (1)	$	52,072		$	50,819		$	1,253		2.5	%	$	215	2.0	%
Used vehicle retail	$	29,876		$	29,925		$	(49)		(0.2)	%	$	200	(0.8)	%
Gross profit per unit sold:
New vehicle retail sales	$	3,486		$	4,037		$	(551)		(13.6)	%	$	12	(13.9)	%
Used vehicle retail sales	$	1,434		$	1,433		$	—		—	%	$	10	(0.7)	%
Used vehicle wholesale sales	$	(80)		$	(395)		$	315		79.7	%	$	(2)	80.3	%
Total used	$	1,120		$	1,067		$	53		4.9	%	$	7	4.2	%
F&I PRU	$	2,188		$	2,066		$	122		5.9	%	$	6	5.6	%
Other:
SG&A expenses	$	499.3		$	475.0		$	24.2		5.1	%	$	2.6	4.6	%
Adjusted SG&A expenses (2)	$	497.9		$	470.7		$	27.2		5.8	%	$	2.5	5.2	%
SG&A as % gross profit	67.2		%	66.8		%	0.4		%
Adjusted SG&A as % gross profit (2)	67.0		%	66.2		%	0.8		%
Operating margin %	4.0		%	4.3		%	(0.3)		%
Adjusted operating margin % (2)	4.8		%	5.0		%	(0.2)		%


Group 1 Automotive, Inc.
Same Store Operating Data — U.S.
(Unaudited)
(In millions, except unit data)

	Three Months Ended December 31,
	2024			2023			Increase/(Decrease)			% Change
Revenues:
New vehicle retail sales	$	2,126.3		$	1,934.4		$	192.0		9.9	%
Used vehicle retail sales	1,081.9			1,029.7			52.2			5.1	%
Used vehicle wholesale sales	77.2			69.1			8.1			11.8	%
Total used	1,159.1			1,098.8			60.4			5.5	%
Parts and service sales	501.0			461.0			40.0			8.7	%
F&I, net	186.1			166.8			19.3			11.5	%
Total revenues	$	3,972.6		$	3,661.0		$	311.6		8.5	%
Gross profit:
New vehicle retail sales	$	142.5		$	152.4		$	(9.9)		(6.5)	%
Used vehicle retail sales	52.6			51.4			1.2			2.3	%
Used vehicle wholesale sales	0.6			(0.5)			1.0			NM
Total used	53.2			51.0			2.2			4.3	%
Parts and service sales	270.5			251.3			19.2			7.6	%
F&I, net	186.1			166.8			19.3			11.5	%
Total gross profit	$	652.2		$	621.5		$	30.7		4.9	%
Gross margin:
New vehicle retail sales	6.7		%	7.9		%	(1.2)		%
Used vehicle retail sales	4.9		%	5.0		%	(0.1)		%
Used vehicle wholesale sales	0.7		%	(0.7)		%	1.4		%
Total used	4.6		%	4.6		%	(0.1)		%
Parts and service sales	54.0		%	54.5		%	(0.5)		%

Total gross margin	16.4		%	17.0		%	(0.6)		%
Units sold:
Retail new vehicles sold	39,998			37,018			2,980			8.1	%
Retail used vehicles sold	35,643			33,946			1,697			5.0	%
Wholesale used vehicles sold	8,866			7,864			1,002			12.7	%
Total used	44,509			41,810			2,699			6.5	%
Average sales price per unit sold:
New vehicle retail	$	53,161		$	52,255		$	906		1.7	%
Used vehicle retail	$	30,354		$	30,333		$	21		0.1	%
Gross profit per unit sold:
New vehicle retail sales	$	3,562		$	4,116		$	(554)		(13.5)	%
Used vehicle retail sales	$	1,475		$	1,515		$	(39)		(2.6)	%
Used vehicle wholesale sales	$	64		$	(58)		$	122		NM
Total used	$	1,194		$	1,219		$	(25)		(2.0)	%
F&I PRU	$	2,460		$	2,351		$	109		4.6	%
Other:
SG&A expenses	$	419.8		$	399.4		$	20.4		5.1	%
Adjusted SG&A expenses (1)	$	419.8		$	395.1		$	24.7		6.3	%
SG&A as % gross profit	64.4		%	64.3		%	0.1		%
Adjusted SG&A as % gross profit (1)	64.4		%	63.6		%	0.8		%


Group 1 Automotive, Inc.
Same Store Operating Data — U.K.
(Unaudited)
(In millions, except unit data)

	Three Months Ended December 31,
	2024			2023			Increase/ (Decrease)			% Change		Currency Impact on Current Period Results		Constant Currency % Change
Revenues:
New vehicle retail sales	$	314.4		$	321.9		$	(7.4)		(2.3)	%	$	10.1	(5.5)	%
Used vehicle retail sales	260.3			269.3			(9.0)			(3.3)	%	9.0		(6.7)	%
Used vehicle wholesale sales	24.2			30.1			(5.9)			(19.6)	%	0.8		(22.3)	%
Total used	284.5			299.4			(14.9)			(5.0)	%	9.8		(8.2)	%
Parts and service sales	75.4			68.6			6.9			10.0	%	2.5		6.3	%
F&I, net	15.8			15.2			0.6			4.1	%	0.5		0.6	%
Total revenues	$	690.2		$	705.0		$	(14.8)		(2.1)	%	$	23.0	(5.4)	%
Gross profit:
New vehicle retail sales	$	22.6		$	28.1		$	(5.4)		(19.4)	%	$	0.6	(21.4)	%
Used vehicle retail sales	11.8			10.8			1.0			9.5	%	0.4		5.5	%
Used vehicle wholesale sales	(1.5)			(3.8)			2.3			60.5	%	—		61.3	%
Total used	10.3			7.0			3.4			48.1	%	0.4		42.3	%
Parts and service sales	42.2			39.1			3.0			7.7	%	1.4		4.2	%
F&I, net	15.8			15.2			0.6			4.1	%	0.5		0.6	%
Total gross profit	$	90.9		$	89.3		$	1.6		1.7	%	$	2.9	(1.5)	%
Gross margin:
New vehicle retail sales	7.2		%	8.7		%	(1.5)		%
Used vehicle retail sales	4.5		%	4.0		%	0.5		%
Used vehicle wholesale sales	(6.2)		%	(12.7)		%	6.5		%
Total used	3.6		%	2.3		%	1.3		%
Parts and service sales	55.9		%	57.1		%	(1.2)		%

Total gross margin	13.2		%	12.7		%	0.5		%
Units sold:
Retail new vehicles sold (1)	7,356			7,675			(319)			(4.2)	%
Retail used vehicles sold	9,283			9,461			(178)			(1.9)	%
Wholesale used vehicles sold	2,876			2,996			(120)			(4.0)	%
Total used	12,159			12,457			(298)			(2.4)	%
Average sales price per unit sold:
New vehicle retail (1)	$	45,710		$	43,599		$	2,111		4.8	%	$	1,474	1.5	%
Used vehicle retail	$	28,041		$	28,461		$	(420)		(1.5)	%	$	970	(4.9)	%
Gross profit per unit sold:
New vehicle retail sales	$	3,076		$	3,656		$	(580)		(15.9)	%	$	77	(18.0)	%
Used vehicle retail sales	$	1,274		$	1,141		$	133		11.6	%	$	47	7.5	%
Used vehicle wholesale sales	$	(526)		$	(1,281)		$	754		58.9	%	$	(10)	59.7	%
Total used	$	848		$	559		$	289		51.8	%	$	34	45.8	%
F&I PRU	$	948		$	884		$	63		7.2	%	$	32	3.6	%
Other:
SG&A expenses	$	79.5		$	75.6		$	3.8		5.1	%	$	2.6	1.7	%
Adjusted SG&A expenses (2)	$	78.1		$	75.6		$	2.5		3.3	%	$	2.5	(0.1)	%
SG&A as % gross profit	87.5		%	84.7		%	2.8		%
Adjusted SG&A as % gross profit (2)	85.9		%	84.7		%	1.3		%


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — Consolidated
(Unaudited)
(In millions, except per share data)

	Three Months Ended December 31, 2024
	U.S. GAAP			Catastrophic events		Dealership and real estate transactions		Restructuring charges		Acquisition costs		Legal items and other professional fees		Asset impairments and accelerated depreciation		Non-GAAP adjusted
SG&A expenses	$	614.3		$	0.4	$	3.4	$	—	$	(1.7)	$	(0.1)	$	—	$	616.3
Depreciation and amortization expense	$	31.5		$	—	$	—	$	—	$	—	$	—	$	(1.8)	$	29.7
Asset impairments	$	33.0		$	—	$	—	$	—	$	—	$	—	$	(33.0)	$	—
Restructuring charges	$	16.7		$	—	$	—	$	(16.7)	$	—	$	—	$	—	$	—
Income (loss) from operations	$	193.7		$	(0.4)	$	(3.4)	$	16.7	$	1.7	$	0.1	$	34.8	$	243.2




Income (loss) before income taxes	$	122.6		$	(0.4)	$	(3.4)	$	16.7	$	1.7	$	0.1	$	34.8	$	172.1
Less: Provision (benefit) for income taxes	28.0			(0.1)		(2.2)		4.2		—		—		8.3		38.2
Net income (loss) from continuing operations	94.6			(0.3)		(1.1)		12.5		1.7		0.1		26.5		133.9
Less: Earnings allocated to participating securities	1.9			—		—		0.2		—		—		0.5		2.6
Net income (loss) from continuing operations available to diluted common shares	$	92.7		$	(0.3)	$	(1.1)	$	12.3	$	1.7	$	0.1	$	25.9	$	131.3

Diluted earnings (loss) per common share from continuing operations	$	7.08		$	(0.02)	$	(0.08)	$	0.94	$	0.13	$	0.01	$	1.98	$	10.02

Effective tax rate	22.9		%													22.2		%

SG&A as % gross profit (1)	69.9		%													70.1		%
Operating margin (2)	3.6		%													4.2		%
Pretax margin (3)	2.2		%													3.1		%

Same Store SG&A expenses	$	499.3		$	0.4	$	—	$	—	$	(1.7)	$	(0.1)	$	—	$	497.9
Same Store SG&A as % gross profit (1)	67.2		%													67.0		%

Same Store income (loss) from operations	$	195.4		$	(0.4)	$	—	$	—	$	1.7	$	0.1	$	34.8	$	231.6
Same Store operating margin (2)	4.0		%													4.8		%


	U.S. GAAP		Non-GAAP adjustments		Non-GAAP adjusted
Net income from discontinued operations	$	0.2	$	—	$	0.2
Less: Earnings allocated to participating securities	—		—		—
Net income from discontinued operations available to diluted common shares	$	0.2	$	—	$	0.2

Net income	$	94.8	$	39.3	$	134.1
Less: Earnings allocated to participating securities	1.9		0.8		2.7
Net income available to diluted common shares	$	92.9	$	38.6	$	131.5

Diluted earnings per common share from discontinued operations	$	0.02	$	—	$	0.02
Diluted earnings per common share from continuing operations	7.08		2.94		10.02
Diluted earnings per common share	$	7.09	$	2.94	$	10.04







	Three Months Ended December 31, 2023
	U.S. GAAP			Catastrophic events		Dealership and real estate transactions		Acquisition costs		Legal items and other professional fees		Non-GAAP adjusted

SG&A expenses	$	413.1		$	(2.0)	$	(0.1)	$	(0.6)	$	(1.7)	$	408.7






SG&A as % gross profit (1)	64.5		%									63.8		%





Same Store SG&A expenses	$	399.4		$	(2.0)	$	—	$	(0.6)	$	(1.7)	$	395.1
Same Store SG&A as % gross profit (1)	64.3		%									63.6		%







	Years Ended December 31, 2024
	U.S. GAAP			Catastrophic events		Dealership and real estate transactions		Acquisition costs		Legal items and other professional fees		Non-GAAP adjusted
SG&A expenses	$	1,704.0		$	(9.4)	$	56.4	$	(11.6)	$	(3.6)	$	1,735.8






SG&A as % gross profit (1)	63.6		%									64.7		%




Same Store SG&A expenses	$	1,636.5		$	(9.4)	$	—	$	(11.6)	$	(3.6)	$	1,611.9
Same Store SG&A as % gross profit (1)	65.8		%									64.8		%







	Years Ended December 31, 2023
	U.S. GAAP			Catastrophic events		Dealership and real estate transactions		Acquisition costs		Legal items and other professional fees		Non-GAAP adjusted

SG&A expenses	$	1,622.9		$	(3.4)	$	18.3	$	(0.9)	$	(6.1)	$	1,630.8






SG&A as % gross profit (1)	62.2		%									62.5		%





Same Store SG&A expenses	$	1,571.2		$	(3.4)	$	—	$	(0.9)	$	(6.1)	$	1,560.8
Same Store SG&A as % gross profit (1)	62.5		%									62.1		%