0001031203false00010312032024-10-302024-10-30


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 30, 2024
Group 1 Automotive, Inc.
(Exact name of Registrant as specified in its charter)

Delaware1-1346176-0506313
(State or other jurisdiction of
incorporation or organization)		(Commission
File Number)		(I.R.S. Employer
Identification No.)
800 Gessner, Suite 500
Houston, Texas 77024
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code (713) 647-5700
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
☐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))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTicker symbol(s)Name of exchange on which registered
Common stock, par value $0.01 per shareGPINew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if that registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨


Item 2.02     Results of Operations and Financial Condition.
On October 30, 2024, Group 1 Automotive, Inc., a Delaware corporation, issued a press release announcing its financial results for the three and nine months ended September 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
As provided in General Instruction B.2. of Form 8-K, the information in this Item 2.02 (including the press release attached as Exhibit 99.1 and incorporated by reference in this Item 2.02) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01    Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.Description
Press release of Group 1 Automotive, Inc., dated as of October 30, 2024.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 
Group 1 Automotive, Inc.
Date:October 30, 2024By: /s/ Daniel J. McHenry
 Daniel J. McHenry
Senior Vice President and Chief Financial Officer


Exhibit 99.1

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FOR IMMEDIATE RELEASE
Group 1 Automotive Reports Third Quarter 2024 Financial Results
•Current quarter diluted earnings per common share from continuing operations of $8.68 and current quarter adjusted diluted earnings per common share from continuing operations (a non-GAAP measure) of $9.90
•Gross profit of $852.7 million from total revenues of $5.2 billion, both quarterly records, and an 8.4% and 11.0% increase, respectively, over the comparable prior year period
HOUSTON, TX, October 30, 2024 — Group 1 Automotive, Inc. (NYSE: GPI) (“Group 1” or the “Company”), a Fortune 250 automotive retailer with 260 dealerships located in the U.S. and U.K., today reported financial results for the third quarter of 2024 (“current quarter”).
Current quarter net income from continuing operations was $117.1 million. Current quarter adjusted net income from continuing operations (a non-GAAP measure) was $133.5 million. Current quarter diluted earnings per common share from continuing operations was $8.68. Current quarter adjusted diluted earnings per common share from continuing operations (a non-GAAP measure) was $9.90. Current quarter adjusted diluted earnings per common share from continuing operations excludes $14.8 million in pre-tax acquisition costs incurred during the current quarter.
“We continue to grow revenues through acquisitions. During the quarter, we executed strategic U.K. transactions which added 58 dealerships. We are excited to expand our operations across the broader U.K. with great brands, and will continue to explore growth-oriented opportunities,” said Daryl Kenningham, Group 1’s President and Chief Executive Officer. “We were pleased to have set quarterly records for new and used vehicle units sold, while GPUs only declined $161 and $63, sequentially from the second quarter, for new and used vehicles, respectively. Global stop sales on certain vehicle models with luxury manufacturers BMW and Lexus impacted sales during the quarter. Weather events in Texas early in the quarter and in the southeast later in the quarter also impacted our business.”
Reconciliations for financial results, non-GAAP metrics, and diluted earnings per common share between continuing and discontinued operations are included in the accompanying financial tables.
Current Quarter Results Overview
Total revenues for the current quarter were $5.2 billion, a 11.0% increase compared to $4.7 billion for the third quarter of 2023 (“prior year quarter”).
Net income from continuing operations for the current quarter was $117.1 million, a 28.6% decrease compared to $164.1 million for the prior year quarter. Current quarter adjusted net income from continuing operations (a non-GAAP measure) was $133.5 million, a 21.4% decrease compared to $169.8 million for the prior year quarter. In the current quarter, net income from continuing operations and adjusted net income from continuing operations were primarily impacted by higher interest expense and depreciation versus the prior year quarter.
Current quarter diluted earnings per common share from continuing operations was $8.68, a 25.6% decrease compared to $11.67 for the prior year quarter. Current quarter adjusted diluted earnings per common share from continuing operations (a non-GAAP measure) was $9.90, an 18.0% decrease compared to $12.07 for the prior year quarter.
1

Third Quarter 2024
Key Performance Metrics
(year-over-year comparable period basis)
Consolidated
Same Store
(a non-GAAP measure)
Reported:
3Q24
Change
3Q24
Change
Total revenues
$5.2B
+11.0%
$4.5B
(1.8)%
Total gross profit (“GP”)
$852.7M
+8.4%
$737.5M
(3.5)%
NV units sold
53,775
+18.6%
44,411
+0.5%
NV GP per retail unit (“PRU”)
$3,407
(20.5)%
$3,449
(19.5)%
Used vehicle (“UV”) retail units sold
55,907
+10.1%
47,635
(3.3)%
UV retail GP PRU
$1,574
(1.7)%
$1,530
(5.3)%
Parts & service (“P&S”) GP
$367.0M
+17.0%
$318.8M
+4.9%
P&S Gross Margin (“GM”)
55.6%
+0.3%
55.1%
(0.2)%
Finance and Insurance (“F&I”) revenues
$214.1M
+7.4%
$192.6M
(0.6)%
F&I GP PRU
$1,952
(5.9)%
$2,093
+0.9%
Selling, General and Administrative (“SG&A”) expenses as a % of GP
69.4%
+621 bps
68.4%
+456 bps
Adjusted SG&A expenses (a non-GAAP measure) as a % of GP
67.5%
+410 bps
66.2%
+313 bps
Corporate Development
We remain focused on quickly and efficiently integrating our acquisitions into our existing operations to drive incremental value creation for our shareholders.
In July 2024, the Company acquired four Mercedes-Benz dealerships located in the U.K. This acquisition is expected to generate $105.0 million in annual revenues with new car sales recorded as net revenue under the agency model.
In August 2024, the Company completed the acquisition of Inchcape Retail automotive operations in the U.K. This acquisition is expected to generate $2.7 billion in annual revenues.
In October 2024, the Company acquired a BMW/MINI dealership located in the U.K. This acquisition is expected to generate approximately $125.0 million in annual revenues.
Year-to-date, the Company has successfully acquired and is in the process of integrating dealership operations with total expected annual revenues of approximately $3.9 billion.
During the current quarter, the Company disposed of one dealership located in California. This disposed dealership generated approximately $65.0 million in annual revenues, bringing year-to-date total disposed annual revenues for the Company to $400.0 million.
Share Repurchases
During the current quarter, the Company repurchased 85,245 shares at an average price per common share of $349.55, for a total of $29.8 million, excluding excise taxes of $0.3 million.
During the nine months ended September 30, 2024, the Company repurchased 438,165 shares, representing approximately 3.2% of the Company’s outstanding common shares at January 1 of the current year, at an average price per common share of $295.80, for a total of $129.6 million, excluding excise taxes of $1.1 million.
As of September 30, 2024, the Company had an aggregate 13.3 million outstanding common shares and unvested restricted stock awards. As of September 30, 2024, the Company had $174.8 million remaining on its Board authorized common share repurchase program.
Future repurchases may be made from time to time, based on market conditions, legal requirements, and other corporate considerations, in the open market or in privately negotiated transactions, and subject to Board approval and covenant restrictions.
2

Third Quarter 2024 Earnings Conference Call Details
Group 1’s senior management will host a conference call today at 10:00 a.m. ET to discuss the third quarter 2024 financial results. The conference call will be simulcast live on the Internet at group1corp.com/events. A webcast replay will be available for 30 days. A copy of the Company’s presentation will also be made available at http://www.group1corp.com/company-presentations.
The conference call will also be available live by dialing in 10 minutes prior to the start of the call at:
Domestic: 1-888-317-6003
International: 1-412-317-6061
Passcode:     2417011
A telephonic replay will be available following the call through November 6, 2024, by dialing:
Domestic: 1-877-344-7529
International: 1-412-317-0088
Replay Code:    5473305
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 260 automotive dealerships, 338 franchises, and 44 collision centers in the United States and the United Kingdom that offer 35 brands of automobiles. Through its dealerships and omni-channel platform, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service contracts; provides automotive maintenance and repair services; and sells vehicle parts.
Group 1 discloses additional information about the Company, its business, and its results of operations at www.group1corp.com, www.group1auto.com, www.group1collision.com, www.acceleride.com, and www.facebook.com/group1auto.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements related to future, not past, events and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. In this context, the forward-looking statements often include statements regarding our strategic investments, goals, plans, projections and guidance regarding our financial position, results of operations and business strategy, including the annualized revenues of recently completed acquisitions or dispositions and other benefits of such currently anticipated or recently completed acquisitions or dispositions. These forward-looking statements often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," "foresee," "may" or "will" and similar expressions. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of manufacturer incentives, (c) the future regulatory environment, (d) our ability to obtain an inventory of desirable new and used vehicles, (e) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (f) our cost of financing and the availability of credit for consumers, (g) our ability to complete acquisitions and dispositions, on a timely basis, if at all and the risks associated therewith, (h) our ability to successfully integrate recent and future acquisitions and realize the expected benefits from consummated acquisitions, (i) foreign exchange controls and currency fluctuations, (j) the armed conflicts in Ukraine and the Middle East, (k) the impacts of continued inflation and potential changes in U.S. trade policy, including the imposition of tariffs and the resulting consequences, (l) our ability to maintain sufficient liquidity to operate, (m) a material failure in or breach of our vendors’ information technology systems and other cybersecurity incidents, and (n) the receipt of any insurance or other recoveries. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.


NON-GAAP FINANCIAL MEASURES, SAME STORE DATA, AND OTHER DATA
In addition to evaluating the financial condition and results of our operations in accordance with U.S. GAAP, from time to time our management evaluates and analyzes results and any impact on the Company of strategic decisions and actions relating to, among other things, cost reduction, growth, profitability improvement initiatives, and other events outside of normal, or "core," business and operations, by considering alternative financial measures not prepared in accordance with U.S. GAAP. In our evaluation of results from time to time, we exclude items that do not arise directly from core operations, such as non-cash asset impairment charges, out-of-period adjustments, legal matters, gains and losses on dealership franchise or real estate transactions, and catastrophic events, such as hailstorms, hurricanes, snow-storm, and employment compensation costs associated with the CDK outage. Because these non-core charges and gains materially affect the Company's financial condition or results in the specific period in which they are recognized, management also evaluates, and makes resource allocation and performance evaluation decisions based on, the related non-GAAP measures excluding such items. This includes evaluating measures such as adjusted selling, general and administrative expenses, adjusted net income, adjusted diluted earnings per share, and constant currency. These adjusted measures are not measures of financial performance under U.S. GAAP, but are instead considered non-GAAP financial performance measures. Non-GAAP measures do not have definitions under U.S. GAAP and may be defined differently by, and not be comparable to similarly titled measures used by, other companies. As a result, any non-GAAP financial measures considered and evaluated by management are reviewed in conjunction with a review of the most directly comparable measures calculated in accordance with U.S. GAAP. We caution investors not to place undue reliance on such non-GAAP measures, but also to consider them with the most directly comparable U.S. GAAP measures.
In addition to using such non-GAAP measures to evaluate results in a specific period, management believes that such measures may provide more complete and consistent comparisons of operational performance on a period-over-period historical basis and a better indication of expected future trends. Our management also uses these adjusted measures in conjunction with U.S. GAAP financial measures to assess our business, including communication with our Board of Directors, investors, and industry analysts concerning financial performance. We disclose these non-GAAP measures, and the related reconciliations, because we believe investors use these metrics in evaluating longer-term period-over-period performance, and to allow investors to better understand and evaluate the information used by management to assess operating performance. The exclusion of certain expenses in the calculation of non-GAAP financial measures should not be construed as an inference that these costs are unusual or infrequent. We anticipate excluding these expenses in the future presentation of our non-GAAP financial measures.
In addition, we evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our underlying business and results of operations, consistent with how we evaluate our performance. We calculate constant currency percentages by converting our current period reported results for entities reporting in currencies other than U.S. dollars using comparative period exchange rates rather than the actual exchange rates in effect during the respective periods. The constant currency performance measures should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with U.S. GAAP. The Same Store amounts presented include the results of dealerships for the identical months in each period presented in comparison, commencing with the first full month in which the dealership was owned by us and, in the case of dispositions, ending with the last full month it was owned by us. Same Store results also include the activities of our corporate headquarters.
Certain amounts in the financial statements may not compute due to rounding. All computations have been calculated using unrounded amounts for all periods presented.


Investor contacts:
Terry Bratton
Manager, Investor Relations
Group 1 Automotive, Inc.
ir@group1auto.com
Media contacts:
Pete DeLongchamps
Senior Vice President, Financial Services and Manufacturer Relations
Group 1 Automotive, Inc.
pdelongchamps@group1auto.com
Kimberly Barta
Head of Marketing and Communications
Group 1 Automotive, Inc.
kbarta@group1auto.com
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223 | cwoods@piercom.com



Group 1 Automotive, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In millions, except per share data)
Three Months Ended September 30,
20242023Increase/(Decrease)% Change
REVENUES:  
New vehicle retail sales$2,567.6 $2,264.5 $303.0 13.4 %
Used vehicle retail sales1,656.5 1,559.6 96.9 6.2 %
Used vehicle wholesale sales123.2 114.7 8.5 7.4 %
Parts and service sales660.0 566.9 93.1 16.4 %
Finance, insurance and other, net214.1 199.4 14.7 7.4 %
Total revenues5,221.4 4,705.1 516.3 11.0 %
COST OF SALES:
New vehicle retail sales2,384.4 2,070.2 314.1 15.2 %
Used vehicle retail sales1,568.5 1,478.2 90.3 6.1 %
Used vehicle wholesale sales122.8 117.1 5.7 4.9 %
Parts and service sales293.1 253.4 39.6 15.6 %
Total cost of sales4,368.7 3,918.9 449.8 11.5 %
GROSS PROFIT852.7 786.2 66.4 8.4 %
Selling, general and administrative expenses591.6 496.7 94.9 19.1 %
Depreciation and amortization expense29.5 23.1 6.4 27.8 %
Asset impairments— 4.8 (4.8)(100.0)%
INCOME FROM OPERATIONS231.6 261.6 (30.0)(11.5)%
Floorplan interest expense31.1 16.5 14.6 88.7 %
Other interest expense, net39.8 26.5 13.3 50.1 %
Other expense (income)1.1 (1.9)3.0 157.2 %
INCOME BEFORE INCOME TAXES159.6 220.5 (60.9)(27.6)%
Provision for income taxes42.5 56.4 (13.9)(24.7)%
Net income from continuing operations117.1 164.1 (47.0)(28.6)%
Net income (loss) from discontinued operations0.2 (0.2)0.4 178.8 %
NET INCOME$117.3 $163.9 $(46.6)(28.4)%
Less: Earnings allocated to participating securities2.4 4.0 (1.6)(40.6)%
Net income available to diluted common shares$114.9 $159.9 $(45.0)(28.1)%
Diluted earnings per share from continuing operations$8.68 $11.67 $(2.99)(25.6)%
Diluted earnings (loss) per share from discontinued operations$0.01 $(0.02)$0.03 182.2 %
DILUTED EARNINGS PER SHARE$8.69 $11.65 $(2.96)(25.4)%
Weighted average dilutive common shares outstanding13.2 13.7 (0.5)(3.7)%
Weighted average participating securities0.3 0.3 (0.1)(20.4)%
Total weighted average shares 13.5 14.1 (0.6)(4.1)%
Effective tax rate on continuing operations26.6 %25.6 %1.0 %




Group 1 Automotive, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In millions, except per share data)
Nine Months Ended September 30,
 20242023Increase/(Decrease)% Change
REVENUES:
New vehicle retail sales$7,114.3 $6,463.4 $650.9 10.1 %
Used vehicle retail sales4,526.5 4,359.0 167.4 3.8 %
Used vehicle wholesale sales333.5 339.2 (5.6)(1.7)%
Parts and service sales1,810.8 1,677.3 133.5 8.0 %
Finance, insurance and other, net603.1 554.8 48.3 8.7 %
Total revenues14,388.3 13,393.7 994.6 7.4 %
COST OF SALES:
New vehicle retail sales6,601.6 5,880.9 720.7 12.3 %
Used vehicle retail sales4,275.7 4,122.2 153.6 3.7 %
Used vehicle wholesale sales335.2 338.6 (3.5)(1.0)%
Parts and service sales814.0 762.3 51.6 6.8 %
Total cost of sales12,026.5 11,104.0 922.5 8.3 %
GROSS PROFIT2,361.8 2,289.7 72.2 3.2 %
Selling, general and administrative expenses1,564.9 1,439.4 125.5 8.7 %
Depreciation and amortization expense81.6 68.6 12.9 18.8 %
Asset impairments— 7.7 (7.7)(100.0)%
INCOME FROM OPERATIONS715.4 773.9 (58.5)(7.6)%
Floorplan interest expense76.3 44.7 31.6 70.6 %
Other interest expense, net102.5 72.1 30.4 42.1 %
Other expense0.7 2.3 (1.6)(69.4)%
INCOME BEFORE INCOME TAXES535.8 654.8 (118.9)(18.2)%
Provision for income taxes133.5 161.6 (28.1)(17.4)%
Net income from continuing operations402.4 493.2 (90.8)(18.4)%
Net income (loss) from discontinued operations1.0 (0.3)1.3 405.1 %
NET INCOME$403.3 $492.9 $(89.5)(18.2)%
Less: Earnings allocated to participating securities8.6 12.2 (3.6)(29.5)%
Net income available to diluted common shares$394.7 $480.6 $(85.9)(17.9)%
Diluted earnings per share from continuing operations$29.61 $34.81 $(5.20)(14.9)%
Diluted earnings (loss) per share from discontinued operations$0.07 $(0.02)$0.09 418.1 %
DILUTED EARNINGS PER SHARE$29.68 $34.79 $(5.11)(14.7)%
Weighted average dilutive common shares outstanding13.3 13.8 (0.5)(3.7)%
Weighted average participating securities0.3 0.4 (0.1)(17.3)%
Total weighted average shares 13.6 14.2 (0.6)(4.1)%
Effective tax rate on continuing operations24.9 %24.7 %0.2 %




Group 1 Automotive, Inc.
Additional Information — Consolidated
(Unaudited)
September 30, 2024December 31, 2023Increase/(Decrease)% Change
SELECTED BALANCE SHEET INFORMATION:
(In millions)
Cash and cash equivalents$58.7 $57.2 $1.5 2.6 %
Inventories, net$2,752.2 $1,963.4 $788.8 40.2 %
Floorplan notes payable, net (1)
$2,269.5 $1,565.4 $704.1 45.0 %
Total debt$2,891.1 $2,098.8 $792.3 37.8 %
Total equity$2,976.2 $2,674.4 $301.8 11.3 %
(1) Amounts are net of offset accounts of $99.8 and $275.2, respectively.
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
NEW VEHICLE UNIT SALES GEOGRAPHIC MIX:
United States 73.8 %81.8 %78.4 %80.7 %
United Kingdom26.2 %18.2 %21.6 %19.3 %
NEW VEHICLE UNIT SALES BRAND MIX:
Toyota/Lexus23.8 %24.0 %25.2 %23.1 %
Volkswagen/Audi/Porsche/SEAT/SKODA16.3 %15.5 %14.5 %15.9 %
BMW/MINI9.6 %10.7 %10.6 %11.4 %
Honda/Acura9.4 %7.4 %9.4 %7.6 %
Chevrolet/GMC/Buick9.0 %10.2 %9.2 %8.8 %
Ford/Lincoln6.9 %7.3 %7.1 %7.8 %
Mercedes-Benz/Sprinter8.9 %6.0 %6.9 %6.3 %
Hyundai/Kia/Genesis5.3 %5.7 %5.6 %5.3 %
Subaru3.2 %2.8 %3.3 %2.7 %
Chrysler/Dodge/Jeep/RAM1.9 %3.7 %2.3 %4.0 %
Nissan1.9 %3.7 %2.3 %3.9 %
Jaguar/Land Rover2.3 %1.6 %2.1 %1.7 %
Mazda1.2 %1.2 %1.2 %1.2 %
Other0.2 %0.4 %0.2 %0.4 %
100.0 %100.0 %100.0 %100.0 %
September 30, 2024December 31, 2023September 30, 2023
DAYS’ SUPPLY IN INVENTORY (1):
Consolidated
New vehicle inventory433728
Used vehicle inventory383534
U.S.
New vehicle inventory563630
Used vehicle inventory302929
U.K.
New vehicle inventory234822
Used vehicle inventory545848
(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.



Group 1 Automotive, Inc.
Reported Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)
Three Months Ended September 30,
20242023Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$2,567.6 $2,264.5 $303.0 13.4 %$19.9 12.5 %
Used vehicle retail sales1,656.5 1,559.6 96.9 6.2 %14.2 5.3 %
Used vehicle wholesale sales123.2 114.7 8.5 7.4 %1.1 6.4 %
Total used1,779.7 1,674.3 105.4 6.3 %15.4 5.4 %
Parts and service sales660.0 566.9 93.1 16.4 %3.7 15.8 %
F&I, net214.1 199.4 14.7 7.4 %0.9 6.9 %
Total revenues$5,221.4 $4,705.1 $516.3 11.0 %$39.8 10.1 %
Gross profit: 
New vehicle retail sales$183.2 $194.3 $(11.1)(5.7)%$1.7 (6.6)%
Used vehicle retail sales88.0 81.4 6.6 8.2 %0.7 7.3 %
Used vehicle wholesale sales0.4 (2.3)2.7 117.2 %— 118.0 %
Total used88.4 79.0 9.4 11.9 %0.7 11.0 %
Parts and service sales367.0 313.5 53.4 17.0 %2.2 16.3 %
F&I, net214.1 199.4 14.7 7.4 %0.9 6.9 %
Total gross profit$852.7 $786.2 $66.4 8.4 %$5.6 7.7 %
Gross margin:
New vehicle retail sales7.1 %8.6 %(1.4)%
Used vehicle retail sales5.3 %5.2 %0.1 %
Used vehicle wholesale sales0.3 %(2.0)%2.4 %
Total used5.0 %4.7 %0.2 %
Parts and service sales55.6 %55.3 %0.3 %
Total gross margin16.3 %16.7 %(0.4)%
Units sold:
Retail new vehicles sold (1)
53,775 45,350 8,425 18.6 %
Retail used vehicles sold55,907 50,799 5,108 10.1 %
Wholesale used vehicles sold14,220 11,740 2,480 21.1 %
Total used70,127 62,539 7,588 12.1 %
Average sales price per unit sold:
New vehicle retail (1)
$48,390 $50,300 $(1,910)(3.8)%$372 (4.5)%
Used vehicle retail$29,630 $30,701 $(1,071)(3.5)%$254 (4.3)%
Gross profit per unit sold:
New vehicle retail sales$3,407 $4,285 $(878)(20.5)%$32 (21.2)%
Used vehicle retail sales$1,574 $1,602 $(28)(1.7)%$13 (2.5)%
Used vehicle wholesale sales$28 $(199)$227 114.2 %$(1)114.9 %
Total used$1,261 $1,264 $(3)(0.3)%$10 (1.0)%
F&I PRU$1,952 $2,073 $(121)(5.9)%$9 (6.3)%
Other:
SG&A expenses$591.6 $496.7 $94.9 19.1 %$4.3 18.2 %
Adjusted SG&A expenses (2)
$575.9 $498.8 $77.1 15.5 %$4.1 14.6 %
SG&A as % gross profit69.4 %63.2 %6.2 %
Adjusted SG&A as % gross profit (2)
67.5 %63.4 %4.1 %
Operating margin %4.4 %5.6 %(1.1)%
Adjusted operating margin % (2)
4.8 %5.6 %(0.9)%
Pretax margin %3.1 %4.7 %(1.6)%
Adjusted pretax margin % (2)
3.4 %4.8 %(1.4)%
Floorplan expense:
Floorplan interest expense$31.1 $16.5 $14.6 88.7 %$0.2 87.6 %
Less: Floorplan assistance (3)
24.1 18.8 5.3 28.2 %— 28.1 %
Net floorplan expense$7.0 $(2.3)$9.3 $0.2 
(1) Retail new vehicle units sold include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
(3) Floorplan assistance is included within New vehicle retail Gross profit above and New vehicle retail Cost of sales in our Condensed Consolidated Statements of Operations.



Group 1 Automotive, Inc.
Reported Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)
Nine Months Ended September 30,
20242023Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$7,114.3 $6,463.4 $650.9 10.1 %$41.2 9.4 %
Used vehicle retail sales4,526.5 4,359.0 167.4 3.8 %32.7 3.1 %
Used vehicle wholesale sales333.5 339.2 (5.6)(1.7)%2.6 (2.4)%
Total used4,860.0 4,698.2 161.8 3.4 %35.3 2.7 %
Parts and service sales1,810.8 1,677.3 133.5 8.0 %8.7 7.4 %
F&I, net603.1 554.8 48.3 8.7 %2.0 8.4 %
Total revenues$14,388.3 $13,393.7 $994.6 7.4 %$87.0 6.8 %
Gross profit: 
New vehicle retail sales$512.8 $582.5 $(69.8)(12.0)%$3.3 (12.5)%
Used vehicle retail sales250.8 236.9 13.9 5.9 %1.7 5.1 %
Used vehicle wholesale sales(1.6)0.5 (2.2)NM— NM
Total used249.1 237.4 11.7 4.9 %1.7 4.2 %
Parts and service sales996.8 915.0 81.9 8.9 %5.0 8.4 %
F&I, net603.1 554.8 48.3 8.7 %2.0 8.4 %
Total gross profit$2,361.8 $2,289.7 $72.2 3.2 %$12.0 2.6 %
Gross margin:
New vehicle retail sales7.2 %9.0 %(1.8)%
Used vehicle retail sales5.5 %5.4 %0.1 %
Used vehicle wholesale sales(0.5)%0.2 %(0.6)%
Total used5.1 %5.1 %0.1 %
Parts and service sales55.0 %54.6 %0.5 %
Total gross margin16.4 %17.1 %(0.7)%
Units sold:
Retail new vehicles sold (1)
145,738 129,739 15,999 12.3 %
Retail used vehicles sold154,350 143,000 11,350 7.9 %
Wholesale used vehicles sold37,867 32,607 5,260 16.1 %
Total used192,217 175,607 16,610 9.5 %
Average sales price per unit sold:
New vehicle retail (1)
$49,318 $50,172 $(854)(1.7)%$285 (2.3)%
Used vehicle retail$29,326 $30,483 $(1,157)(3.8)%$212 (4.5)%
Gross profit per unit sold:
New vehicle retail sales$3,518 $4,490 $(972)(21.6)%$23 (22.1)%
Used vehicle retail sales$1,625 $1,657 $(32)(1.9)%$11 (2.6)%
Used vehicle wholesale sales$(43)$16 $(59)NM$(1)NM
Total used$1,296 $1,352 $(56)(4.1)%$9 (4.8)%
F&I PRU$2,010 $2,034 $(24)(1.2)%$7 (1.5)%
Other:
SG&A expenses$1,564.9 $1,439.4 $125.5 8.7 %$9.3 8.1 %
Adjusted SG&A expenses (2)
$1,584.2 $1,452.7 $131.6 9.1 %$9.0 8.4 %
SG&A as % gross profit66.3 %62.9 %3.4 %
Adjusted SG&A as % gross profit (2)
67.1 %63.4 %3.6 %
Operating margin %5.0 %5.8 %(0.8)%
Adjusted operating margin % (2)
4.9 %5.7 %(0.9)%
Pretax margin %3.7 %4.9 %(1.2)%
Adjusted pretax margin % (2)
3.6 %4.8 %(1.2)%
Floorplan expense:
Floorplan interest expense$76.3 $44.7 $31.6 70.6 %$0.4 69.8 %
Less: Floorplan assistance (3)
63.4 51.9 11.6 22.3 %— 22.2 %
Net floorplan expense$12.9 $(7.1)$20.0 $0.3 
(1) Retail new vehicle units sold include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
(3) Floorplan assistance is included within New vehicle retail Gross profit above and New vehicle retail Cost of sales in our Condensed Consolidated Statements of Operations.
NM - Not Meaningful


Group 1 Automotive, Inc.
Reported Operating Data — U.S.
(Unaudited)
(In millions, except unit data)
Three Months Ended September 30,
20242023Increase/(Decrease)% Change
Revenues:
New vehicle retail sales$2,016.8 $1,920.2 $96.6 5.0 %
Used vehicle retail sales1,158.4 1,223.5 (65.2)(5.3)%
Used vehicle wholesale sales82.9 80.1 2.8 3.5 %
Total used1,241.2 1,303.6 (62.4)(4.8)%
Parts and service sales528.4 494.4 34.0 6.9 %
F&I, net184.6 181.5 3.2 1.8 %
Total revenues$3,971.1 $3,899.7 $71.5 1.8 %
Gross profit:
New vehicle retail sales$140.2 $164.9 $(24.7)(15.0)%
Used vehicle retail sales61.2 65.7 (4.5)(6.8)%
Used vehicle wholesale sales1.3 (0.4)1.7 NM
Total used62.5 65.3 (2.8)(4.3)%
Parts and service sales290.8 271.0 19.7 7.3 %
F&I, net184.6 181.5 3.2 1.8 %
Total gross profit$678.1 $682.7 $(4.6)(0.7)%
Gross margin:
New vehicle retail sales7.0 %8.6 %(1.6)%
Used vehicle retail sales5.3 %5.4 %(0.1)%
Used vehicle wholesale sales1.5 %(0.5)%2.1 %
Total used5.0 %5.0 %— %
Parts and service sales55.0 %54.8 %0.2 %
Total gross margin17.1 %17.5 %(0.4)%
Units sold:
Retail new vehicles sold39,700 37,079 2,621 7.1 %
Retail used vehicles sold38,775 39,676 (901)(2.3)%
Wholesale used vehicles sold9,577 8,380 1,197 14.3 %
Total used48,352 48,056 296 0.6 %
Average sales price per unit sold:
New vehicle retail$50,801 $51,786 $(985)(1.9)%
Used vehicle retail$29,874 $30,838 $(964)(3.1)%
Gross profit per unit sold:
New vehicle retail sales$3,532 $4,449 $(917)(20.6)%
Used vehicle retail sales$1,579 $1,656 $(77)(4.7)%
Used vehicle wholesale sales$133 $(51)$184 NM
Total used$1,293 $1,359 $(66)(4.9)%
F&I PRU$2,353 $2,364 $(11)(0.5)%
Other:
SG&A expenses$445.4 $417.4 $28.0 6.7 %
Adjusted SG&A expenses (1)
$436.2 $419.5 $16.7 4.0 %
SG&A as % gross profit65.7 %61.1 %4.5 %
Adjusted SG&A as % gross profit (1)
64.3 %61.4 %2.9 %
(1) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
NM — Not Meaningful


Group 1 Automotive, Inc.
Reported Operating Data — U.S.
(Unaudited)
(In millions, except unit data)
Nine Months Ended September 30,
20242023Increase/(Decrease)% Change
Revenues:
New vehicle retail sales$5,826.2 $5,444.3 $381.9 7.0 %
Used vehicle retail sales3,409.7 3,393.5 16.3 0.5 %
Used vehicle wholesale sales241.2 242.2 (1.0)(0.4)%
Total used3,650.9 3,635.7 15.2 0.4 %
Parts and service sales1,521.0 1,459.4 61.6 4.2 %
F&I, net539.9 502.3 37.6 7.5 %
Total revenues$11,538.0 $11,041.7 $496.4 4.5 %
Gross profit: 
New vehicle retail sales$416.4 $489.7 $(73.4)(15.0)%
Used vehicle retail sales193.7 187.5 6.2 3.3 %
Used vehicle wholesale sales3.9 3.0 0.9 30.8 %
Total used197.6 190.5 7.1 3.7 %
Parts and service sales831.1 787.4 43.7 5.5 %
F&I, net539.9 502.3 37.6 7.5 %
Total gross profit$1,985.0 $1,970.0 $15.0 0.8 %
Gross margin:
New vehicle retail sales7.1 %9.0 %(1.8)%
Used vehicle retail sales5.7 %5.5 %0.2 %
Used vehicle wholesale sales1.6 %1.2 %0.4 %
Total used5.4 %5.2 %0.2 %
Parts and service sales54.6 %54.0 %0.7 %
Total gross margin17.2 %17.8 %(0.6)%
Units sold:
Retail new vehicles sold114,314 104,657 9,657 9.2 %
Retail used vehicles sold115,271 110,422 4,849 4.4 %
Wholesale used vehicles sold27,629 23,296 4,333 18.6 %
Total used142,900 133,718 9,182 6.9 %
Average sales price per unit sold:
New vehicle retail$50,967 $52,020 $(1,053)(2.0)%
Used vehicle retail$29,580 $30,732 $(1,152)(3.7)%
Gross profit per unit sold:
New vehicle retail sales$3,642 $4,679 $(1,037)(22.2)%
Used vehicle retail sales$1,680 $1,698 $(18)(1.1)%
Used vehicle wholesale sales$143 $130 $13 10.3 %
Total used$1,383 $1,425 $(42)(2.9)%
F&I PRU$2,352 $2,335 $16 0.7 %
Other:
SG&A expenses$1,257.9 $1,209.8 $48.1 4.0 %
Adjusted SG&A expenses (1)
$1,286.2 $1,222.1 $64.1 5.2 %
SG&A as % gross profit63.4 %61.4 %2.0 %
Adjusted SG&A as % gross profit (1)
64.8 %62.0 %2.8 %
(1) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.





Group 1 Automotive, Inc.
Reported Operating Data — U.K.
(Unaudited)
(In millions, except unit data)
Three Months Ended September 30,
20242023Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$550.7 $344.4 $206.4 59.9 %$19.9 54.2 %
Used vehicle retail sales498.2 336.1 162.1 48.2 %14.2 44.0 %
Used vehicle wholesale sales40.3 34.6 5.7 16.4 %1.1 13.1 %
Total used538.5 370.7 167.8 45.3 %15.4 41.1 %
Parts and service sales131.6 72.5 59.1 81.4 %3.7 76.3 %
F&I, net29.4 17.9 11.6 64.6 %0.9 59.3 %
Total revenues$1,250.3 $805.5 $444.8 55.2 %$39.8 50.3 %
Gross profit:
New vehicle retail sales$43.0 $29.4 $13.6 46.4 %$1.7 40.6 %
Used vehicle retail sales26.8 15.7 11.1 71.0 %0.7 66.4 %
Used vehicle wholesale sales(0.9)(1.9)1.0 54.3 %— 55.2 %
Total used25.9 13.8 12.2 88.3 %0.7 83.2 %
Parts and service sales76.2 42.5 33.7 79.3 %2.2 74.0 %
F&I, net29.4 17.9 11.6 64.6 %0.9 59.3 %
Total gross profit$174.5 $103.5 $71.0 68.6 %$5.6 63.2 %
Gross margin:
New vehicle retail sales7.8 %8.5 %(0.7)%
Used vehicle retail sales5.4 %4.7 %0.7 %
Used vehicle wholesale sales(2.2)%(5.5)%3.3 %
Total used4.8 %3.7 %1.1 %
Parts and service sales57.9 %58.6 %(0.7)%
Total gross margin14.0 %12.9 %1.1 %
Units sold:
Retail new vehicles sold (1)
14,075 8,271 5,804 70.2 %
Retail used vehicles sold17,132 11,123 6,009 54.0 %
Wholesale used vehicles sold4,643 3,360 1,283 38.2 %
Total used21,775 14,483 7,292 50.3 %
Average sales price per unit sold:
New vehicle retail (1)
$41,188 $43,342 $(2,154)(5.0)%$1,485 (8.4)%
Used vehicle retail$29,078 $30,213 $(1,135)(3.8)%$829 (6.5)%
Gross profit per unit sold:
New vehicle retail sales$3,055 $3,551 $(497)(14.0)%$121 (17.4)%
Used vehicle retail sales$1,563 $1,408 $155 11.0 %$42 8.0 %
Used vehicle wholesale sales$(187)$(566)$379 66.9 %$(4)67.6 %
Total used$1,190 $950 $240 25.3 %$32 21.8 %
F&I PRU$944 $922 $21 2.3 %$30 (1.0)%
Other:
SG&A expenses$146.1 $79.3 $66.9 84.4 %$4.3 79.0 %
Adjusted SG&A expenses (2)
$139.6 $79.3 $60.4 76.2 %$4.1 71.0 %
SG&A as % gross profit83.7 %76.6 %7.1 %
Adjusted SG&A as % gross profit (2)
80.0 %76.6 %3.4 %
(1) Retail new vehicle units sold include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.



Group 1 Automotive, Inc.
Reported Operating Data — U.K.
(Unaudited)
(In millions, except unit data)
Nine Months Ended September 30,
20242023Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$1,288.2 $1,019.1 $269.0 26.4 %$41.2 22.4 %
Used vehicle retail sales1,116.7 965.6 151.2 15.7 %32.7 12.3 %
Used vehicle wholesale sales92.3 96.9 (4.6)(4.8)%2.6 (7.4)%
Total used1,209.1 1,062.5 146.6 13.8 %35.3 10.5 %
Parts and service sales289.8 217.9 71.9 33.0 %8.7 29.0 %
F&I, net63.2 52.5 10.7 20.5 %2.0 16.7 %
Total revenues$2,850.2 $2,352.0 $498.2 21.2 %$87.0 17.5 %
Gross profit: 
New vehicle retail sales$96.4 $92.8 $3.6 3.9 %$3.3 0.3 %
Used vehicle retail sales57.1 49.4 7.7 15.6 %1.7 12.1 %
Used vehicle wholesale sales(5.6)(2.5)(3.1)(124.2)%— (122.4)%
Total used51.5 46.9 4.6 9.8 %1.7 6.2 %
Parts and service sales165.7 127.5 38.2 30.0 %5.0 26.0 %
F&I, net63.2 52.5 10.7 20.5 %2.0 16.7 %
Total gross profit$376.8 $319.7 $57.2 17.9 %$12.0 14.1 %
Gross margin:
New vehicle retail sales7.5 %9.1 %(1.6)%
Used vehicle retail sales5.1 %5.1 %— %
Used vehicle wholesale sales(6.0)%(2.6)%(3.5)%
Total used4.3 %4.4 %(0.2)%
Parts and service sales57.2 %58.5 %(1.3)%
Total gross margin13.2 %13.6 %(0.4)%
Units sold:
Retail new vehicles sold (1)
31,424 25,082 6,342 25.3 %
Retail used vehicles sold39,079 32,578 6,501 20.0 %
Wholesale used vehicles sold10,238 9,311 927 10.0 %
Total used49,317 41,889 7,428 17.7 %
Average sales price per unit sold:
New vehicle retail (1)
$43,001 $42,149 $852 2.0 %$1,375 (1.2)%
Used vehicle retail$28,577 $29,639 $(1,062)(3.6)%$837 (6.4)%
Gross profit per unit sold:
New vehicle retail sales$3,067 $3,699 $(632)(17.1)%$106 (19.9)%
Used vehicle retail sales$1,461 $1,516 $(55)(3.7)%$44 (6.6)%
Used vehicle wholesale sales$(545)$(267)$(278)(103.9)%$(4)(102.2)%
Total used$1,044 $1,120 $(75)(6.7)%$34 (9.8)%
F&I PRU$897 $910 $(13)(1.5)%$28 (4.6)%
Other:
SG&A expenses$307.0 $229.6 $77.4 33.7 %$9.3 29.7 %
Adjusted SG&A expenses (2)
$298.0 $230.5 $67.5 29.3 %$9.0 25.4 %
SG&A as % gross profit81.5 %71.8 %9.6 %
Adjusted SG&A as % gross profit (2)
79.1 %72.1 %7.0 %
(1) Retail new vehicle units sold include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.




Group 1 Automotive, Inc.
Same Store Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)
Three Months Ended September 30,
20242023Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$2,209.3 $2,208.6 $0.7 — %$12.0 (0.5)%
Used vehicle retail sales1,411.1 1,514.0 (102.8)(6.8)%8.3 (7.3)%
Used vehicle wholesale sales100.6 110.5 (9.9)(8.9)%0.7 (9.5)%
Total used1,511.8 1,624.5 (112.7)(6.9)%9.0 (7.5)%
Parts and service sales578.8 549.7 29.1 5.3 %2.1 4.9 %
F&I, net192.6 193.8 (1.1)(0.6)%0.5 (0.9)%
Total revenues$4,492.5 $4,576.5 $(84.0)(1.8)%$23.5 (2.4)%
Gross profit: 
New vehicle retail sales$153.2 $189.4 $(36.2)(19.1)%$0.9 (19.6)%
Used vehicle retail sales72.9 79.6 (6.7)(8.4)%0.4 (8.9)%
Used vehicle wholesale sales— (2.2)2.3 102.0 %— 103.2 %
Total used72.9 77.3 (4.4)(5.7)%0.3 (6.1)%
Parts and service sales318.8 303.9 14.9 4.9 %1.3 4.5 %
F&I, net192.6 193.8 (1.1)(0.6)%0.5 (0.9)%
Total gross profit$737.5 $764.4 $(26.8)(3.5)%$3.1 (3.9)%
Gross margin:
New vehicle retail sales6.9 %8.6 %(1.6)%
Used vehicle retail sales5.2 %5.3 %(0.1)%
Used vehicle wholesale sales— %(2.0)%2.1 %
Total used4.8 %4.8 %0.1 %
Parts and service sales55.1 %55.3 %(0.2)%
Total gross margin16.4 %16.7 %(0.3)%
Units sold:
Retail new vehicles sold (1)
44,411 44,185 226 0.5 %
Retail used vehicles sold47,635 49,252 (1,617)(3.3)%
Wholesale used vehicles sold11,682 11,349 333 2.9 %
Total used59,317 60,601 (1,284)(2.1)%
Average sales price per unit sold:
New vehicle retail (1)
$50,295 $50,360 $(66)(0.1)%$272 (0.7)%
Used vehicle retail$29,624 $30,739 $(1,115)(3.6)%$174 (4.2)%
Gross profit per unit sold:
New vehicle retail sales$3,449 $4,287 $(837)(19.5)%$21 (20.0)%
Used vehicle retail sales$1,530 $1,615 $(85)(5.3)%$8 (5.8)%
Used vehicle wholesale sales$4 $(196)$200 101.9 %$(2)103.1 %
Total used$1,229 $1,276 $(47)(3.7)%$6 (4.1)%
F&I PRU$2,093 $2,074 $19 0.9 %$6 0.6 %
Other:
SG&A expenses$504.3 $487.8 $16.5 3.4 %$2.4 2.9 %
Adjusted SG&A expenses (2)
$488.1 $481.9 $6.2 1.3 %$2.2 0.8 %
SG&A as % gross profit68.4 %63.8 %4.6 %
Adjusted SG&A as % gross profit (2)
66.2 %63.0 %3.1 %
Operating margin %4.6 %5.5 %(0.8)%
Adjusted operating margin % (2)
5.0 %5.7 %(0.7)%
(1) Retail new vehicle units sold include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.




Group 1 Automotive, Inc.
Same Store Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)
Nine Months Ended September 30,
20242023Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$6,344.2 $6,251.4 $92.8 1.5 %$30.6 1.0 %
Used vehicle retail sales4,112.2 4,200.1 (87.9)(2.1)%23.7 (2.7)%
Used vehicle wholesale sales297.5 323.3 (25.8)(8.0)%1.9 (8.6)%
Total used4,409.6 4,523.4 (113.7)(2.5)%25.5 (3.1)%
Parts and service sales1,665.8 1,613.5 52.4 3.2 %6.1 2.9 %
F&I, net551.3 534.6 16.7 3.1 %1.4 2.9 %
Total revenues$12,971.0 $12,922.9 $48.2 0.4 %$63.5 (0.1)%
Gross profit: 
New vehicle retail sales$452.3 $564.9 $(112.6)(19.9)%$2.3 (20.3)%
Used vehicle retail sales225.6 229.2 (3.6)(1.6)%1.1 (2.1)%
Used vehicle wholesale sales(2.4)0.7 (3.1)NM(0.1)NM
Total used223.2 229.9 (6.7)(2.9)%1.1 (3.4)%
Parts and service sales909.4 879.3 30.0 3.4 %3.5 3.0 %
F&I, net551.3 534.6 16.7 3.1 %1.4 2.9 %
Total gross profit$2,136.2 $2,208.7 $(72.5)(3.3)%$8.3 (3.7)%
Gross margin:
New vehicle retail sales7.1 %9.0 %(1.9)%
Used vehicle retail sales5.5 %5.5 %— %
Used vehicle wholesale sales(0.8)%0.2 %(1.0)%
Total used5.1 %5.1 %— %
Parts and service sales54.6 %54.5 %0.1 %
Total gross margin16.5 %17.1 %(0.6)%
Units sold:
Retail new vehicles sold (1)
128,043 125,426 2,617 2.1 %
Retail used vehicles sold140,568 137,539 3,029 2.2 %
Wholesale used vehicles sold33,668 31,281 2,387 7.6 %
Total used174,236 168,820 5,416 3.2 %
Average sales price per unit sold:
New vehicle retail (1)
$50,037 $50,207 $(170)(0.3)%$241 (0.8)%
Used vehicle retail$29,254 $30,537 $(1,283)(4.2)%$169 (4.8)%
Gross profit per unit sold:
New vehicle retail sales$3,533 $4,504 $(971)(21.6)%$18 (22.0)%
Used vehicle retail sales$1,605 $1,667 $(62)(3.7)%$8 (4.2)%
Used vehicle wholesale sales$(71)$21 $(93)NM$(2)NM
Total used$1,281 $1,362 $(81)(5.9)%$6 (6.4)%
F&I PRU$2,052 $2,033 $19 1.0 %$5 0.7 %
Other:
SG&A expenses$1,461.2 $1,398.6 $62.6 4.5 %$6.4 4.0 %
Adjusted SG&A expenses (2)
$1,427.5 $1,392.4 $35.1 2.5 %$6.0 2.1 %
SG&A as % gross profit68.4 %63.3 %5.1 %
Adjusted SG&A as % gross profit (2)
66.8 %63.0 %3.8 %
Operating margin %4.6 %5.7 %(1.1)%
Adjusted operating margin % (2)
4.9 %5.8 %(0.9)%
(1) Retail new vehicle units sold include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
NM - Not Meaningful



Group 1 Automotive, Inc.
Same Store Operating Data — U.S.
(Unaudited)
(In millions, except unit data)
Three Months Ended September 30,
20242023Increase/(Decrease)% Change
Revenues:
New vehicle retail sales$1,854.5 $1,864.2 $(9.8)(0.5)%
Used vehicle retail sales1,099.1 1,177.9 (78.8)(6.7)%
Used vehicle wholesale sales76.0 75.9 0.1 0.1 %
Total used1,175.1 1,253.8 (78.7)(6.3)%
Parts and service sales498.9 479.9 19.0 4.0 %
F&I, net174.7 175.9 (1.2)(0.7)%
Total revenues$3,703.2 $3,773.8 $(70.6)(1.9)%
Gross profit:
New vehicle retail sales$128.4 $160.0 $(31.6)(19.8)%
Used vehicle retail sales58.3 63.9 (5.6)(8.8)%
Used vehicle wholesale sales1.2 (0.3)1.6 NM
Total used59.5 63.6 (4.1)(6.4)%
Parts and service sales272.8 262.7 10.2 3.9 %
F&I, net174.7 175.9 (1.2)(0.7)%
Total gross profit$635.5 $662.1 $(26.7)(4.0)%
Gross margin:
New vehicle retail sales6.9 %8.6 %(1.7)%
Used vehicle retail sales5.3 %5.4 %(0.1)%
Used vehicle wholesale sales1.6 %(0.4)%2.0 %
Total used5.1 %5.1 %— %
Parts and service sales54.7 %54.7 %— %
Total gross margin17.2 %17.5 %(0.4)%
Units sold:
Retail new vehicles sold36,031 35,914 117 0.3 %
Retail used vehicles sold36,597 38,129 (1,532)(4.0)%
Wholesale used vehicles sold8,753 7,989 764 9.6 %
Total used45,350 46,118 (768)(1.7)%
Average sales price per unit sold:
New vehicle retail$51,468 $51,908 $(440)(0.8)%
Used vehicle retail$30,033 $30,893 $(860)(2.8)%
Gross profit per unit sold:
New vehicle retail sales$3,563 $4,456 $(893)(20.0)%
Used vehicle retail sales$1,593 $1,676 $(83)(5.0)%
Used vehicle wholesale sales$141 $(41)$181 NM
Total used$1,312 $1,378 $(66)(4.8)%
F&I PRU$2,406 $2,375 $30 1.3 %
Other:
SG&A expenses$417.9 $409.8 $8.1 2.0 %
Adjusted SG&A expenses (1)
$408.1 $403.9 $4.2 1.0 %
SG&A as % gross profit65.8 %61.9 %3.9 %
Adjusted SG&A as % gross profit (1)
64.2 %61.0 %3.2 %
(1) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
NM — Not Meaningful




Group 1 Automotive, Inc.
Same Store Operating Data — U.S.
(Unaudited)
(In millions, except unit data)
Nine Months Ended September 30,
20242023Increase/(Decrease)% Change
Revenues:
New vehicle retail sales$5,252.0 $5,232.3 $19.7 0.4 %
Used vehicle retail sales3,181.6 3,234.5 (52.9)(1.6)%
Used vehicle wholesale sales220.8 226.3 (5.6)(2.5)%
Total used3,402.4 3,460.9 (58.5)(1.7)%
Parts and service sales1,433.6 1,404.1 29.5 2.1 %
F&I, net499.6 482.1 17.5 3.6 %
Total revenues$10,587.6 $10,579.3 $8.2 0.1 %
Gross profit:
New vehicle retail sales$374.1 $472.1 $(98.0)(20.8)%
Used vehicle retail sales180.7 179.8 0.9 0.5 %
Used vehicle wholesale sales3.5 3.2 0.3 10.8 %
Total used184.2 183.0 1.2 0.7 %
Parts and service sales776.5 755.7 20.8 2.8 %
F&I, net499.6 482.1 17.5 3.6 %
Total gross profit$1,834.5 $1,892.9 $(58.4)(3.1)%
Gross margin:
New vehicle retail sales7.1 %9.0 %(1.9)%
Used vehicle retail sales5.7 %5.6 %0.1 %
Used vehicle wholesale sales1.6 %1.4 %0.2 %
Total used5.4 %5.3 %0.1 %
Parts and service sales54.2 %53.8 %0.3 %
Total gross margin17.3 %17.9 %(0.6)%
Units sold:
Retail new vehicles sold102,314 100,344 1,970 2.0 %
Retail used vehicles sold107,583 104,961 2,622 2.5 %
Wholesale used vehicles sold25,144 21,970 3,174 14.4 %
Total used132,727 126,931 5,796 4.6 %
Average sales price per unit sold:
New vehicle retail$51,332 $52,143 $(811)(1.6)%
Used vehicle retail$29,573 $30,816 $(1,243)(4.0)%
Gross profit per unit sold:
New vehicle retail sales$3,657 $4,705 $(1,048)(22.3)%
Used vehicle retail sales$1,680 $1,713 $(34)(2.0)%
Used vehicle wholesale sales$139 $144 $(5)(3.2)%
Total used$1,388 $1,442 $(54)(3.7)%
F&I PRU$2,380 $2,348 $32 1.4 %
Other:
SG&A expenses$1,216.7 $1,171.9 $44.9 3.8 %
Adjusted SG&A expenses (1)
$1,192.1 $1,165.7 $26.4 2.3 %
SG&A as % gross profit 66.3 %61.9 %4.4 %
Adjusted SG&A as % gross profit (1)
65.0 %61.6 %3.4 %
(1) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.





Group 1 Automotive, Inc.
Same Store Operating Data — U.K.
(Unaudited)
(In millions, except unit data)
Three Months Ended September 30,
20242023Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$354.9 $344.4 $10.5 3.0 %$12.0 (0.4)%
Used vehicle retail sales312.0 336.1 (24.0)(7.2)%8.3 (9.6)%
Used vehicle wholesale sales24.7 34.6 (10.0)(28.8)%0.7 (30.7)%
Total used336.7 370.7 (34.0)(9.2)%9.0 (11.6)%
Parts and service sales79.9 69.8 10.1 14.4 %2.1 11.4 %
F&I, net17.9 17.9 — 0.1 %0.5 (2.9)%
Total revenues$789.3 $802.7 $(13.4)(1.7)%$23.5 (4.6)%
Gross profit:
New vehicle retail sales$24.8 $29.4 $(4.6)(15.5)%$0.9 (18.8)%
Used vehicle retail sales14.6 15.7 (1.1)(6.9)%0.4 (9.2)%
Used vehicle wholesale sales(1.2)(1.9)0.7 37.7 %— 39.0 %
Total used13.4 13.8 (0.4)(2.6)%0.3 (5.1)%
Parts and service sales46.0 41.2 4.8 11.5 %1.3 8.5 %
F&I, net17.9 17.9 — 0.1 %0.5 (2.9)%
Total gross profit$102.1 $102.2 $(0.2)(0.2)%$3.1 (3.2)%
Gross margin:
New vehicle retail sales7.0 %8.5 %(1.5)%
Used vehicle retail sales4.7 %4.7 %— %
Used vehicle wholesale sales(4.8)%(5.5)%0.7 %
Total used4.0 %3.7 %0.3 %
Parts and service sales57.6 %59.1 %(1.5)%
Total gross margin12.9 %12.7 %0.2 %
Units sold:
Retail new vehicles sold (1)
8,380 8,271 109 1.3 %
Retail used vehicles sold11,038 11,123 (85)(0.8)%
Wholesale used vehicles sold2,929 3,360 (431)(12.8)%
Total used13,967 14,483 (516)(3.6)%
Average sales price per unit sold:
New vehicle retail (1)
$44,920 $43,342 $1,578 3.6 %$1,517 0.1 %
Used vehicle retail$28,267 $30,213 $(1,946)(6.4)%$753 (8.9)%
Gross profit per unit sold:
New vehicle retail sales$2,960 $3,551 $(591)(16.6)%$113 (19.8)%
Used vehicle retail sales$1,322 $1,408 $(87)(6.1)%$34 (8.5)%
Used vehicle wholesale sales$(405)$(566)$161 28.5 %$(9)30.1 %
Total used$960 $950 $9 1.0 %$25 (1.6)%
F&I PRU$922 $922 $(1)(0.1)%$28 (3.1)%
Other:
SG&A expenses$86.4 $78.0 $8.4 10.8 %$2.4 7.8 %
Adjusted SG&A expenses (2)
$79.9 $78.0 $2.0 2.5 %$2.2 (0.3)%
SG&A as % gross profit84.7 %76.3 %8.4 %
Adjusted SG&A as % gross profit (2)
78.3 %76.3 %2.0 %
(1) Retail new vehicle units sold include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.



Group 1 Automotive, Inc.
Same Store Operating Data — U.K.
(Unaudited)
(In millions, except unit data)
Nine Months Ended September 30,
20242023Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$1,092.3 $1,019.1 $73.1 7.2 %$30.6 4.2 %
Used vehicle retail sales930.6 965.6 (35.0)(3.6)%23.7 (6.1)%
Used vehicle wholesale sales76.7 96.9 (20.3)(20.9)%1.9 (22.8)%
Total used1,007.3 1,062.5 (55.2)(5.2)%25.5 (7.6)%
Parts and service sales232.2 209.4 22.8 10.9 %6.1 8.0 %
F&I, net51.7 52.5 (0.8)(1.5)%1.4 (4.2)%
Total revenues$2,383.4 $2,343.5 $39.9 1.7 %$63.5 (1.0)%
Gross profit:
New vehicle retail sales$78.2 $92.8 $(14.6)(15.7)%$2.3 (18.2)%
Used vehicle retail sales44.9 49.4 (4.5)(9.1)%1.1 (11.4)%
Used vehicle wholesale sales(5.9)(2.5)(3.4)(136.9)%(0.1)(134.7)%
Total used39.0 46.9 (7.9)(16.8)%1.1 (19.2)%
Parts and service sales132.8 123.6 9.2 7.4 %3.5 4.6 %
F&I, net51.7 52.5 (0.8)(1.5)%1.4 (4.2)%
Total gross profit$301.7 $315.8 $(14.1)(4.5)%$8.3 (7.1)%
Gross margin:
New vehicle retail sales7.2 %9.1 %(1.9)%
Used vehicle retail sales4.8 %5.1 %(0.3)%
Used vehicle wholesale sales(7.7)%(2.6)%(5.1)%
Total used3.9 %4.4 %(0.5)%
Parts and service sales57.2 %59.0 %(1.8)%
Total gross margin12.7 %13.5 %(0.8)%
Units sold:
Retail new vehicles sold (1)
25,729 25,082 647 2.6 %
Retail used vehicles sold32,985 32,578 407 1.2 %
Wholesale used vehicles sold8,524 9,311 (787)(8.5)%
Total used41,509 41,889 (380)(0.9)%
Average sales price per unit sold:
New vehicle retail (1)
$44,608 $42,149 $2,458 5.8 %$1,251 2.9 %
Used vehicle retail$28,213 $29,639 $(1,426)(4.8)%$718 (7.2)%
Gross profit per unit sold:
New vehicle retail sales$3,039 $3,699 $(660)(17.8)%$91 (20.3)%
Used vehicle retail sales$1,361 $1,516 $(155)(10.2)%$35 (12.5)%
Used vehicle wholesale sales$(692)$(267)$(424)NM$(6)NM
Total used$940 $1,120 $(180)(16.1)%$26 (18.4)%
F&I PRU$880 $910 $(30)(3.3)%$24 (5.9)%
Other:
SG&A expenses$244.4 $226.7 $17.7 7.8 %$6.4 5.0 %
Adjusted SG&A expenses (2)
$235.4 $226.7 $8.7 3.9 %$6.0 1.2 %
SG&A as % gross profit 81.0 %71.8 %9.2 %
Adjusted SG&A as % gross profit (2)
78.0 %71.8 %6.2 %
(1) Retail new vehicle units sold include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
NM — Not Meaningful






Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — Consolidated
(Unaudited)
 (In millions, except per share data)
Three Months Ended September 30, 2024
U.S. GAAPCatastrophic eventsDealership and real estate transactionsSeverance costsAcquisition costsLegal items and other professional feesAccelerated depreciationNon-GAAP adjusted
SG&A expenses$591.6 $(0.7)$0.6 $(0.4)$(14.8)$(0.3)$— $575.9 
Depreciation and amortization expense$29.5 $— $— $— $— $— $(1.3)$28.2 
Income (loss) from operations$231.6 $0.7 $(0.6)$0.4 $14.8 $0.3 $1.3 $248.6 
Income (loss) before income taxes$159.6 $0.7 $(0.6)$0.4 $14.8 $0.3 $1.3 $176.6 
Less: Provision (benefit) for income taxes42.5 0.2 (0.8)0.1 0.7 0.1 0.3 43.1 
Net income from continuing operations
117.1 0.6 0.2 0.3 14.2 0.2 1.0 133.5 
Less: Earnings allocated to participating securities
2.4 — — — 0.3 — — 2.7 
Net income from continuing operations available to diluted common shares
$114.7 $0.5 $0.2 $0.3 $13.9 $0.2 $1.0 $130.8 
Diluted earnings per common share from continuing operations
$8.68 $0.04 $0.01 $0.02 $1.05 $0.02 $0.07 $9.90 
Effective tax rate 26.6 %24.4 %
SG&A as % gross profit (1)
69.4 %67.5 %
Operating margin (2)
4.4 %4.8 %
Pretax margin (3)
3.1 %3.4 %
Same Store SG&A expenses$504.3 $(0.7)$— $(0.4)$(14.8)$(0.3)$— $488.1 
Same Store SG&A as % gross profit (1)
68.4 %66.2 %
Same Store income from operations$208.1 $0.7 $— $0.4 $14.8 $0.3 $1.3 $225.7 
Same Store operating margin (2)
4.6 %5.0 %

U.S. GAAPNon-GAAP adjustmentsNon-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$117.3 $16.4 $133.7 
Less: Earnings allocated to participating securities2.4 0.3 2.7 
Net income available to diluted common shares$114.9 $16.1 $131.0 
Diluted earnings per common share from discontinued operations$0.01 $— $0.01 
Diluted earnings per common share from continuing operations8.68 1.22 9.90 
Diluted earnings per common share$8.69 $1.22 $9.91 
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
(2) Adjusted operating margin excludes the impact of SG&A reconciling items and accelerated depreciation expense.
(3) Adjusted pretax margin excludes the impact of SG&A reconciling items and accelerated depreciation expense.


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — Consolidated
(Unaudited)
 (In millions, except per share data)
Three Months Ended September 30, 2023
U.S. GAAPCatastrophic eventsDealership and real estate transactionsLegal items and other professional feesAsset impairments and accelerated depreciationNon-GAAP adjusted
SG&A expenses$496.7 $(1.5)$7.9 $(4.4)$— $498.8 
Depreciation and amortization expense$23.1 $— $— $— $(0.3)$22.8 
Asset impairments $4.8 $— $— $— $(4.8)$— 
Income (loss) from operations$261.6 $1.5 $(7.9)$4.4 $5.2 $264.7 
Income (loss) before income taxes$220.5 $1.5 $(7.9)$4.4 $5.2 $223.6 
Less: Provision (benefit) for income taxes56.4 0.4 (5.4)1.1 1.3 53.8 
Net income (loss) from continuing operations164.1 1.1 (2.6)3.3 3.9 169.8 
Less: Earnings (loss) allocated to participating securities4.0 — (0.1)0.1 0.1 4.2 
Net income (loss) from continuing operations available to diluted common shares$160.1 $1.1 $(2.5)$3.2 $3.8 $165.6 
Diluted earnings (loss) per common share from continuing operations$11.67 $0.08 $(0.18)$0.23 $0.28 $12.07 
Effective tax rate 25.6 %24.0 %
SG&A as % gross profit (1)
63.2 %63.4 %
Operating margin (2)
5.6 %5.6 %
Pretax margin (3)
4.7 %4.8 %
Same Store SG&A expenses$487.8 $(1.5)$— $(4.4)$— $481.9 
Same Store SG&A as % gross profit (1)
63.8 %63.0 %
Same Store income from operations
$249.6 $1.5 $— $4.4 $5.2 $260.7 
Same Store operating margin (2)
5.5 %5.7 %
U.S. GAAPNon-GAAP adjustmentsNon-GAAP adjusted
Net loss from discontinued operations$(0.2)$— $(0.2)
Less: Loss allocated to participating securities— — — 
Net loss from discontinued operations available to diluted common shares$(0.2)$— $(0.2)
Net income$163.9 $5.7 $169.6 
Less: Earnings allocated to participating securities4.0 0.1 4.2 
Net income available to diluted common shares$159.9 $5.5 $165.4 
Diluted loss per common share from discontinued operations$(0.02)$— $(0.02)
Diluted earnings per common share from continuing operations11.67 0.40 12.07 
Diluted earnings per common share$11.65 $0.40 $12.06 
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
(2) Adjusted operating margin excludes the impact of SG&A reconciling items, accelerated depreciation expense and asset impairment charges.
(3) Adjusted pretax margin excludes the impact of SG&A reconciling items, accelerated depreciation expense and asset impairment charges.


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — Consolidated
(Unaudited)
 (In millions, except per share data)
Nine Months Ended September 30, 2024
U.S. GAAPCatastrophic eventsDealership and real estate transactionsSeverance costsAcquisition costsLegal items and other professional feesAccelerated depreciationNon-GAAP adjusted
SG&A expenses$1,564.9$(9.8)$52.9 $(1.0)$(19.3)$(3.5)$— $1,584.2
Depreciation and amortization expense$81.6$— $— $— $— $— $(5.5)$76.1
Income (loss) from operations$715.4$9.8 $(52.9)$1.0 $19.3 $3.5 $5.5 $701.5
Income (loss) before income taxes$535.8$9.8 $(52.9)$1.0 $19.3 $3.5 $5.5 $522.0
Less: Provision (benefit) for income taxes133.52.4 (14.2)0.2 1.3 0.9 1.3 125.3
Net income (loss) from continuing operations402.47.5 (38.7)0.7 18.0 2.7 4.2 396.7
Less: Earnings (loss) allocated to participating securities8.60.2 (0.8)— 0.4 0.1 0.1 8.5
Net income (loss) from continuing operations available to diluted common shares$393.8$7.3 $(37.9)$0.7 $17.6 $2.6 $4.1 $388.2
Diluted earnings (loss) per common share from continuing operations$29.61$0.55 $(2.85)$0.05 $1.33 $0.20 $0.31 $29.19
Effective tax rate 24.9 % 24.0 %
SG&A as % gross profit (1)
66.3 % 67.1 % 
Operating margin (2)
5.0 % 4.9 % 
Pretax margin (3)
3.7 % 3.6 % 
Same Store SG&A expenses$1,461.2$(9.8)$— $(1.0)$(19.3)$(3.5)$— $1,427.5 
Same Store SG&A as % gross profit (1)
68.4 % 66.8 % 
Same Store income from operations$601.0$9.8 $— $1.0 $19.3 $3.5 $5.5 $640.1 
Same Store operating margin (2)
4.6 % 4.9 % 
U.S. GAAPNon-GAAP adjustmentsNon-GAAP adjusted
Net income from discontinued operations$1.0 $— $1.0 
Less: Earnings allocated to participating securities— — — 
Net income from discontinued operations available to diluted common shares$0.9 $— $0.9 
Net income (loss)$403.3 $(5.7)$397.7 
Less: Earnings (loss) allocated to participating securities8.6 (0.1)8.5 
Net income (loss) available to diluted common shares$394.7 $(5.5)$389.2 
Diluted earnings per common share from discontinued operations$0.07 $— $0.07 
Diluted earnings (loss) per common share from continuing operations29.61 (0.42)29.19 
Diluted earnings (loss) per common share$29.68 $(0.42)$29.26 
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
(2) Adjusted operating margin excludes the impact of SG&A reconciling items and accelerated depreciation expense.
(3) Adjusted pretax margin excludes the impact of SG&A reconciling items and accelerated depreciation expense.


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — Consolidated
(Unaudited)
 (In millions, except per share data)
Nine Months Ended September 30, 2023
U.S. GAAPNon-cash gain on interest rate swapsCatastrophic eventsDealership and real estate transactionsAcquisition costsLegal items and other professional fees Asset impairments and accelerated depreciationNon-GAAP adjusted
SG&A expenses$1,439.4 $— $(1.5)$19.4 $(0.3)$(4.4)$— $1,452.7 
Depreciation and amortization expense$68.6 $— $— $— $— $— $(0.9)$67.8 
Asset impairments$7.7 $— $— $— $— $— $(7.7)$— 
Income (loss) from operations$773.9 $— $1.5 $(19.4)$0.3 $4.4 $8.6 $769.2 
Other interest expense, net$72.1 $4.0 $— $— $— $— $— $76.2 
Income (loss) before income taxes$654.8 $(4.0)$1.5 $(19.4)$0.3 $4.4 $8.6 $646.1 
Less: Provision (benefit) for income taxes161.6 (0.9)0.4 (10.3)0.1 1.1 2.1 154.0 
Net income (loss) from continuing operations493.2 (3.1)1.1 (9.1)0.2 3.3 6.5 492.1 
Less: Earnings (loss) allocated to participating securities12.2 (0.1)— (0.2)— 0.1 0.2 12.2 
Net income (loss) from continuing operations available to diluted common shares$480.9 $(3.0)$1.1 $(8.9)$0.2 $3.2 $6.3 $479.8 
Diluted earnings (loss) per common share from continuing operations$34.81 $(0.22)$0.08 $(0.64)$0.01 $0.23 $0.46 $34.73 
Effective tax rate 24.7 %23.8 %
SG&A as % gross profit (1)
62.9 %63.4 %
Operating margin (2)
5.8 %5.7 %
Pretax margin (3)
4.9 %4.8 %
Same Store SG&A expenses$1,398.6 $— $(1.5)$— $(0.3)$(4.4)$— $1,392.4 
Same Store SG&A as % gross profit (1)
63.3 %63.0 %
Same Store income from operations$737.6 $— $1.5 $— $0.3 $4.4 $8.6 $752.3 
Same Store operating margin (2)
5.7 %5.8 %
U.S. GAAPNon-GAAP adjustmentsNon-GAAP adjusted
Net loss from discontinued operations$(0.3)$— $(0.3)
Less: Loss allocated to participating securities— — — 
Net loss from discontinued operations available to diluted common shares$(0.3)$— $(0.3)
Net income (loss)$492.9 $(1.1)$491.7 
Less: Earnings allocated to participating securities12.2— 12.2
Net income (loss) available to diluted common shares$480.6 $(1.1)$479.5 
Diluted loss per common share from discontinued operations$(0.02)$— $(0.02)
Diluted earnings (loss) per common share from continuing operations34.81 (0.08)34.73 
Diluted earnings (loss) per common share$34.79 $(0.08)$34.71 
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
(2) Adjusted operating margin excludes the impact of SG&A reconciling items, accelerated depreciation expense and asset impairment charges.
(3) Adjusted pretax margin excludes the impact of SG&A reconciling items, accelerated depreciation expense, asset impairment charges and a non-cash gain on interest rate swaps.


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — U.S.
(Unaudited)
(In millions)
Three Months Ended September 30, 2024
U.S. GAAPCatastrophic eventsDealership and real estate transactionsAcquisition costsLegal items and other professional feesNon-GAAP adjusted
SG&A expenses$445.4 $(0.7)$0.6 $(8.7)$(0.3)$436.2 
SG&A as % gross profit (1)
65.7 %64.3 %
Same Store SG&A expenses$417.9 $(0.7)$— $(8.7)$(0.3)$408.1 
Same Store SG&A as % gross profit (1)
65.8 %64.2 %
Three Months Ended September 30, 2023
U.S. GAAPCatastrophic eventsDealership and real estate transactionsLegal items and other professional feesNon-GAAP adjusted
SG&A expenses$417.4 $(1.5)$7.9 $(4.4)$419.5 
SG&A as % gross profit (1)
61.1 %61.4 %
Same Store SG&A expenses$409.8 $(1.5)$— $(4.4)$403.9 
Same Store SG&A as % gross profit (1)
61.9 %61.0 %
Nine Months Ended September 30, 2024
U.S. GAAPCatastrophic eventsDealership and real estate transactionsAcquisition costsLegal items and other professional feesNon-GAAP adjusted
SG&A expenses$1,257.9 $(9.8)$52.9 $(11.3)$(3.5)$1,286.2 
SG&A as % gross profit (1)
63.4 %64.8 %
Same Store SG&A expenses$1,216.7 $(9.8)$— $(11.3)$(3.5)$1,192.1 
Same Store SG&A as % gross profit (1)
66.3 %65.0 %
Nine Months Ended September 30, 2023
U.S. GAAPCatastrophic eventsDealership and real estate transactionsAcquisition costsLegal items and other professional feesNon-GAAP adjusted
SG&A expenses$1,209.8 $(1.5)$18.4 $(0.3)$(4.4)$1,222.1 
SG&A as % gross profit (1)
61.4 %62.0 %
Same Store SG&A expenses$1,171.9 $(1.5)$— $(0.3)$(4.4)$1,165.7 
Same Store SG&A as % gross profit (1)
61.9 %61.6 %
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — U.K.
(Unaudited)
 (In millions)
Three Months Ended September 30, 2024
U.S. GAAPSeverance costsAcquisition costsNon-GAAP Adjusted
SG&A expenses$146.1 $(0.4)$(6.1)$139.6 
SG&A as % gross profit (1)
83.7 %80.0 %
Same Store SG&A expenses$86.4 $(0.4)$(6.1)$79.9 
Same Store SG&A as % gross profit (1)
84.7 %78.3 %
Nine Months Ended September 30, 2024
U.S. GAAPSeverance costsAcquisition costsNon-GAAP Adjusted
SG&A expenses$307.0 $(1.0)$(8.0)$298.0 
SG&A as % gross profit (1)
81.5 %79.1 %
Same Store SG&A expenses$244.4 $(1.0)$(8.0)$235.4 
Same Store SG&A as % gross profit (1)
81.0 %78.0 %
Nine Months Ended September 30, 2023
U.S. GAAPDealership and real estate transactionsNon-GAAP Adjusted
SG&A expenses$229.6 $0.9 $230.5 
SG&A as % gross profit (1)
71.8 %72.1 %
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.

v3.24.3
Cover
Oct. 30, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Oct. 30, 2024
Entity Registrant Name Group 1 Automotive, Inc
Entity Central Index Key 0001031203
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 1-13461
Entity Tax Identification Number 76-0506313
Entity Address, Address Line One 800 Gessner
Entity Address, Address Line Two Suite 500
Entity Address, City or Town Houston
Entity Address, State or Province TX
Entity Address, Postal Zip Code 77024
City Area Code 713
Local Phone Number 647-5700
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common stock, par value $0.01 per share
Trading Symbol GPI
Security Exchange Name NYSE
Entity Emerging Growth Company false
Group 1 Automotive (NYSE:GPI)
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