We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Group 1 (GPI) Earnings & Sales Top Estimates in Q1, Up Y/Y
Read MoreHide Full Article
Group 1 Automotive, Inc. (GPI - Free Report) reported first-quarter 2022 adjusted earnings per share of $10.81, beating the Zacks Consensus Estimate of $9.45. The outperformance can be attributed to the higher-than-anticipated sales from the company’s new-vehicle retail, used-vehicle retail and Finance and Insurance segments. The bottom line increased from the prior-year quarter’s $5.57 per share, marking growth of 94.1%.
The automotive retailer registered net sales of $3,844.4 million, beating the Zacks Consensus Estimate of $3,767.2 million. Also, the top line rose 27.7% from the year-ago quarter’s $3,010 million.
Group 1 Automotive, Inc. Price, Consensus and EPS Surprise
New-vehicle retail sales increased 15.6% from the prior-year quarter’s levels to $1,745.1 million. The figure topped the Zacks Consensus Estimate of $1,718 million. The gross profit from the unit totaled $201.3 million, soaring 110.4% year over year. The reported profit figure also surpassed the consensus mark of $191 million.
Used-vehicle retail sales rose 53.1% from the year-ago period to $1,359.9 million. The sales figure also outpaced the consensus mark of $1,220 million. The gross profit from the unit summed $87.8 million, jumping 50.2% year over year. The reported profit figure, however, missed the consensus mark of $95 million.
Used-vehicle wholesale sales climbed 19.5% from the corresponding quarter last year to $93.5 million but missed the consensus mark of $96 million. The gross profit from used-vehicle wholesale sales fell to $2.8 million from $3.8 million reported in the year-ago period. The reported figure missed the consensus mark of $4.73 million.
In the Parts and Service business, the top line rose 34% from the year-ago quarter’s to $472.9 million. The revenue figure lagged the Zacks Consensus Estimate of $566 million. The gross profit for the segment summed $259.8 million, climbing 31.4% year on year but missing the consensus mark of $304 million.
Revenues from the Finance and Insurance business improved 37.7% from the prior-year period’s levels to $173 million, topping the consensus mark of $140 million. The profit for the segment was break-even.
Segments in Detail
In the reported quarter, revenues in the U.S. business segment climbed 28.6% year over year to $3,091.3 million. The segment’s gross profit surged 49.5% to $620.9 million. During the reported quarter, the retail new-vehicle, retail used-vehicle and wholesale used-vehicle units sold were 29,498, 33,940 and 6,001, respectively.
In the reported period, revenues jumped 37% year over year to $753 million for the U.K. business segment. Also, the gross profit summed $103.8 million, up 57.3% from the year-ago quarter. During the reported quarter, the retail new-vehicle, retail used-vehicle, and wholesale used-vehicle units sold were 7,235, 9,866 and 3,098, respectively.
Financial Position
Group 1 Automotive had cash and cash equivalents of $16.6 million as of Mar 31, 2022, down from $14.9 million in the corresponding period of 2021. Total debt was $1,988.7 million as of Mar 31, 2022, down from the $2,035.7 million recorded on Dec 31, 2021.
During the current quarter, GPI repurchased 638,696 shares at an average price of $180.3 per common share for a total of $115.2 million. As of Mar 31, 2022, the company had 16.7 million common shares outstanding.
BRP Group has an expected earnings growth rate of 9.1% for fiscal 2023. The Zacks Consensus Estimate for current-year earnings has been revised around 7.9% upward in the past 60 days.
BRP Group’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. DOOO pulled off a trailing four-quarter earnings surprise of 68%, on average. The stock has declined 11% over the past year.
Dorman Products has an expected earnings growth rate of 18.8% for the current year. The Zacks Consensus Estimate for current-year earnings has been marginally revised 0.7% upwards in the past 60 days.
Dorman Products’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. DORM pulled off a trailing four-quarter earnings surprise of 3.1%, on average. The stock has lost 2.1% over the past year.
Tesla has an expected earnings growth rate of 66.1% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 18.7% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 41.27%, on average. The stock has gained 31.8% over the past year.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Group 1 (GPI) Earnings & Sales Top Estimates in Q1, Up Y/Y
Group 1 Automotive, Inc. (GPI - Free Report) reported first-quarter 2022 adjusted earnings per share of $10.81, beating the Zacks Consensus Estimate of $9.45. The outperformance can be attributed to the higher-than-anticipated sales from the company’s new-vehicle retail, used-vehicle retail and Finance and Insurance segments. The bottom line increased from the prior-year quarter’s $5.57 per share, marking growth of 94.1%.
The automotive retailer registered net sales of $3,844.4 million, beating the Zacks Consensus Estimate of $3,767.2 million. Also, the top line rose 27.7% from the year-ago quarter’s $3,010 million.
Group 1 Automotive, Inc. Price, Consensus and EPS Surprise
Group 1 Automotive, Inc. price-consensus-eps-surprise-chart | Group 1 Automotive, Inc. Quote
Quarter Highlights
New-vehicle retail sales increased 15.6% from the prior-year quarter’s levels to $1,745.1 million. The figure topped the Zacks Consensus Estimate of $1,718 million. The gross profit from the unit totaled $201.3 million, soaring 110.4% year over year. The reported profit figure also surpassed the consensus mark of $191 million.
Used-vehicle retail sales rose 53.1% from the year-ago period to $1,359.9 million. The sales figure also outpaced the consensus mark of $1,220 million. The gross profit from the unit summed $87.8 million, jumping 50.2% year over year. The reported profit figure, however, missed the consensus mark of $95 million.
Used-vehicle wholesale sales climbed 19.5% from the corresponding quarter last year to $93.5 million but missed the consensus mark of $96 million. The gross profit from used-vehicle wholesale sales fell to $2.8 million from $3.8 million reported in the year-ago period. The reported figure missed the consensus mark of $4.73 million.
In the Parts and Service business, the top line rose 34% from the year-ago quarter’s to $472.9 million. The revenue figure lagged the Zacks Consensus Estimate of $566 million. The gross profit for the segment summed $259.8 million, climbing 31.4% year on year but missing the consensus mark of $304 million.
Revenues from the Finance and Insurance business improved 37.7% from the prior-year period’s levels to $173 million, topping the consensus mark of $140 million. The profit for the segment was break-even.
Segments in Detail
In the reported quarter, revenues in the U.S. business segment climbed 28.6% year over year to $3,091.3 million. The segment’s gross profit surged 49.5% to $620.9 million. During the reported quarter, the retail new-vehicle, retail used-vehicle and wholesale used-vehicle units sold were 29,498, 33,940 and 6,001, respectively.
In the reported period, revenues jumped 37% year over year to $753 million for the U.K. business segment. Also, the gross profit summed $103.8 million, up 57.3% from the year-ago quarter. During the reported quarter, the retail new-vehicle, retail used-vehicle, and wholesale used-vehicle units sold were 7,235, 9,866 and 3,098, respectively.
Financial Position
Group 1 Automotive had cash and cash equivalents of $16.6 million as of Mar 31, 2022, down from $14.9 million in the corresponding period of 2021. Total debt was $1,988.7 million as of Mar 31, 2022, down from the $2,035.7 million recorded on Dec 31, 2021.
During the current quarter, GPI repurchased 638,696 shares at an average price of $180.3 per common share for a total of $115.2 million. As of Mar 31, 2022, the company had 16.7 million common shares outstanding.
Zacks Rank & Other Key Picks
GPI currently carries a Zacks Rank #2 (Buy).
Other top-ranked players in the auto space include BRP Group, Inc. (DOOO - Free Report) , sporting a Zacks Rank #1 (Strong Buy) and Dorman Products (DORM - Free Report) and Tesla Inc. (TSLA - Free Report) , each carrying a Zacks Rank #2, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
BRP Group has an expected earnings growth rate of 9.1% for fiscal 2023. The Zacks Consensus Estimate for current-year earnings has been revised around 7.9% upward in the past 60 days.
BRP Group’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. DOOO pulled off a trailing four-quarter earnings surprise of 68%, on average. The stock has declined 11% over the past year.
Dorman Products has an expected earnings growth rate of 18.8% for the current year. The Zacks Consensus Estimate for current-year earnings has been marginally revised 0.7% upwards in the past 60 days.
Dorman Products’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. DORM pulled off a trailing four-quarter earnings surprise of 3.1%, on average. The stock has lost 2.1% over the past year.
Tesla has an expected earnings growth rate of 66.1% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 18.7% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 41.27%, on average. The stock has gained 31.8% over the past year.