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Compared to Estimates, Group 1 Automotive (GPI) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2023, Group 1 Automotive (GPI - Free Report) reported revenue of $4.13 billion, up 7.4% over the same period last year. EPS came in at $10.93, compared to $10.81 in the year-ago quarter.
The reported revenue represents a surprise of +5.32% over the Zacks Consensus Estimate of $3.92 billion. With the consensus EPS estimate being $9.70, the EPS surprise was +12.68%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Group 1 Automotive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Units sold - Retail used vehicles sold: 45437 versus 42642.54 estimated by three analysts on average.
Units sold - Retail new vehicles sold: 39649 versus the three-analyst average estimate of 38092.35.
Revenues- New vehicle retail sales: $1.96 billion versus the four-analyst average estimate of $1.81 billion. The reported number represents a year-over-year change of +12.1%.
Revenues- Finance, insurance and other, net: $165.10 million versus the four-analyst average estimate of $168.41 million. The reported number represents a year-over-year change of -4.6%.
Revenues- Total Used vehicle: $1.46 billion versus the four-analyst average estimate of $1.34 billion. The reported number represents a year-over-year change of +0.5%.
Revenues- Used vehicle wholesale sales: $112 million compared to the $90.07 million average estimate based on four analysts. The reported number represents a change of +19.8% year over year.
Revenues- Parts and service sales: $548.30 million versus $509.27 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.9% change.
Revenues- Used vehicle retail sales: $1.35 billion versus $1.25 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.8% change.
Gross profit /(loss)- Total Used vehicle: $78.80 million versus $55.13 million estimated by four analysts on average.
Gross profit /(loss)- New vehicle retail sales: $186.70 million compared to the $169.17 million average estimate based on four analysts.
Gross profit /(loss)- F&I, net: $165.10 million compared to the $168.41 million average estimate based on four analysts.
Gross profit /(loss)- Parts and service: $297.30 million versus the four-analyst average estimate of $273.84 million.
Shares of Group 1 Automotive have returned +3.4% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Group 1 Automotive (GPI) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2023, Group 1 Automotive (GPI - Free Report) reported revenue of $4.13 billion, up 7.4% over the same period last year. EPS came in at $10.93, compared to $10.81 in the year-ago quarter.
The reported revenue represents a surprise of +5.32% over the Zacks Consensus Estimate of $3.92 billion. With the consensus EPS estimate being $9.70, the EPS surprise was +12.68%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Group 1 Automotive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Units sold - Retail used vehicles sold: 45437 versus 42642.54 estimated by three analysts on average.
- Units sold - Retail new vehicles sold: 39649 versus the three-analyst average estimate of 38092.35.
- Revenues- New vehicle retail sales: $1.96 billion versus the four-analyst average estimate of $1.81 billion. The reported number represents a year-over-year change of +12.1%.
- Revenues- Finance, insurance and other, net: $165.10 million versus the four-analyst average estimate of $168.41 million. The reported number represents a year-over-year change of -4.6%.
- Revenues- Total Used vehicle: $1.46 billion versus the four-analyst average estimate of $1.34 billion. The reported number represents a year-over-year change of +0.5%.
- Revenues- Used vehicle wholesale sales: $112 million compared to the $90.07 million average estimate based on four analysts. The reported number represents a change of +19.8% year over year.
- Revenues- Parts and service sales: $548.30 million versus $509.27 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.9% change.
- Revenues- Used vehicle retail sales: $1.35 billion versus $1.25 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.8% change.
- Gross profit /(loss)- Total Used vehicle: $78.80 million versus $55.13 million estimated by four analysts on average.
- Gross profit /(loss)- New vehicle retail sales: $186.70 million compared to the $169.17 million average estimate based on four analysts.
- Gross profit /(loss)- F&I, net: $165.10 million compared to the $168.41 million average estimate based on four analysts.
- Gross profit /(loss)- Parts and service: $297.30 million versus the four-analyst average estimate of $273.84 million.
View all Key Company Metrics for Group 1 Automotive here>>>Shares of Group 1 Automotive have returned +3.4% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.