PR Newswire
-
Current quarter diluted earnings per common share from continuing operations of $8.62 and current quarter adjusted diluted earnings per common share from continuing operations (a non-GAAP measure) of $9.61
-
U.S. current quarter SG&A as a % of gross profit of 67.5%; U.S. current quarter adjusted SG&A as a % of gross profit (a non-GAAP measure) improved sequentially 400+ basis points to 66.4%
-
Separately announces agreement to acquire 10 dealerships from Hennessy Automobile Companies and recently completed the purchase of two additional dealerships in the fast-growing Atlanta market, further strengthening our proven cluster strategy
HOUSTON, July 30, 2026 /PRNewswire/ — Group 1 Automotive, Inc. (NYSE: GPI) (“Group 1” or the “Company”), a Fortune 250 automotive retailer with 251 dealerships located in the U.S. and U.K., today reported financial results for the second quarter of 2026 (“current quarter”).
“While our second quarter results softened due to consumer affordability issues, we continued to execute against the strategic initiatives that will strengthen Group 1 over the long term,” said Daryl Kenningham, Group 1’s President and Chief Executive Officer. “During the quarter in the U.S., we successfully completed our previously announced $50 million annualized expense reduction initiative, exceeding our targets. We also continued to invest in our future through strategic dealership acquisitions and dispositions, advanced our corporate rebranding to more than 60% completion, and expanded our virtual F&I platform to more than 40% of our stores. We remain focused on disciplined execution that will continue to drive sustainable value for our shareholders.”
“To that end, earlier today we announced our intent to acquire Hennessy Automobile Companies which, along with two additional dealership acquisitions, will boost our presence to 15 dealerships in Atlanta. The purchase of these high-volume dealerships in a tremendous growth market is the ideal execution of our cluster strategy and bolsters Group 1’s position for the long term.”
Reconciliations for financial results, non-GAAP metrics and diluted earnings per common sha
re between continuing and discontinued operations are included in the accompanying financial tables.
Current Quarter Results Overview
- Current quarter total revenues were $5.4 billion, compared to $5.7 billion for the second quarter of 2025 (“prior-year quarter”).
- Current quarter net income from continuing operations was $103.0 million, compared to $139.8 million for the prior-year quarter.
- Current quarter adjusted net income from continuing operations (a non-GAAP measure) was $114.9 million, compared to $149.6 million for the prior-year quarter.
- Current quarter diluted earnings per common share from continuing operations was $8.62, compared to $10.77 for the prior-year quarter.
- Current quarter adjusted diluted earnings per common share from continuing operations (a non-GAAP measure) was $9.61, compared to $11.52 for the prior-year quarter.
|
Key Performance Metrics (year-over-year comparable period basis) |
|
(a non-GAAP |
||
|
Reported: |
|
|
|
|
|
Total revenues |
$5.4B |
(5.6) % |
$5.2B |
(3.3) % |
|
Total gross profit (“GP”) |
$860.6M |
(8.0) % |
$835.9M |
(6.1) % |
|
NV units sold |
53,335 |
(4.4) % |
51,840 |
(2.8) % |
|
NV GP per retail unit (“PRU”) |
$3,254 |
(8.5) % |
$3,233 |
(9.0) % |
|
Used vehicle (“UV”) retail units sold |
53,469 |
(11.2) % |
51,907 |
(9.8) % |
|
UV retail GP PRU |
$1,532 |
(4.3) % |
$1,534 |
(5.3) % |
|
Parts & service (“P&S”) GP |
$389.0M |
(3.4) % |
$377.2M |
(0.2) % |
|
P&S Gross Margin (“GM”) |
56.2 % |
+0.1 % |
56.0 % |
(1.3) % |
|
Finance and Insurance (“F&I”) revenues |
$216.8M |
(8.8) % |
$211.7M |
(7.5) % |
|
F&I GP PRU |
$2,030 |
(1.0) % |
$2,041 |
(1.2) % |
|
Selling, General and Administrative (“SG&A”) expenses as a % of GP |
72.4 % |
+341 bps |
71.0 % |
+310 bps |
|
Adjusted SG&A expenses (a non-GAAP measure) as a % of GP |
70.8 % |
+214 bps |
70.1 % |
+253 bps |
Corporate Development
Today, in a separate press release, the Company announced that it has signed a definitive agreement to acquire the 10 dealerships of the Hennessy Automobile Companies, located in the Atlanta market. The Company expects the transaction to close by year-end 2026, subject to regulatory and OEM approvals, as well as other customary closing conditions, and generate approximately $1.7 billion in annual revenues. For additional information, see the Company’s separate press release and Current Report on Form 8-K filed in connection with this transaction.
During the current quarter, the Company acquired four dealerships in the U.S., two of which were acquired as part of a back-to-back transaction with the intention of reselling them concurrently with or shortly after acquisition. These two dealerships were classified as assets held for sale as of the end of the current quarter. The Company completed the disposition of these dealerships in July 2026. The two retained dealerships, Stone Mountain Toyota and Stone Mountain Honda, also located in the Atlanta market, are expected to generate approximately $205 million in annual revenues.
Year to date, the Company has acquired and successfully integrated dealership operations with total expected annual revenues of approximately $340 million. The Company remains focused on efficiently and effectively integrating acquisitions into existing operations to create value for shareholders.
During the current quarter, the Company disposed of four Jaguar/Land Rover dealerships in the U.K. These dealerships generated approximately $330 million in annual revenues, bringing year-to-date total annualized revenues associated with dealership dispositions for the Company to $900 million.
As previously announced, the Company entered into an agreement with Chinese automaker Geely to expand its U.K. network through three new locations. The first Geely franchise opened in June 2026, with the remaining two locations expected to open later in the year.
Share Repurchases
The Company did not repurchase any shares of its common stock during the current quarter. During the current year, the Company repurchased 205,190 shares of common stock, representing approximately 1.7% of shares outstanding as of January 1, 2026, at an average price of $353.08 per share, for a total cost of $72.4 million, excluding excise taxes of $0.5 million.
As of June 30, 2026, the Company had 11,925,913 shares of common stock and unvested restricted stock awards outstanding in the aggregate, and $306.3 million remaining under its Board authorized 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, pursuant to Rule 10b5-1 trading plans or in privately negotiated transactions, and subject to Board approval and covenant restrictions.
Second Quarter Earnings Conference Call Details
Daryl Kenningham, Group 1’s President and Chief Executive Officer, and the Company’s senior management team will host a conference call today at 10:00 a.m. ET to discuss the second quarter 2026 financial results and the Company’s announced acquisition of the Hennessy Automobile Companies. The conference call will be simulcast live on the Internet at http://www.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: |
|
|
International: |
|
|
Passcode: |
|
A telephonic replay will be available following the call through August 6, 2026, by dialing:
|
Domestic: |
|
|
International: |
|
|
Replay Code: |
|
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates
251
automotive dealerships,
312
franchises, and
32
collision centers in the United States and the United Kingdom that offer
37
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 financial and other benefits of anticipated or recently completed acquisitions or dispositions, including the pending acquisition of Hennessy Automobile Companies (the “Hennessy Acquisition”), the timing and financing thereof and our ability to achieve the intended operational, financial and strategic benefits therefrom. 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 impacts of sustained levels of inflation, including reduced affordability of automobiles for consumers, (c) developments in U.S. and global trade policy, including the imposition by the U.S. of significant tariffs on the import of automobiles and certain materials used in our parts and services business and the resulting consequences (including, but not limited to, retaliatory tariffs by non-U.S. nations, supply chain disruptions, vehicle and part cost increases and demand decreases, and potential recessions in the U.S. and U.K.) and the passage of the “One Big Beautiful Bill,” including the associated impact on tax deductions in the domestic car industry and the elimination of certain clean energy tax credits, which could impact incentives for electric vehicle production and sales, (d) the level of manufacturer incentives, (e) our ability to comply with extensive laws, regulations and policies applicable to our operations, including BEV mandates in the U.K., and their impact on new vehicle demand, (f) our ability to obtain an inventory of desirable new and used vehicles (including as a result of changes in the international trade environment), (g) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (h) our cost of financing and the availability of credit for consumers, (i) our ability to complete acquisitions and dispositions, including the pending Hennessy Acquisition, on a timely basis, if at all and the risks associated therewith, (j) our ability to successfully integrate recent and future acquisitions, including the Hennessy Acquisition, and realize the expected benefits from consummated acquisitions, (k) foreign exchange controls and currency fluctuations, (l) the armed conflicts in Ukraine and the Middle East, (m) our ability to maintain sufficient liquidity to operate, and (n) a material failure in or breach of our vendors’ information technology systems and other cybersecurity incidents. 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 and snow storms. 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, adjusted operating margin, adjusted pretax margin 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:
David Helderman
Senior Manager, Investor Relations
Group 1 Automotive, Inc.
[email protected]
Media contacts:
Pete DeLongchamps
Senior Vice President, Manufacturer Relations, Financial Services and Corporate Development
Group 1 Automotive, Inc.
[email protected]
Kimberly Barta
Head of Marketing and Communications
Group 1 Automotive, Inc.
[email protected]
or
Jude Gorman / Clayton Erwin
Collected Strategies
[email protected]
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
|
|
|
|||||
|
|
||||||||
|
New vehicle retail sales |
$ 2,606.1 |
$ 2,735.5 |
$ (129.3) |
(4.7) % |
||||
|
Used vehicle retail sales |
1,718.3 |
1,848.2 |
(129.9) |
(7.0) % |
||||
|
Used vehicle wholesale sales |
151.5 |
163.8 |
(12.3) |
(7.5) % |
||||
|
Parts and service sales |
692.4 |
718.4 |
(26.0) |
(3.6) % |
||||
|
Finance, insurance and other, net |
216.8 |
237.8 |
(21.0) |
(8.8) % |
||||
|
Total revenues |
5,385.1 |
5,703.5 |
(318.5) |
(5.6) % |
||||
|
|
||||||||
|
New vehicle retail sales |
2,432.6 |
2,537.1 |
(104.6) |
(4.1) % |
||||
|
Used vehicle retail sales |
1,636.4 |
1,751.8 |
(115.4) |
(6.6) % |
||||
|
Used vehicle wholesale sales |
152.2 |
163.3 |
(11.0) |
(6.8) % |
||||
|
Parts and service sales |
303.4 |
315.6 |
(12.2) |
(3.9) % |
||||
|
Total cost of sales |
4,524.5 |
4,767.8 |
(243.2) |
(5.1) % |
||||
|
|
860.6 |
935.8 |
(75.2) |
(8.0) % |
||||
|
Selling, general and administrative expenses |
623.5 |
646.1 |
(22.6) |
(3.5) % |
||||
|
Depreciation and amortization expense |
30.9 |
28.7 |
2.2 |
7.6 % |
||||
|
Asset impairments |
1.0 |
0.4 |
0.6 |
184.8 % |
||||
|
Restructuring charges |
2.1 |
7.6 |
(5.5) |
(72.3) % |
||||
|
|
203.1 |
253.0 |
(49.9) |
(19.7) % |
||||
|
Floorplan interest expense |
22.0 |
26.4 |
(4.4) |
(16.7) % |
||||
|
Other interest expense, net |
46.7 |
42.7 |
4.0 |
9.3 % |
||||
|
|
134.4 |
183.9 |
(49.5) |
(26.9) % |
||||
|
Provision for income taxes |
31.4 |
44.0 |
(12.6) |
(28.7) % |
||||
|
Net income from continuing operations |
103.0 |
139.8 |
(36.9) |
(26.4) % |
||||
|
Net income from discontinued operations |
0.3 |
0.7 |
(0.4) |
(51.2) % |
||||
|
|
$ 103.3 |
$ 140.5 |
$ (37.2) |
(26.5) % |
||||
|
Less: Earnings allocated to participating securities |
1.0 |
1.6 |
(0.6) |
(38.4) % |
||||
|
Net income available to diluted common shares |
$ 102.3 |
$ 139.0 |
$ (36.6) |
(26.3) % |
||||
|
Diluted earnings per share from continuing operations |
$ 8.62 |
$ 10.77 |
$ (2.15) |
(20.0) % |
||||
|
Diluted earnings per share from discontinued operations |
$ 0.03 |
$ 0.05 |
$ (0.02) |
(47.0) % |
||||
|
|
$ 8.64 |
$ 10.82 |
$ (2.18) |
(20.1) % |
||||
|
Weighted average dilutive common shares outstanding |
11.8 |
12.8 |
(1.0) |
(7.8) % |
||||
|
Weighted average participating securities |
0.1 |
0.1 |
— |
(23.0) % |
||||
|
Total weighted average shares |
12.0 |
13.0 |
(1.0) |
(8.0) % |
||||
|
Effective tax rate on continuing operations |
23.4 % |
24.0 % |
(0.6) % |
|||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
|
|
|
|||||
|
|
||||||||
|
New vehicle retail sales |
$ 5,168.5 |
$ 5,415.4 |
$ (246.9) |
(4.6) % |
||||
|
Used vehicle retail sales |
3,493.2 |
3,603.6 |
(110.4) |
(3.1) % |
||||
|
Used vehicle wholesale sales |
300.9 |
315.4 |
(14.4) |
(4.6) % |
||||
|
Parts and service sales |
1,396.8 |
1,410.4 |
(13.6) |
(1.0) % |
||||
|
Finance, insurance and other, net |
432.7 |
464.0 |
(31.3) |
(6.7) % |
||||
|
Total revenues |
10,792.2 |
11,208.8 |
(416.7) |
(3.7) % |
||||
|
|
||||||||
|
New vehicle retail sales |
4,822.2 |
5,027.4 |
(205.2) |
(4.1) % |
||||
|
Used vehicle retail sales |
3,323.6 |
3,413.7 |
(90.1) |
(2.6) % |
||||
|
Used vehicle wholesale sales |
300.1 |
313.3 |
(13.2) |
(4.2) % |
||||
|
Parts and service sales |
607.8 |
626.7 |
(18.9) |
(3.0) % |
||||
|
Total cost of sales |
9,053.7 |
9,381.1 |
(327.4) |
(3.5) % |
||||
|
|
1,738.4 |
1,827.7 |
(89.3) |
(4.9) % |
||||
|
Selling, general and administrative expenses |
1,224.1 |
1,263.4 |
(39.3) |
(3.1) % |
||||
|
Depreciation and amortization expense |
62.1 |
58.0 |
4.1 |
7.0 % |
||||
|
Asset impairments |
3.5 |
0.8 |
2.8 |
358.1 % |
||||
|
Restructuring charges |
3.1 |
18.7 |
(15.6) |
(83.3) % |
||||
|
|
445.7 |
486.9 |
(41.2) |
(8.5) % |
||||
|
Floorplan interest expense |
45.3 |
53.3 |
(8.0) |
(15.0) % |
||||
|
Other interest expense, net |
95.5 |
82.5 |
13.0 |
15.8 % |
||||
|
Other income |
— |
(0.2) |
0.2 |
(99.9) % |
||||
|
|
304.9 |
351.4 |
(46.5) |
(13.2) % |
||||
|
Provision for income taxes |
72.0 |
83.8 |
(11.8) |
(14.1) % |
||||
|
Net income from continuing operations |
232.9 |
267.6 |
(34.7) |
(13.0) % |
||||
|
Net income from discontinued operations |
0.7 |
1.0 |
(0.4) |
(35.9) % |
||||
|
|
$ 233.5 |
$ 268.6 |
$ (35.1) |
(13.1) % |
||||
|
Less: Earnings allocated to participating securities |
2.3 |
3.2 |
(0.9) |
(28.0) % |
||||
|
Net income available to diluted common shares |
$ 231.2 |
$ 265.4 |
$ (34.2) |
(12.9) % |
||||
|
Diluted earnings per share from continuing operations |
$ 19.44 |
$ 20.40 |
$ (0.96) |
(4.7) % |
||||
|
Diluted earnings per share from discontinued operations |
$ 0.06 |
$ 0.08 |
$ (0.02) |
(29.8) % |
||||
|
|
$ 19.50 |
$ 20.48 |
$ (0.98) |
(4.8) % |
||||
|
Weighted average dilutive common shares outstanding |
11.9 |
13.0 |
(1.1) |
(8.5) % |
||||
|
Weighted average participating securities |
0.1 |
0.2 |
— |
(24.5) % |
||||
|
Total weighted average shares |
12.0 |
13.1 |
(1.1) |
(8.7) % |
||||
|
Effective tax rate on continuing operations |
23.6 % |
23.8 % |
(0.2) % |
|||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
|
|
|
|||||
|
|
||||||||
|
|
||||||||
|
Cash and cash equivalents |
$ 164.5 |
$ 32.5 |
$ 132.1 |
406.5 % |
||||
|
Inventories, net |
$ 2,759.6 |
$ 2,741.3 |
$ 18.3 |
0.7 % |
||||
|
Floorplan notes payable, net (1) |
$ 2,181.2 |
$ 1,915.8 |
$ 265.4 |
13.9 % |
||||
|
Total debt |
$ 3,363.0 |
$ 3,699.5 |
$ (336.5) |
(9.1) % |
||||
|
Total equity |
$ 2,952.2 |
$ 2,789.1 |
$ 163.0 |
5.8 % |
||||
|
|
||||||||
|
|
|
|||||||
|
|
|
|
|
|||||
|
|
||||||||
|
United States |
72.3 % |
73.6 % |
69.2 % |
70.5 % |
||||
|
United Kingdom |
27.7 % |
26.4 % |
30.8 % |
29.5 % |
||||
|
|
||||||||
|
Toyota/Lexus |
27.5 % |
26.7 % |
26.4 % |
24.9 % |
||||
|
Volkswagen/Audi/Porsche/SEAT/SKODA |
14.7 % |
14.3 % |
15.2 % |
15.8 % |
||||
|
BMW/MINI |
13.4 % |
11.7 % |
13.2 % |
12.0 % |
||||
|
Honda/Acura |
9.1 % |
8.9 % |
8.5 % |
8.5 % |
||||
|
Mercedes-Benz/Sprinter/smart |
7.1 % |
7.6 % |
8.3 % |
8.5 % |
||||
|
Chevrolet/GMC/Buick |
7.6 % |
8.8 % |
7.3 % |
8.3 % |
||||
|
Ford/Lincoln |
6.9 % |
7.1 % |
6.8 % |
6.8 % |
||||
|
Hyundai/Kia/Genesis |
5.9 % |
5.6 % |
5.7 % |
5.4 % |
||||
|
Jaguar/Land Rover |
1.8 % |
2.2 % |
2.7 % |
2.6 % |
||||
|
Nissan |
1.9 % |
2.1 % |
1.8 % |
2.0 % |
||||
|
Subaru |
1.9 % |
2.2 % |
1.7 % |
2.5 % |
||||
|
Chrysler/Dodge/Jeep/RAM/Citroën/Leapmotor |
1.0 % |
1.6 % |
1.2 % |
1.7 % |
||||
|
Mazda |
1.2 % |
1.1 % |
1.0 % |
1.1 % |
||||
|
Other |
0.1 % |
0.1 % |
0.1 % |
0.1 % |
||||
|
100.0 % |
100.0 % |
100.0 % |
100.0 % |
|||||
|
|
|
|
||||
|
|
||||||
|
|
||||||
|
New vehicle inventory |
49 |
46 |
43 |
|||
|
Used vehicle inventory |
36 |
36 |
35 |
|||
|
|
||||||
|
New vehicle inventory |
54 |
44 |
48 |
|||
|
Used vehicle inventory |
32 |
29 |
31 |
|||
|
|
||||||
|
New vehicle inventory |
36 |
52 |
32 |
|||
|
Used vehicle inventory |
43 |
55 |
43 |
|||
|
|
||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
|
|
|
|
|
|||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 2,606.1 |
$ 2,735.5 |
$ (129.3) |
(4.7) % |
$ 2.0 |
(4.8) % |
||||||
|
Used vehicle retail sales |
1,718.3 |
1,848.2 |
(129.9) |
(7.0) % |
3.1 |
(7.2) % |
||||||
|
Used vehicle wholesale sales |
151.5 |
163.8 |
(12.3) |
(7.5) % |
0.3 |
(7.7) % |
||||||
|
Total used |
1,869.8 |
2,012.0 |
(142.2) |
(7.1) % |
3.4 |
(7.2) % |
||||||
|
Parts and service sales |
692.4 |
718.4 |
(26.0) |
(3.6) % |
0.7 |
(3.7) % |
||||||
|
F&I, net |
216.8 |
237.8 |
(21.0) |
(8.8) % |
0.2 |
(8.9) % |
||||||
|
Total revenues |
$ 5,385.1 |
$ 5,703.5 |
$ (318.5) |
(5.6) % |
$ 6.2 |
(5.7) % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 173.6 |
$ 198.4 |
$ (24.8) |
(12.5) % |
$ — |
(12.5) % |
||||||
|
Used vehicle retail sales |
81.9 |
96.4 |
(14.5) |
(15.0) % |
0.1 |
(15.2) % |
||||||
|
Used vehicle wholesale sales |
(0.7) |
0.5 |
(1.2) |
NM |
— |
NM |
||||||
|
Total used |
81.2 |
96.9 |
(15.7) |
(16.2) % |
0.1 |
(16.4) % |
||||||
|
Parts and service sales |
389.0 |
402.8 |
(13.8) |
(3.4) % |
0.3 |
(3.5) % |
||||||
|
F&I, net |
216.8 |
237.8 |
(21.0) |
(8.8) % |
0.2 |
(8.9) % |
||||||
|
Total gross profit |
$ 860.6 |
$ 935.8 |
$ (75.2) |
(8.0) % |
$ 0.7 |
(8.1) % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
6.7 % |
7.3 % |
(0.6) % |
|||||||||
|
Used vehicle retail sales |
4.8 % |
5.2 % |
(0.4) % |
|||||||||
|
Used vehicle wholesale sales |
(0.5) % |
0.3 % |
(0.8) % |
|||||||||
|
Total used |
4.3 % |
4.8 % |
(0.5) % |
|||||||||
|
Parts and service sales |
56.2 % |
56.1 % |
0.1 % |
|||||||||
|
Total gross margin |
16.0 % |
16.4 % |
(0.4) % |
|||||||||
|
|
||||||||||||
|
Retail new vehicles sold (1) |
53,335 |
55,763 |
(2,428) |
(4.4) % |
||||||||
|
Retail used vehicles sold (1) |
53,469 |
60,240 |
(6,771) |
(11.2) % |
||||||||
|
Wholesale used vehicles sold |
15,315 |
17,030 |
(1,715) |
(10.1) % |
||||||||
|
Total used |
68,784 |
77,270 |
(8,486) |
(11.0) % |
||||||||
|
|
||||||||||||
|
New vehicle retail (1) |
$ 51,726 |
$ 50,557 |
$ 1,169 |
2.3 % |
$ 39 |
2.2 % |
||||||
|
Used vehicle retail (1) |
$ 32,195 |
$ 30,713 |
$ 1,482 |
4.8 % |
$ 57 |
4.6 % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 3,254 |
$ 3,557 |
$ (303) |
(8.5) % |
$ 1 |
(8.5) % |
||||||
|
Used vehicle retail sales |
$ 1,532 |
$ 1,600 |
$ (69) |
(4.3) % |
$ 3 |
(4.5) % |
||||||
|
Used vehicle wholesale sales |
$ (47) |
$ 29 |
$ (76) |
NM |
$ (2) |
NM |
||||||
|
Total used |
$ 1,180 |
$ 1,254 |
$ (74) |
(5.9) % |
$ 2 |
(6.0) % |
||||||
|
F&I PRU |
$ 2,030 |
$ 2,050 |
$ (20) |
(1.0) % |
$ 2 |
(1.0) % |
||||||
|
|
||||||||||||
|
SG&A expenses |
$ 623.5 |
$ 646.1 |
$ (22.6) |
(3.5) % |
$ 0.8 |
(3.6) % |
||||||
|
Adjusted SG&A expenses (2) |
$ 609.3 |
$ 642.5 |
$ (33.2) |
(5.2) % |
$ 0.8 |
(5.3) % |
||||||
|
SG&A as % gross profit |
72.4 % |
69.0 % |
3.4 % |
|||||||||
|
Adjusted SG&A as % gross profit (2) |
70.8 % |
68.7 % |
2.1 % |
|||||||||
|
Operating margin % |
3.8 % |
4.4 % |
(0.7) % |
|||||||||
|
Adjusted operating margin % (2) |
4.1 % |
4.7 % |
(0.5) % |
|||||||||
|
Pretax margin % |
2.5 % |
3.2 % |
(0.7) % |
|||||||||
|
Adjusted pretax margin % (2) |
2.8 % |
3.4 % |
(0.6) % |
|||||||||
|
|
||||||||||||
|
Floorplan interest expense |
$ 22.0 |
$ 26.4 |
$ (4.4) |
(16.7) % |
$ — |
(16.8) % |
||||||
|
Less: Floorplan assistance (3) |
21.9 |
22.6 |
(0.7) |
(3.0) % |
— |
(3.0) % |
||||||
|
Net floorplan expense |
$ 0.1 |
$ 3.8 |
$ (3.7) |
$ — |
||||||||
|
|
|
|
|
|
|
NM — Not Meaningful |
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
|
|
|
|
|
|||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 5,168.5 |
$ 5,415.4 |
$ (246.9) |
(4.6) % |
$ 41.3 |
(5.3) % |
||||||
|
Used vehicle retail sales |
3,493.2 |
3,603.6 |
(110.4) |
(3.1) % |
44.2 |
(4.3) % |
||||||
|
Used vehicle wholesale sales |
300.9 |
315.4 |
(14.4) |
(4.6) % |
3.7 |
(5.7) % |
||||||
|
Total used |
3,794.2 |
3,919.0 |
(124.8) |
(3.2) % |
47.8 |
(4.4) % |
||||||
|
Parts and service sales |
1,396.8 |
1,410.4 |
(13.6) |
(1.0) % |
12.1 |
(1.8) % |
||||||
|
F&I, net |
432.7 |
464.0 |
(31.3) |
(6.7) % |
2.8 |
(7.3) % |
||||||
|
Total revenues |
$ 10,792.2 |
$ 11,208.8 |
$ (416.7) |
(3.7) % |
$ 103.9 |
(4.6) % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 346.3 |
$ 388.0 |
$ (41.7) |
(10.8) % |
$ 3.2 |
(11.6) % |
||||||
|
Used vehicle retail sales |
169.6 |
189.9 |
(20.3) |
(10.7) % |
2.0 |
(11.7) % |
||||||
|
Used vehicle wholesale sales |
0.8 |
2.0 |
(1.2) |
(60.4) % |
(0.1) |
(53.7) % |
||||||
|
Total used |
170.5 |
192.0 |
(21.5) |
(11.2) % |
1.8 |
(12.2) % |
||||||
|
Parts and service sales |
789.1 |
783.8 |
5.3 |
0.7 % |
6.8 |
(0.2) % |
||||||
|
F&I, net |
432.7 |
464.0 |
(31.3) |
(6.7) % |
2.8 |
(7.3) % |
||||||
|
Total gross profit |
$ 1,738.4 |
$ 1,827.7 |
$ (89.3) |
(4.9) % |
$ 14.6 |
(5.7) % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
6.7 % |
7.2 % |
(0.5) % |
|||||||||
|
Used vehicle retail sales |
4.9 % |
5.3 % |
(0.4) % |
|||||||||
|
Used vehicle wholesale sales |
0.3 % |
0.6 % |
(0.4) % |
|||||||||
|
Total used |
4.5 % |
4.9 % |
(0.4) % |
|||||||||
|
Parts and service sales |
56.5 % |
55.6 % |
0.9 % |
|||||||||
|
Total gross margin |
16.1 % |
16.3 % |
(0.2) % |
|||||||||
|
|
||||||||||||
|
Retail new vehicles sold (1) |
105,733 |
111,862 |
(6,129) |
(5.5) % |
||||||||
|
Retail used vehicles sold (1) |
110,454 |
119,858 |
(9,404) |
(7.8) % |
||||||||
|
Wholesale used vehicles sold |
30,717 |
33,384 |
(2,667) |
(8.0) % |
||||||||
|
Total used |
141,171 |
153,242 |
(12,071) |
(7.9) % |
||||||||
|
|
||||||||||||
|
New vehicle retail (1) |
$ 52,065 |
$ 50,210 |
$ 1,855 |
3.7 % |
$ 411 |
2.9 % |
||||||
|
Used vehicle retail (1) |
$ 31,684 |
$ 30,084 |
$ 1,600 |
5.3 % |
$ 401 |
4.0 % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 3,275 |
$ 3,469 |
$ (194) |
(5.6) % |
$ 30 |
(6.5) % |
||||||
|
Used vehicle retail sales |
$ 1,536 |
$ 1,585 |
$ (49) |
(3.1) % |
$ 18 |
(4.2) % |
||||||
|
Used vehicle wholesale sales |
$ 26 |
$ 61 |
$ (35) |
(57.0) % |
$ (4) |
(49.6) % |
||||||
|
Total used |
$ 1,207 |
$ 1,253 |
$ (45) |
(3.6) % |
$ 13 |
(4.7) % |
||||||
|
F&I PRU |
$ 2,001 |
$ 2,002 |
$ (1) |
— % |
$ 13 |
(0.7) % |
||||||
|
Adjusted F&I PRU (2) |
$ 2,033 |
$ 2,002 |
$ 31 |
1.5 % |
$ 13 |
0.9 % |
||||||
|
|
||||||||||||
|
SG&A expenses |
$ 1,224.1 |
$ 1,263.4 |
$ (39.3) |
(3.1) % |
$ 12.8 |
(4.1) % |
||||||
|
Adjusted SG&A expenses (2) |
$ 1,252.7 |
$ 1,262.8 |
$ (10.1) |
(0.8) % |
$ 12.6 |
(1.8) % |
||||||
|
SG&A as % gross profit |
70.4 % |
69.1 % |
1.3 % |
|||||||||
|
Adjusted SG&A as % gross profit (2) |
71.8 % |
69.1 % |
2.7 % |
|||||||||
|
Operating margin % |
4.1 % |
4.3 % |
(0.2) % |
|||||||||
|
Adjusted operating margin % (2) |
4.0 % |
4.5 % |
(0.5) % |
|||||||||
|
Pretax margin % |
2.8 % |
3.1 % |
(0.3) % |
|||||||||
|
Adjusted pretax margin % (2) |
2.7 % |
3.3 % |
(0.6) % |
|||||||||
|
|
||||||||||||
|
Floorplan interest expense |
$ 45.3 |
$ 53.3 |
$ (8.0) |
(15.0) % |
$ 0.5 |
(16.0) % |
||||||
|
Less: Floorplan assistance (3) |
42.0 |
43.0 |
(1.0) |
(2.4) % |
— |
(2.4) % |
||||||
|
Net floorplan expense |
$ 3.3 |
$ 10.3 |
$ (7.0) |
$ 0.5 |
||||||||
|
|
|
|
|
|
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
|
|
|
|||||
|
|
||||||||
|
New vehicle retail sales |
$ 2,023.0 |
$ 2,132.9 |
$ (109.9) |
(5.2) % |
||||
|
Used vehicle retail sales |
1,112.8 |
1,203.2 |
(90.4) |
(7.5) % |
||||
|
Used vehicle wholesale sales |
87.7 |
86.5 |
1.2 |
1.4 % |
||||
|
Total used |
1,200.5 |
1,289.7 |
(89.2) |
(6.9) % |
||||
|
Parts and service sales |
531.0 |
555.5 |
(24.5) |
(4.4) % |
||||
|
F&I, net |
178.8 |
199.0 |
(20.2) |
(10.1) % |
||||
|
Total revenues |
$ 3,933.4 |
$ 4,177.2 |
$ (243.8) |
(5.8) % |
||||
|
|
||||||||
|
New vehicle retail sales |
$ 125.7 |
$ 150.5 |
$ (24.8) |
(16.5) % |
||||
|
Used vehicle retail sales |
56.3 |
68.6 |
(12.4) |
(18.0) % |
||||
|
Used vehicle wholesale sales |
2.5 |
2.5 |
— |
(0.9) % |
||||
|
Total used |
58.7 |
71.1 |
(12.4) |
(17.4) % |
||||
|
Parts and service sales |
295.2 |
308.1 |
(12.9) |
(4.2) % |
||||
|
F&I, net |
178.8 |
199.0 |
(20.2) |
(10.1) % |
||||
|
Total gross profit |
$ 658.5 |
$ 728.7 |
$ (70.2) |
(9.6) % |
||||
|
|
||||||||
|
New vehicle retail sales |
6.2 % |
7.1 % |
(0.8) % |
|||||
|
Used vehicle retail sales |
5.1 % |
5.7 % |
(0.6) % |
|||||
|
Used vehicle wholesale sales |
2.8 % |
2.9 % |
(0.1) % |
|||||
|
Total used |
4.9 % |
5.5 % |
(0.6) % |
|||||
|
Parts and service sales |
55.6 % |
55.5 % |
0.1 % |
|||||
|
Total gross margin |
16.7 % |
17.4 % |
(0.7) % |
|||||
|
|
||||||||
|
Retail new vehicles sold |
38,549 |
41,067 |
(2,518) |
(6.1) % |
||||
|
Retail used vehicles sold |
34,261 |
39,665 |
(5,404) |
(13.6) % |
||||
|
Wholesale used vehicles sold |
9,012 |
9,661 |
(649) |
(6.7) % |
||||
|
Total used |
43,273 |
49,326 |
(6,053) |
(12.3) % |
||||
|
|
||||||||
|
New vehicle retail |
$ 52,479 |
$ 51,938 |
$ 541 |
1.0 % |
||||
|
Used vehicle retail |
$ 32,481 |
$ 30,335 |
$ 2,146 |
7.1 % |
||||
|
|
||||||||
|
New vehicle retail sales |
$ 3,260 |
$ 3,664 |
$ (404) |
(11.0) % |
||||
|
Used vehicle retail sales |
$ 1,642 |
$ 1,730 |
$ (88) |
(5.1) % |
||||
|
Used vehicle wholesale sales |
$ 275 |
$ 259 |
$ 16 |
6.2 % |
||||
|
Total used |
$ 1,358 |
$ 1,442 |
$ (85) |
(5.9) % |
||||
|
F&I PRU |
$ 2,456 |
$ 2,465 |
$ (9) |
(0.4) % |
||||
|
|
||||||||
|
SG&A expenses |
$ 444.3 |
$ 471.6 |
$ (27.2) |
(5.8) % |
||||
|
Adjusted SG&A expenses (1) |
$ 437.5 |
$ 468.0 |
$ (30.5) |
(6.5) % |
||||
|
SG&A as % gross profit |
67.5 % |
64.7 % |
2.8 % |
|||||
|
Adjusted SG&A as % gross profit (1) |
66.4 % |
64.2 % |
2.2 % |
|||||
|
|
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
|
|
|
|||||
|
|
||||||||
|
New vehicle retail sales |
$ 3,875.0 |
$ 4,101.6 |
$ (226.6) |
(5.5) % |
||||
|
Used vehicle retail sales |
2,230.4 |
2,347.6 |
(117.2) |
(5.0) % |
||||
|
Used vehicle wholesale sales |
182.2 |
178.5 |
3.8 |
2.1 % |
||||
|
Total used |
2,412.6 |
2,526.0 |
(113.5) |
(4.5) % |
||||
|
Parts and service sales |
1,058.2 |
1,086.8 |
(28.6) |
(2.6) % |
||||
|
F&I, net |
351.4 |
384.5 |
(33.1) |
(8.6) % |
||||
|
Total revenues |
$ 7,697.2 |
$ 8,098.9 |
$ (401.7) |
(5.0) % |
||||
|
|
||||||||
|
New vehicle retail sales |
$ 240.5 |
$ 281.1 |
$ (40.6) |
(14.4) % |
||||
|
Used vehicle retail sales |
115.8 |
134.4 |
(18.6) |
(13.8) % |
||||
|
Used vehicle wholesale sales |
5.2 |
5.1 |
0.2 |
3.1 % |
||||
|
Total used |
121.1 |
139.5 |
(18.4) |
(13.2) % |
||||
|
Parts and service sales |
592.7 |
598.6 |
(5.9) |
(1.0) % |
||||
|
F&I, net |
351.4 |
384.5 |
(33.1) |
(8.6) % |
||||
|
Total gross profit |
$ 1,305.7 |
$ 1,403.7 |
$ (98.0) |
(7.0) % |
||||
|
|
||||||||
|
New vehicle retail sales |
6.2 % |
6.9 % |
(0.6) % |
|||||
|
Used vehicle retail sales |
5.2 % |
5.7 % |
(0.5) % |
|||||
|
Used vehicle wholesale sales |
2.9 % |
2.8 % |
— % |
|||||
|
Total used |
5.0 % |
5.5 % |
(0.5) % |
|||||
|
Parts and service sales |
56.0 % |
55.1 % |
0.9 % |
|||||
|
Total gross margin |
17.0 % |
17.3 % |
(0.4) % |
|||||
|
|
||||||||
|
Retail new vehicles sold |
73,215 |
78,902 |
(5,687) |
(7.2) % |
||||
|
Retail used vehicles sold |
70,358 |
78,278 |
(7,920) |
(10.1) % |
||||
|
Wholesale used vehicles sold |
18,880 |
19,878 |
(998) |
(5.0) % |
||||
|
Total used |
89,238 |
98,156 |
(8,918) |
(9.1) % |
||||
|
|
||||||||
|
New vehicle retail |
$ 52,926 |
$ 51,984 |
$ 943 |
1.8 % |
||||
|
Used vehicle retail |
$ 31,700 |
$ 29,990 |
$ 1,710 |
5.7 % |
||||
|
|
||||||||
|
New vehicle retail sales |
$ 3,285 |
$ 3,563 |
$ (277) |
(7.8) % |
||||
|
Used vehicle retail sales |
$ 1,646 |
$ 1,717 |
$ (71) |
(4.1) % |
||||
|
Used vehicle wholesale sales |
$ 277 |
$ 255 |
$ 22 |
8.6 % |
||||
|
Total used |
$ 1,356 |
$ 1,421 |
$ (65) |
(4.5) % |
||||
|
F&I PRU |
$ 2,447 |
$ 2,446 |
$ 1 |
0.1 % |
||||
|
Adjusted F&I PRU (1) |
$ 2,495 |
$ 2,446 |
$ 49 |
2.0 % |
||||
|
|
||||||||
|
SG&A expenses |
$ 862.5 |
$ 919.0 |
$ (56.5) |
(6.1) % |
||||
|
Adjusted SG&A expenses (1) |
$ 898.9 |
$ 919.4 |
$ (20.5) |
(2.2) % |
||||
|
SG&A as % gross profit |
66.1 % |
65.5 % |
0.6 % |
|||||
|
Adjusted SG&A as % gross profit (1) |
68.5 % |
65.5 % |
3.0 % |
|||||
|
|
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
|
|
|
|
|
|||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 583.1 |
$ 602.5 |
$ (19.4) |
(3.2) % |
$ 2.0 |
(3.6) % |
||||||
|
Used vehicle retail sales |
605.5 |
645.0 |
(39.5) |
(6.1) % |
3.1 |
(6.6) % |
||||||
|
Used vehicle wholesale sales |
63.8 |
77.3 |
(13.5) |
(17.4) % |
0.3 |
(17.8) % |
||||||
|
Total used |
669.3 |
722.2 |
(53.0) |
(7.3) % |
3.4 |
(7.8) % |
||||||
|
Parts and service sales |
161.3 |
162.8 |
(1.5) |
(0.9) % |
0.7 |
(1.3) % |
||||||
|
F&I, net |
38.0 |
38.8 |
(0.8) |
(2.0) % |
0.2 |
(2.4) % |
||||||
|
Total revenues |
$ 1,451.7 |
$ 1,526.4 |
$ (74.7) |
(4.9) % |
$ 6.2 |
(5.3) % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 47.9 |
$ 47.9 |
$ — |
— % |
$ — |
— % |
||||||
|
Used vehicle retail sales |
25.6 |
27.8 |
(2.1) |
(7.7) % |
0.1 |
(8.2) % |
||||||
|
Used vehicle wholesale sales |
(3.2) |
(2.0) |
(1.2) |
(59.7) % |
— |
(58.5) % |
||||||
|
Total used |
22.4 |
25.8 |
(3.3) |
(12.9) % |
0.1 |
(13.4) % |
||||||
|
Parts and service sales |
93.8 |
94.7 |
(0.9) |
(0.9) % |
0.3 |
(1.3) % |
||||||
|
F&I, net |
38.0 |
38.8 |
(0.8) |
(2.0) % |
0.2 |
(2.4) % |
||||||
|
Total gross profit |
$ 202.1 |
$ 207.1 |
$ (5.0) |
(2.4) % |
$ 0.7 |
(2.7) % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
8.2 % |
7.9 % |
0.3 % |
|||||||||
|
Used vehicle retail sales |
4.2 % |
4.3 % |
(0.1) % |
|||||||||
|
Used vehicle wholesale sales |
(5.0) % |
(2.6) % |
(2.4) % |
|||||||||
|
Total used |
3.4 % |
3.6 % |
(0.2) % |
|||||||||
|
Parts and service sales |
58.1 % |
58.1 % |
— % |
|||||||||
|
Total gross margin |
13.9 % |
13.6 % |
0.4 % |
|||||||||
|
|
||||||||||||
|
Retail new vehicles sold (1) |
14,786 |
14,696 |
90 |
0.6 % |
||||||||
|
Retail used vehicles sold (1) |
19,208 |
20,575 |
(1,367) |
(6.6) % |
||||||||
|
Wholesale used vehicles sold |
6,303 |
7,369 |
(1,066) |
(14.5) % |
||||||||
|
Total used |
25,511 |
27,944 |
(2,433) |
(8.7) % |
||||||||
|
|
||||||||||||
|
New vehicle retail (1) |
$ 49,235 |
$ 46,163 |
$ 3,072 |
6.7 % |
$ 168 |
6.3 % |
||||||
|
Used vehicle retail (1) |
$ 31,683 |
$ 31,444 |
$ 239 |
0.8 % |
$ 160 |
0.3 % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 3,240 |
$ 3,259 |
$ (19) |
(0.6) % |
$ 2 |
(0.7) % |
||||||
|
Used vehicle retail sales |
$ 1,335 |
$ 1,350 |
$ (15) |
(1.1) % |
$ 8 |
(1.7) % |
||||||
|
Used vehicle wholesale sales |
$ (508) |
$ (272) |
$ (236) |
(86.7) % |
$ (4) |
(85.3) % |
||||||
|
Total used |
$ 879 |
$ 922 |
$ (42) |
(4.6) % |
$ 5 |
(5.1) % |
||||||
|
F&I PRU |
$ 1,118 |
$ 1,099 |
$ 18 |
1.7 % |
$ 5 |
1.2 % |
||||||
|
|
||||||||||||
|
SG&A expenses |
$ 179.2 |
$ 174.5 |
$ 4.6 |
2.7 % |
$ 0.8 |
2.2 % |
||||||
|
Adjusted SG&A expenses (2) |
$ 171.8 |
$ 174.5 |
$ (2.7) |
(1.5) % |
$ 0.8 |
(2.0) % |
||||||
|
SG&A as % gross profit |
88.7 % |
84.3 % |
4.4 % |
|||||||||
|
Adjusted SG&A as % gross profit (2) |
85.0 % |
84.3 % |
0.8 % |
|||||||||
|
|
|
|
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
|
|
|
|
|
|||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 1,293.5 |
$ 1,313.8 |
$ (20.3) |
(1.5) % |
$ 41.3 |
(4.7) % |
||||||
|
Used vehicle retail sales |
1,262.9 |
1,256.0 |
6.8 |
0.5 % |
44.2 |
(3.0) % |
||||||
|
Used vehicle wholesale sales |
118.7 |
136.9 |
(18.2) |
(13.3) % |
3.7 |
(15.9) % |
||||||
|
Total used |
1,381.6 |
1,392.9 |
(11.4) |
(0.8) % |
47.8 |
(4.2) % |
||||||
|
Parts and service sales |
338.6 |
323.7 |
14.9 |
4.6 % |
12.1 |
0.9 % |
||||||
|
F&I, net |
81.3 |
79.5 |
1.8 |
2.2 % |
2.8 |
(1.3) % |
||||||
|
Total revenues |
$ 3,094.9 |
$ 3,109.9 |
$ (14.9) |
(0.5) % |
$ 103.9 |
(3.8) % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 105.7 |
$ 106.9 |
$ (1.2) |
(1.1) % |
$ 3.2 |
(4.1) % |
||||||
|
Used vehicle retail sales |
53.8 |
55.5 |
(1.7) |
(3.1) % |
2.0 |
(6.6) % |
||||||
|
Used vehicle wholesale sales |
(4.4) |
(3.1) |
(1.4) |
(45.3) % |
(0.1) |
(40.8) % |
||||||
|
Total used |
49.4 |
52.5 |
(3.1) |
(5.9) % |
1.8 |
(9.4) % |
||||||
|
Parts and service sales |
196.3 |
185.1 |
11.2 |
6.0 % |
6.8 |
2.4 % |
||||||
|
F&I, net |
81.3 |
79.5 |
1.8 |
2.2 % |
2.8 |
(1.3) % |
||||||
|
Total gross profit |
$ 432.7 |
$ 424.0 |
$ 8.7 |
2.0 % |
$ 14.6 |
(1.4) % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
8.2 % |
8.1 % |
— % |
|||||||||
|
Used vehicle retail sales |
4.3 % |
4.4 % |
(0.2) % |
|||||||||
|
Used vehicle wholesale sales |
(3.7) % |
(2.2) % |
(1.5) % |
|||||||||
|
Total used |
3.6 % |
3.8 % |
(0.2) % |
|||||||||
|
Parts and service sales |
58.0 % |
57.2 % |
0.8 % |
|||||||||
|
Total gross margin |
14.0 % |
13.6 % |
0.3 % |
|||||||||
|
|
||||||||||||
|
Retail new vehicles sold (1) |
32,518 |
32,960 |
(442) |
(1.3) % |
||||||||
|
Retail used vehicles sold (1) |
40,096 |
41,580 |
(1,484) |
(3.6) % |
||||||||
|
Wholesale used vehicles sold |
11,837 |
13,506 |
(1,669) |
(12.4) % |
||||||||
|
Total used |
51,933 |
55,086 |
(3,153) |
(5.7) % |
||||||||
|
|
||||||||||||
|
New vehicle retail (1) |
$ 49,607 |
$ 45,327 |
$ 4,280 |
9.4 % |
$ 1,585 |
5.9 % |
||||||
|
Used vehicle retail (1) |
$ 31,656 |
$ 30,261 |
$ 1,394 |
4.6 % |
$ 1,108 |
0.9 % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 3,251 |
$ 3,243 |
$ 8 |
0.2 % |
$ 99 |
(2.8) % |
||||||
|
Used vehicle retail sales |
$ 1,343 |
$ 1,336 |
$ 7 |
0.5 % |
$ 49 |
(3.2) % |
||||||
|
Used vehicle wholesale sales |
$ (375) |
$ (226) |
$ (149) |
(65.8) % |
$ (12) |
(60.6) % |
||||||
|
Total used |
$ 951 |
$ 953 |
$ (2) |
(0.2) % |
$ 35 |
(3.9) % |
||||||
|
F&I PRU |
$ 1,120 |
$ 1,067 |
$ 53 |
4.9 % |
$ 38 |
1.4 % |
||||||
|
|
||||||||||||
|
SG&A expenses |
$ 361.5 |
$ 344.3 |
$ 17.2 |
5.0 % |
$ 12.8 |
1.3 % |
||||||
|
Adjusted SG&A expenses (2) |
$ 353.9 |
$ 343.4 |
$ 10.5 |
3.1 % |
$ 12.6 |
(0.6) % |
||||||
|
SG&A as % gross profit |
83.5 % |
81.2 % |
2.3 % |
|||||||||
|
Adjusted SG&A as % gross profit (2) |
81.8 % |
81.0 % |
0.8 % |
|||||||||
|
|
|
|
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|
|
|
|
|
||||||||
|
|
|||||||||||||
|
New vehicle retail sales |
$ 2,522.0 |
$ 2,590.6 |
$ (68.6) |
(2.6) % |
$ 2.0 |
(2.7) % |
|||||||
|
Used vehicle retail sales |
1,657.9 |
1,754.9 |
(96.9) |
(5.5) % |
3.1 |
(5.7) % |
|||||||
|
Used vehicle wholesale sales |
138.2 |
146.8 |
(8.6) |
(5.9) % |
0.3 |
(6.1) % |
|||||||
|
Total used |
1,796.1 |
1,901.7 |
(105.5) |
(5.5) % |
3.4 |
(5.7) % |
|||||||
|
Parts and service sales |
673.3 |
659.4 |
13.9 |
2.1 % |
0.7 |
2.0 % |
|||||||
|
F&I, net |
211.7 |
229.0 |
(17.3) |
(7.5) % |
0.2 |
(7.6) % |
|||||||
|
Total revenues |
$ 5,203.1 |
$ 5,380.7 |
$ (177.6) |
(3.3) % |
$ 6.2 |
(3.4) % |
|||||||
|
|
|||||||||||||
|
New vehicle retail sales |
$ 167.6 |
$ 189.5 |
$ (21.9) |
(11.5) % |
$ — |
(11.6) % |
|||||||
|
Used vehicle retail sales |
79.6 |
93.2 |
(13.6) |
(14.6) % |
0.1 |
(14.7) % |
|||||||
|
Used vehicle wholesale sales |
(0.2) |
1.1 |
(1.4) |
(119.6) % |
— |
(116.6) % |
|||||||
|
Total used |
79.4 |
94.3 |
(15.0) |
(15.9) % |
0.1 |
(16.0) % |
|||||||
|
Parts and service sales |
377.2 |
377.7 |
(0.6) |
(0.2) % |
0.3 |
(0.2) % |
|||||||
|
F&I, net |
211.7 |
229.0 |
(17.3) |
(7.5) % |
0.2 |
(7.6) % |
|||||||
|
Total gross profit |
$ 835.9 |
$ 890.5 |
$ (54.7) |
(6.1) % |
$ 0.7 |
(6.2) % |
|||||||
|
|
|||||||||||||
|
New vehicle retail sales |
6.6 % |
7.3 % |
(0.7) % |
||||||||||
|
Used vehicle retail sales |
4.8 % |
5.3 % |
(0.5) % |
||||||||||
|
Used vehicle wholesale sales |
(0.2) % |
0.8 % |
(0.9) % |
||||||||||
|
Total used |
4.4 % |
5.0 % |
(0.5) % |
||||||||||
|
Parts and service sales |
56.0 % |
57.3 % |
(1.3) % |
||||||||||
|
Total gross margin |
16.1 % |
16.6 % |
(0.5) % |
||||||||||
|
|
|||||||||||||
|
Retail new vehicles sold (1) |
51,840 |
53,315 |
(1,475) |
(2.8) % |
|||||||||
|
Retail used vehicles sold (1) |
51,907 |
57,534 |
(5,627) |
(9.8) % |
|||||||||
|
Wholesale used vehicles sold |
14,734 |
15,938 |
(1,204) |
(7.6) % |
|||||||||
|
Total used |
66,641 |
73,472 |
(6,831) |
(9.3) % |
|||||||||
|
|
|||||||||||||
|
New vehicle retail (1) |
$ 51,586 |
$ 50,114 |
$ 1,472 |
2.9 % |
$ 41 |
2.9 % |
|||||||
|
Used vehicle retail (1) |
$ 32,001 |
$ 30,528 |
$ 1,473 |
4.8 % |
$ 59 |
4.6 % |
|||||||
|
|
|||||||||||||
|
New vehicle retail sales |
$ 3,233 |
$ 3,554 |
$ (321) |
(9.0) % |
$ 1 |
(9.0) % |
|||||||
|
Used vehicle retail sales |
$ 1,534 |
$ 1,620 |
$ (86) |
(5.3) % |
$ 3 |
(5.5) % |
|||||||
|
Used vehicle wholesale sales |
$ (15) |
$ 71 |
$ (86) |
(121.2) % |
$ (2) |
(118.0) % |
|||||||
|
Total used |
$ 1,191 |
$ 1,284 |
$ (93) |
(7.2) % |
$ 2 |
(7.4) % |
|||||||
|
F&I PRU |
$ 2,041 |
$ 2,066 |
$ (25) |
(1.2) % |
$ 2 |
(1.3) % |
|||||||
|
|
|||||||||||||
|
SG&A expenses |
$ 593.8 |
$ 605.0 |
$ (11.2) |
(1.9) % |
$ 0.8 |
(2.0) % |
|||||||
|
Adjusted SG&A expenses (2) |
$ 586.2 |
$ 602.1 |
$ (15.8) |
(2.6) % |
$ 0.8 |
(2.8) % |
|||||||
|
SG&A as % gross profit |
71.0 % |
67.9 % |
3.1 % |
||||||||||
|
Adjusted SG&A as % gross profit (2) |
70.1 % |
67.6 % |
2.5 % |
||||||||||
|
Operating margin % |
4.1 % |
4.8 % |
(0.7) % |
||||||||||
|
Adjusted operating margin % (2) |
4.3 % |
4.9 % |
(0.6) % |
||||||||||
|
|
|
|
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|
|
|
|
|
||||||||
|
|
|||||||||||||
|
New vehicle retail sales |
$ 4,984.4 |
$ 5,159.8 |
$ (175.3) |
(3.4) % |
$ 40.5 |
(4.2) % |
|||||||
|
Used vehicle retail sales |
3,366.2 |
3,440.3 |
(74.1) |
(2.2) % |
43.8 |
(3.4) % |
|||||||
|
Used vehicle wholesale sales |
279.0 |
284.9 |
(6.0) |
(2.1) % |
3.2 |
(3.2) % |
|||||||
|
Total used |
3,645.2 |
3,725.2 |
(80.1) |
(2.1) % |
46.9 |
(3.4) % |
|||||||
|
Parts and service sales |
1,350.6 |
1,307.3 |
43.3 |
3.3 % |
11.9 |
2.4 % |
|||||||
|
F&I, net |
420.5 |
448.4 |
(28.0) |
(6.2) % |
2.7 |
(6.8) % |
|||||||
|
Total revenues |
$ 10,400.7 |
$ 10,640.8 |
$ (240.1) |
(2.3) % |
$ 102.1 |
(3.2) % |
|||||||
|
|
|||||||||||||
|
New vehicle retail sales |
$ 332.2 |
$ 371.9 |
$ (39.7) |
(10.7) % |
$ 3.2 |
(11.5) % |
|||||||
|
Used vehicle retail sales |
164.7 |
183.0 |
(18.2) |
(10.0) % |
1.9 |
(11.0) % |
|||||||
|
Used vehicle wholesale sales |
1.6 |
3.2 |
(1.6) |
(49.6) % |
(0.1) |
(46.2) % |
|||||||
|
Total used |
166.3 |
186.2 |
(19.8) |
(10.6) % |
1.8 |
(11.6) % |
|||||||
|
Parts and service sales |
761.6 |
740.6 |
21.0 |
2.8 % |
6.6 |
1.9 % |
|||||||
|
F&I, net |
420.5 |
448.4 |
(28.0) |
(6.2) % |
2.7 |
(6.8) % |
|||||||
|
Total gross profit |
$ 1,680.5 |
$ 1,747.0 |
$ (66.5) |
(3.8) % |
$ 14.3 |
(4.6) % |
|||||||
|
|
|||||||||||||
|
New vehicle retail sales |
6.7 % |
7.2 % |
(0.5) % |
||||||||||
|
Used vehicle retail sales |
4.9 % |
5.3 % |
(0.4) % |
||||||||||
|
Used vehicle wholesale sales |
0.6 % |
1.1 % |
(0.5) % |
||||||||||
|
Total used |
4.6 % |
5.0 % |
(0.4) % |
||||||||||
|
Parts and service sales |
56.4 % |
56.6 % |
(0.3) % |
||||||||||
|
Total gross margin |
16.2 % |
16.4 % |
(0.3) % |
||||||||||
|
|
|||||||||||||
|
Retail new vehicles sold (1) |
102,652 |
106,940 |
(4,288) |
(4.0) % |
|||||||||
|
Retail used vehicles sold (1) |
107,035 |
114,689 |
(7,654) |
(6.7) % |
|||||||||
|
Wholesale used vehicles sold |
29,573 |
31,212 |
(1,639) |
(5.3) % |
|||||||||
|
Total used |
136,608 |
145,901 |
(9,293) |
(6.4) % |
|||||||||
|
|
|||||||||||||
|
New vehicle retail (1) |
$ 51,818 |
$ 50,032 |
$ 1,787 |
3.6 % |
$ 417 |
2.7 % |
|||||||
|
Used vehicle retail (1) |
$ 31,509 |
$ 30,013 |
$ 1,497 |
5.0 % |
$ 410 |
3.6 % |
|||||||
|
|
|||||||||||||
|
New vehicle retail sales |
$ 3,236 |
$ 3,477 |
$ (242) |
(6.9) % |
$ 31 |
(7.8) % |
|||||||
|
Used vehicle retail sales |
$ 1,539 |
$ 1,595 |
$ (56) |
(3.5) % |
$ 18 |
(4.6) % |
|||||||
|
Used vehicle wholesale sales |
$ 54 |
$ 102 |
$ (48) |
(46.8) % |
$ (4) |
(43.2) % |
|||||||
|
Total used |
$ 1,218 |
$ 1,276 |
$ (58) |
(4.6) % |
$ 13 |
(5.6) % |
|||||||
|
F&I PRU |
$ 2,005 |
$ 2,023 |
$ (18) |
(0.9) % |
$ 13 |
(1.5) % |
|||||||
|
Adjusted F&I PRU (2) |
$ 2,038 |
$ 2,023 |
$ 14 |
0.7 % |
$ 13 |
0.1 % |
|||||||
|
|
|||||||||||||
|
SG&A expenses |
$ 1,209.2 |
$ 1,200.0 |
$ 9.3 |
0.8 % |
$ 12.2 |
(0.2) % |
|||||||
|
Adjusted SG&A expenses (2) |
$ 1,200.7 |
$ 1,192.3 |
$ 8.4 |
0.7 % |
$ 12.1 |
(0.3) % |
|||||||
|
SG&A as % gross profit |
72.0 % |
68.7 % |
3.3 % |
||||||||||
|
Adjusted SG&A as % gross profit (2) |
71.2 % |
68.2 % |
2.9 % |
||||||||||
|
Operating margin % |
3.9 % |
4.6 % |
(0.7) % |
||||||||||
|
Adjusted operating margin % (2) |
4.1 % |
4.7 % |
(0.6) % |
||||||||||
|
|
|
|
|
|
|||||||
|
|
|||||||
|
|
|||||||
|
|
|||||||
|
|
|||||||
|
|
|
|
|
||||
|
|
|||||||
|
New vehicle retail sales |
$ 1,962.8 |
$ 2,035.4 |
$ (72.6) |
(3.6) % |
|||
|
Used vehicle retail sales |
1,065.2 |
1,161.7 |
(96.5) |
(8.3) % |
|||
|
Used vehicle wholesale sales |
83.1 |
77.3 |
5.8 |
7.5 % |
|||
|
Total used |
1,148.3 |
1,239.1 |
(90.8) |
(7.3) % |
|||
|
Parts and service sales |
516.5 |
510.1 |
6.4 |
1.3 % |
|||
|
F&I, net |
174.6 |
193.4 |
(18.8) |
(9.7) % |
|||
|
Total revenues |
$ 3,802.2 |
$ 3,977.9 |
$ (175.7) |
(4.4) % |
|||
|
|
|||||||
|
New vehicle retail sales |
$ 121.0 |
$ 145.0 |
$ (24.0) |
(16.5) % |
|||
|
Used vehicle retail sales |
54.6 |
66.6 |
(12.0) |
(18.1) % |
|||
|
Used vehicle wholesale sales |
2.6 |
2.3 |
0.3 |
11.8 % |
|||
|
Total used |
57.2 |
68.9 |
(11.8) |
(17.1) % |
|||
|
Parts and service sales |
286.2 |
290.1 |
(4.0) |
(1.4) % |
|||
|
F&I, net |
174.6 |
193.4 |
(18.8) |
(9.7) % |
|||
|
Total gross profit |
$ 639.0 |
$ 697.5 |
$ (58.5) |
(8.4) % |
|||
|
|
|||||||
|
New vehicle retail sales |
6.2 % |
7.1 % |
(1.0) % |
||||
|
Used vehicle retail sales |
5.1 % |
5.7 % |
(0.6) % |
||||
|
Used vehicle wholesale sales |
3.1 % |
3.0 % |
0.1 % |
||||
|
Total used |
5.0 % |
5.6 % |
(0.6) % |
||||
|
Parts and service sales |
55.4 % |
56.9 % |
(1.5) % |
||||
|
Total gross margin |
16.8 % |
17.5 % |
(0.7) % |
||||
|
|
|||||||
|
Retail new vehicles sold |
37,578 |
39,594 |
(2,016) |
(5.1) % |
|||
|
Retail used vehicles sold |
33,060 |
38,431 |
(5,371) |
(14.0) % |
|||
|
Wholesale used vehicles sold |
8,714 |
9,219 |
(505) |
(5.5) % |
|||
|
Total used |
41,774 |
47,650 |
(5,876) |
(12.3) % |
|||
|
|
|||||||
|
New vehicle retail |
$ 52,232 |
$ 51,407 |
$ 825 |
1.6 % |
|||
|
Used vehicle retail |
$ 32,220 |
$ 30,229 |
$ 1,991 |
6.6 % |
|||
|
|
|||||||
|
New vehicle retail sales |
$ 3,221 |
$ 3,662 |
$ (441) |
(12.0) % |
|||
|
Used vehicle retail sales |
$ 1,651 |
$ 1,733 |
$ (83) |
(4.8) % |
|||
|
Used vehicle wholesale sales |
$ 299 |
$ 253 |
$ 46 |
18.2 % |
|||
|
Total used |
$ 1,369 |
$ 1,447 |
$ (78) |
(5.4) % |
|||
|
F&I PRU |
$ 2,471 |
$ 2,478 |
$ (7) |
(0.3) % |
|||
|
|
|||||||
|
SG&A expenses |
$ 429.4 |
$ 446.1 |
$ (16.7) |
(3.7) % |
|||
|
Adjusted SG&A expenses (1) |
$ 422.6 |
$ 443.3 |
$ (20.7) |
(4.7) % |
|||
|
SG&A as % gross profit |
67.2 % |
64.0 % |
3.2 % |
||||
|
Adjusted SG&A as % gross profit (1) |
66.1 % |
63.6 % |
2.6 % |
||||
|
|
|
|
|||||||
|
|
|||||||
|
|
|||||||
|
|
|||||||
|
|
|||||||
|
|
|
|
|
||||
|
|
|||||||
|
New vehicle retail sales |
$ 3,727.2 |
$ 3,934.2 |
$ (207.0) |
(5.3) % |
|||
|
Used vehicle retail sales |
2,125.7 |
2,275.4 |
(149.7) |
(6.6) % |
|||
|
Used vehicle wholesale sales |
172.7 |
162.4 |
10.4 |
6.4 % |
|||
|
Total used |
2,298.4 |
2,437.8 |
(139.4) |
(5.7) % |
|||
|
Parts and service sales |
1,020.8 |
1,008.8 |
12.0 |
1.2 % |
|||
|
F&I, net |
340.5 |
374.7 |
(34.2) |
(9.1) % |
|||
|
Total revenues |
$ 7,386.9 |
$ 7,755.5 |
$ (368.6) |
(4.8) % |
|||
|
|
|||||||
|
New vehicle retail sales |
$ 228.9 |
$ 272.1 |
$ (43.1) |
(15.9) % |
|||
|
Used vehicle retail sales |
111.9 |
131.1 |
(19.1) |
(14.6) % |
|||
|
Used vehicle wholesale sales |
5.3 |
4.8 |
0.6 |
11.9 % |
|||
|
Total used |
117.3 |
135.8 |
(18.6) |
(13.7) % |
|||
|
Parts and service sales |
570.2 |
569.0 |
1.1 |
0.2 % |
|||
|
F&I, net |
340.5 |
374.7 |
(34.2) |
(9.1) % |
|||
|
Total gross profit |
$ 1,256.8 |
$ 1,351.6 |
$ (94.8) |
(7.0) % |
|||
|
|
|||||||
|
New vehicle retail sales |
6.1 % |
6.9 % |
(0.8) % |
||||
|
Used vehicle retail sales |
5.3 % |
5.8 % |
(0.5) % |
||||
|
Used vehicle wholesale sales |
3.1 % |
2.9 % |
0.2 % |
||||
|
Total used |
5.1 % |
5.6 % |
(0.5) % |
||||
|
Parts and service sales |
55.9 % |
56.4 % |
(0.5) % |
||||
|
Total gross margin |
17.0 % |
17.4 % |
(0.4) % |
||||
|
|
|||||||
|
Retail new vehicles sold |
70,982 |
76,184 |
(5,202) |
(6.8) % |
|||
|
Retail used vehicles sold |
67,644 |
75,997 |
(8,353) |
(11.0) % |
|||
|
Wholesale used vehicles sold |
18,220 |
19,008 |
(788) |
(4.1) % |
|||
|
Total used |
85,864 |
95,005 |
(9,141) |
(9.6) % |
|||
|
|
|||||||
|
New vehicle retail |
$ 52,509 |
$ 51,640 |
$ 868 |
1.7 % |
|||
|
Used vehicle retail |
$ 31,425 |
$ 29,941 |
$ 1,484 |
5.0 % |
|||
|
|
|||||||
|
New vehicle retail sales |
$ 3,225 |
$ 3,571 |
$ (346) |
(9.7) % |
|||
|
Used vehicle retail sales |
$ 1,655 |
$ 1,725 |
$ (70) |
(4.0) % |
|||
|
Used vehicle wholesale sales |
$ 293 |
$ 251 |
$ 42 |
16.8 % |
|||
|
Total used |
$ 1,366 |
$ 1,430 |
$ (64) |
(4.5) % |
|||
|
F&I PRU |
$ 2,456 |
$ 2,462 |
$ (6) |
(0.2) % |
|||
|
Adjusted F&I PRU (1) |
$ 2,505 |
$ 2,462 |
$ 43 |
1.8 % |
|||
|
|
|||||||
|
SG&A expenses |
$ 870.3 |
$ 884.5 |
$ (14.2) |
(1.6) % |
|||
|
Adjusted SG&A expenses (1) |
$ 862.5 |
$ 877.8 |
$ (15.3) |
(1.7) % |
|||
|
SG&A as % gross profit |
69.2 % |
65.4 % |
3.8 % |
||||
|
Adjusted SG&A as % gross profit (1) |
68.3 % |
64.9 % |
3.3 % |
||||
|
|
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
|
|
|
|
|
|||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 559.2 |
$ 555.2 |
$ 4.0 |
0.7 % |
$ 2.0 |
0.4 % |
||||||
|
Used vehicle retail sales |
592.7 |
593.1 |
(0.4) |
(0.1) % |
3.1 |
(0.6) % |
||||||
|
Used vehicle wholesale sales |
55.1 |
69.5 |
(14.4) |
(20.7) % |
0.3 |
(21.1) % |
||||||
|
Total used |
647.8 |
662.6 |
(14.8) |
(2.2) % |
3.4 |
(2.7) % |
||||||
|
Parts and service sales |
156.8 |
149.4 |
7.4 |
5.0 % |
0.7 |
4.5 % |
||||||
|
F&I, net |
37.2 |
35.6 |
1.5 |
4.2 % |
0.2 |
3.8 % |
||||||
|
Total revenues |
$ 1,401.0 |
$ 1,402.8 |
$ (1.8) |
(0.1) % |
$ 6.2 |
(0.6) % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 46.5 |
$ 44.4 |
$ 2.1 |
4.7 % |
$ — |
4.6 % |
||||||
|
Used vehicle retail sales |
25.0 |
26.6 |
(1.6) |
(5.9) % |
0.1 |
(6.4) % |
||||||
|
Used vehicle wholesale sales |
(2.8) |
(1.2) |
(1.6) |
(137.2) % |
— |
(134.4) % |
||||||
|
Total used |
22.2 |
25.4 |
(3.2) |
(12.6) % |
0.1 |
(13.0) % |
||||||
|
Parts and service sales |
91.0 |
87.6 |
3.4 |
3.9 % |
0.3 |
3.5 % |
||||||
|
F&I, net |
37.2 |
35.6 |
1.5 |
4.2 % |
0.2 |
3.8 % |
||||||
|
Total gross profit |
$ 196.9 |
$ 193.1 |
$ 3.8 |
2.0 % |
$ 0.7 |
1.6 % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
8.3 % |
8.0 % |
0.3 % |
|||||||||
|
Used vehicle retail sales |
4.2 % |
4.5 % |
(0.3) % |
|||||||||
|
Used vehicle wholesale sales |
(5.1) % |
(1.7) % |
(3.4) % |
|||||||||
|
Total used |
3.4 % |
3.8 % |
(0.4) % |
|||||||||
|
Parts and service sales |
58.0 % |
58.7 % |
(0.6) % |
|||||||||
|
Total gross margin |
14.1 % |
13.8 % |
0.3 % |
|||||||||
|
|
||||||||||||
|
Retail new vehicles sold (1) |
14,262 |
13,721 |
541 |
3.9 % |
||||||||
|
Retail used vehicles sold (1) |
18,847 |
19,103 |
(256) |
(1.3) % |
||||||||
|
Wholesale used vehicles sold |
6,020 |
6,719 |
(699) |
(10.4) % |
||||||||
|
Total used |
24,867 |
25,822 |
(955) |
(3.7) % |
||||||||
|
|
||||||||||||
|
New vehicle retail (1) |
$ 49,404 |
$ 45,837 |
$ 3,567 |
7.8 % |
$ 180 |
7.4 % |
||||||
|
Used vehicle retail (1) |
$ 31,614 |
$ 31,130 |
$ 484 |
1.6 % |
$ 164 |
1.0 % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 3,263 |
$ 3,239 |
$ 24 |
0.7 % |
$ 3 |
0.6 % |
||||||
|
Used vehicle retail sales |
$ 1,328 |
$ 1,392 |
$ (64) |
(4.6) % |
$ 8 |
(5.1) % |
||||||
|
Used vehicle wholesale sales |
$ (469) |
$ (177) |
$ (292) |
NM |
$ (6) |
NM |
||||||
|
Total used |
$ 893 |
$ 983 |
$ (91) |
(9.2) % |
$ 5 |
(9.7) % |
||||||
|
F&I PRU |
$ 1,122 |
$ 1,086 |
$ 36 |
3.4 % |
$ 5 |
2.9 % |
||||||
|
|
||||||||||||
|
SG&A expenses |
$ 164.3 |
$ 158.8 |
$ 5.5 |
3.5 % |
$ 0.8 |
3.0 % |
||||||
|
Adjusted SG&A expenses (2) |
$ 163.6 |
$ 158.8 |
$ 4.8 |
3.0 % |
$ 0.8 |
2.5 % |
||||||
|
SG&A as % gross profit |
83.5 % |
82.2 % |
1.2 % |
|||||||||
|
Adjusted SG&A as % gross profit (2) |
83.1 % |
82.2 % |
0.9 % |
|||||||||
|
|
|
|
|
NM — Not Meaningful |
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
|
|
|
|
|
|||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 1,257.2 |
$ 1,225.6 |
$ 31.6 |
2.6 % |
$ 40.5 |
(0.7) % |
||||||
|
Used vehicle retail sales |
1,240.5 |
1,164.9 |
75.6 |
6.5 % |
43.8 |
2.7 % |
||||||
|
Used vehicle wholesale sales |
106.2 |
122.6 |
(16.3) |
(13.3) % |
3.2 |
(16.0) % |
||||||
|
Total used |
1,346.7 |
1,287.4 |
59.3 |
4.6 % |
46.9 |
1.0 % |
||||||
|
Parts and service sales |
329.8 |
298.5 |
31.3 |
10.5 % |
11.9 |
6.5 % |
||||||
|
F&I, net |
80.0 |
73.7 |
6.2 |
8.5 % |
2.7 |
4.7 % |
||||||
|
Total revenues |
$ 3,013.8 |
$ 2,885.3 |
$ 128.5 |
4.5 % |
$ 102.1 |
0.9 % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 103.3 |
$ 99.8 |
$ 3.4 |
3.4 % |
$ 3.2 |
0.3 % |
||||||
|
Used vehicle retail sales |
52.8 |
51.9 |
0.9 |
1.7 % |
1.9 |
(1.9) % |
||||||
|
Used vehicle wholesale sales |
(3.7) |
(1.6) |
(2.2) |
(136.4) % |
(0.1) |
(129.6) % |
||||||
|
Total used |
49.1 |
50.3 |
(1.3) |
(2.5) % |
1.8 |
(6.0) % |
||||||
|
Parts and service sales |
191.4 |
171.5 |
19.9 |
11.6 % |
6.6 |
7.7 % |
||||||
|
F&I, net |
80.0 |
73.7 |
6.2 |
8.5 % |
2.7 |
4.7 % |
||||||
|
Total gross profit |
$ 423.7 |
$ 395.4 |
$ 28.3 |
7.1 % |
$ 14.3 |
3.5 % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
8.2 % |
8.1 % |
0.1 % |
|||||||||
|
Used vehicle retail sales |
4.3 % |
4.5 % |
(0.2) % |
|||||||||
|
Used vehicle wholesale sales |
(3.5) % |
(1.3) % |
(2.2) % |
|||||||||
|
Total used |
3.6 % |
3.9 % |
(0.3) % |
|||||||||
|
Parts and service sales |
58.0 % |
57.5 % |
0.6 % |
|||||||||
|
Total gross margin |
14.1 % |
13.7 % |
0.4 % |
|||||||||
|
|
||||||||||||
|
Retail new vehicles sold (1) |
31,670 |
30,756 |
914 |
3.0 % |
||||||||
|
Retail used vehicles sold (1) |
39,391 |
38,692 |
699 |
1.8 % |
||||||||
|
Wholesale used vehicles sold |
11,353 |
12,204 |
(851) |
(7.0) % |
||||||||
|
Total used |
50,744 |
50,896 |
(152) |
(0.3) % |
||||||||
|
|
||||||||||||
|
New vehicle retail (1) |
$ 49,842 |
$ 45,434 |
$ 4,407 |
9.7 % |
$ 1,609 |
6.2 % |
||||||
|
Used vehicle retail (1) |
$ 31,654 |
$ 30,153 |
$ 1,501 |
5.0 % |
$ 1,118 |
1.3 % |
||||||
|
|
||||||||||||
|
New vehicle retail sales |
$ 3,260 |
$ 3,246 |
$ 15 |
0.4 % |
$ 100 |
(2.6) % |
||||||
|
Used vehicle retail sales |
$ 1,341 |
$ 1,342 |
$ (1) |
(0.1) % |
$ 48 |
(3.7) % |
||||||
|
Used vehicle wholesale sales |
$ (328) |
$ (129) |
$ (199) |
NM |
$ (9) |
(146.9) % |
||||||
|
Total used |
$ 967 |
$ 989 |
$ (22) |
(2.2) % |
$ 35 |
(5.8) % |
||||||
|
F&I PRU |
$ 1,126 |
$ 1,062 |
$ 64 |
6.0 % |
$ 39 |
2.4 % |
||||||
|
|
||||||||||||
|
SG&A expenses |
$ 338.9 |
$ 315.5 |
$ 23.5 |
7.4 % |
$ 12.2 |
3.6 % |
||||||
|
Adjusted SG&A expenses (2) |
$ 338.2 |
$ 314.5 |
$ 23.7 |
7.5 % |
$ 12.1 |
3.7 % |
||||||
|
SG&A as % gross profit |
80.0 % |
79.8 % |
0.2 % |
|||||||||
|
Adjusted SG&A as % gross profit (2) |
79.8 % |
79.5 % |
0.3 % |
|||||||||
|
|
|
|
|
NM — Not Meaningful |
|
|
|||||||||||||||||
|
|
|||||||||||||||||
|
|
|||||||||||||||||
|
|
|||||||||||||||||
|
|
|||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
|
SG&A expenses |
$ 623.5 |
$ (2.8) |
$ (6.6) |
$ (2.7) |
$ — |
$ (0.3) |
$ (1.7) |
$ — |
$ 609.3 |
||||||||
|
Depreciation and amortization |
$ 30.9 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ (1.2) |
$ 29.7 |
||||||||
|
Asset impairments |
$ 1.0 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ (1.0) |
$ — |
||||||||
|
Restructuring charges |
$ 2.1 |
$ — |
$ — |
$ — |
$ (2.1) |
$ — |
$ — |
$ — |
$ — |
||||||||
|
Income from operations |
$ 203.1 |
$ 2.8 |
$ 6.6 |
$ 2.7 |
$ 2.1 |
$ 0.3 |
$ 1.7 |
$ 2.2 |
$ 221.5 |
||||||||
|
Income before income taxes |
$ 134.4 |
$ 2.8 |
$ 6.6 |
$ 2.7 |
$ 2.1 |
$ 0.3 |
$ 1.7 |
$ 2.2 |
$ 152.9 |
||||||||
|
Less: Provision for income taxes |
31.4 |
0.7 |
3.7 |
0.6 |
0.5 |
0.1 |
0.4 |
0.5 |
38.0 |
||||||||
|
Net income from continuing |
103.0 |
2.1 |
2.9 |
2.0 |
1.6 |
0.3 |
1.3 |
1.7 |
114.9 |
||||||||
|
Less: Earnings allocated to |
1.0 |
— |
— |
— |
— |
— |
— |
— |
1.1 |
||||||||
|
Net income from continuing |
$ 102.0 |
$ 2.1 |
$ 2.9 |
$ 2.0 |
$ 1.6 |
$ 0.2 |
$ 1.3 |
$ 1.7 |
$ 113.8 |
||||||||
|
Diluted earnings per common share |
$ 8.62 |
$ 0.18 |
$ 0.24 |
$ 0.17 |
$ 0.13 |
$ 0.02 |
$ 0.11 |
$ 0.14 |
$ 9.61 |
||||||||
|
Effective tax rate |
23.4 % |
24.8 % |
|||||||||||||||
|
SG&A as % gross profit (1) |
72.4 % |
70.8 % |
|||||||||||||||
|
Operating margin (2) |
3.8 % |
4.1 % |
|||||||||||||||
|
Pretax margin (3) |
2.5 % |
2.8 % |
|||||||||||||||
|
Same Store SG&A expenses |
$ 593.8 |
$ (2.8) |
$ — |
$ (2.7) |
$ — |
$ (0.3) |
$ (1.7) |
$ — |
$ 586.2 |
||||||||
|
Same Store SG&A as % gross profit (1) |
71.0 % |
70.1 % |
|||||||||||||||
|
Same Store income from operations |
$ 212.5 |
$ 2.8 |
$ — |
$ 2.7 |
$ — |
$ 0.3 |
$ 1.7 |
$ 1.2 |
$ 221.2 |
||||||||
|
Same Store operating margin (2) |
4.1 % |
4.3 % |
|||||||||||||||
|
|
|
|
||||
|
Net income from discontinued operations |
$ 0.3 |
$ — |
$ 0.3 |
|||
|
Less: Earnings allocated to participating securities |
— |
— |
— |
|||
|
Net income from discontinued operations available to diluted common shares |
$ 0.3 |
$ — |
$ 0.3 |
|||
|
Net income |
$ 103.3 |
$ 11.9 |
$ 115.2 |
|||
|
Less: Earnings allocated to participating securities |
1.0 |
0.1 |
1.1 |
|||
|
Net income available to diluted common shares |
$ 102.3 |
$ 11.8 |
$ 114.1 |
|||
|
Diluted earnings per common share from discontinued operations |
$ 0.03 |
$ — |
$ 0.03 |
|||
|
Diluted earnings per common share from continuing operations |
8.62 |
1.00 |
9.61 |
|||
|
Diluted earnings per common share |
$ 8.64 |
$ 1.00 |
$ 9.64 |
|
|
|
|
|
|
|
|
||||||||||||||||
|
|
||||||||||||||||
|
|
||||||||||||||||
|
(In millions, except per share data) |
||||||||||||||||
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
SG&A expenses |
$ 646.1 |
$ (1.4) |
$ (0.6) |
$ — |
$ (0.7) |
$ (0.8) |
$ — |
$ 642.5 |
||||||||
|
Depreciation and amortization expense |
$ 28.7 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ (1.0) |
$ 27.8 |
||||||||
|
Asset impairments |
$ 0.4 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ (0.4) |
$ — |
||||||||
|
Restructuring charges |
$ 7.6 |
$ — |
$ — |
$ (7.6) |
$ — |
$ — |
$ — |
$ — |
||||||||
|
Income from operations |
$ 253.0 |
$ 1.4 |
$ 0.6 |
$ 7.6 |
$ 0.7 |
$ 0.8 |
$ 1.3 |
$ 265.5 |
||||||||
|
Income before income taxes |
$ 183.9 |
$ 1.4 |
$ 0.6 |
$ 7.6 |
$ 0.7 |
$ 0.8 |
$ 1.3 |
$ 196.4 |
||||||||
|
Less: Provision for income taxes |
44.0 |
0.3 |
0.5 |
1.2 |
0.2 |
0.2 |
0.3 |
46.8 |
||||||||
|
Net income from continuing operations |
139.8 |
1.1 |
0.1 |
6.5 |
0.6 |
0.6 |
1.0 |
149.6 |
||||||||
|
Less: Earnings allocated to participating |
1.6 |
— |
— |
0.1 |
— |
— |
— |
1.7 |
||||||||
|
Net income from continuing operations |
$ 138.3 |
$ 1.1 |
$ 0.1 |
$ 6.4 |
$ 0.6 |
$ 0.6 |
$ 1.0 |
$ 147.9 |
||||||||
|
Diluted earnings per common share from |
$ 10.77 |
$ 0.08 |
$ 0.01 |
$ 0.50 |
$ 0.04 |
$ 0.05 |
$ 0.08 |
$ 11.52 |
||||||||
|
Effective tax rate |
24.0 % |
23.8 % |
||||||||||||||
|
SG&A as % gross profit (1) |
69.0 % |
68.7 % |
||||||||||||||
|
Operating margin (2) |
4.4 % |
4.7 % |
||||||||||||||
|
Pretax margin (3) |
3.2 % |
3.4 % |
||||||||||||||
|
Same Store SG&A expenses |
$ 605.0 |
$ (1.4) |
$ — |
$ — |
$ (0.7) |
$ (0.8) |
$ — |
$ 602.1 |
||||||||
|
Same Store SG&A as % gross profit (1) |
67.9 % |
67.6 % |
||||||||||||||
|
Same Store income from operations |
$ 258.3 |
$ 1.4 |
$ — |
$ — |
$ 0.7 |
$ 0.8 |
$ 1.3 |
$ 262.5 |
||||||||
|
Same Store operating margin (2) |
4.8 % |
4.9 % |
||||||||||||||
|
|
|
|
||||
|
Net income from discontinued operations |
$ 0.7 |
$ — |
$ 0.7 |
|||
|
Less: Earnings allocated to participating securities |
— |
— |
— |
|||
|
Net income from discontinued operations available to diluted common shares |
$ 0.7 |
$ — |
$ 0.7 |
|||
|
Net income |
$ 140.5 |
$ 9.8 |
$ 150.3 |
|||
|
Less: Earnings allocated to participating securities |
1.6 |
0.1 |
1.7 |
|||
|
Net income available to diluted common shares |
$ 139.0 |
$ 9.7 |
$ 148.6 |
|||
|
Diluted earnings per common share from discontinued operations |
$ 0.05 |
$ — |
$ 0.05 |
|||
|
Diluted earnings per common share from continuing operations |
10.77 |
0.75 |
11.52 |
|||
|
Diluted earnings per common share |
$ 10.82 |
$ 0.75 |
$ 11.57 |
|
|
|
|
|
|
|
|
||||||||||||||||||||||
|
|
||||||||||||||||||||||
|
|
||||||||||||||||||||||
|
|
||||||||||||||||||||||
|
|
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
F&I, net |
$ 432.7 |
$ 6.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 439.5 |
|||||||||||
|
Total gross profit |
$ 1,738.4 |
$ 6.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 1,745.2 |
|||||||||||
|
SG&A expenses |
$ 1,224.1 |
$ — |
$ — |
$ (3.5) |
$ 37.2 |
$ (2.7) |
$ — |
$ (0.3) |
$ (2.1) |
$ — |
$ 1,252.7 |
|||||||||||
|
Depreciation and |
$ 62.1 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ (2.0) |
$ 60.0 |
|||||||||||
|
Asset impairments |
$ 3.5 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ (3.5) |
$ — |
|||||||||||
|
Restructuring charges |
$ 3.1 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ (3.1) |
$ — |
$ — |
$ — |
$ — |
|||||||||||
|
Income (loss) from operations |
$ 445.7 |
$ 6.8 |
$ — |
$ 3.5 |
$ (37.2) |
$ 2.7 |
$ 3.1 |
$ 0.3 |
$ 2.1 |
$ 5.6 |
$ 432.5 |
|||||||||||
|
Other interest expense, net |
$ 95.5 |
$ — |
$ 0.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 96.2 |
|||||||||||
|
Income (loss) before income |
$ 304.9 |
$ 6.8 |
$ (0.8) |
$ 3.5 |
$ (37.2) |
$ 2.7 |
$ 3.1 |
$ 0.3 |
$ 2.1 |
$ 5.6 |
$ 290.9 |
|||||||||||
|
Less: Provision (benefit) for |
72.0 |
1.6 |
(0.2) |
0.8 |
(5.6) |
0.6 |
0.9 |
0.1 |
0.5 |
1.3 |
72.1 |
|||||||||||
|
Net income (loss) from |
232.9 |
5.2 |
(0.6) |
2.6 |
(31.5) |
2.0 |
2.2 |
0.2 |
1.6 |
4.2 |
218.8 |
|||||||||||
|
Less: Earnings (loss) |
2.3 |
0.1 |
— |
— |
(0.3) |
— |
— |
— |
— |
— |
2.1 |
|||||||||||
|
Net income (loss) from |
$ 230.6 |
$ 5.1 |
$ (0.6) |
$ 2.6 |
$ (31.2) |
$ 2.0 |
$ 2.2 |
$ 0.2 |
$ 1.5 |
$ 4.2 |
$ 216.7 |
|||||||||||
|
Diluted earnings (loss) per |
$ 19.44 |
$ 0.43 |
$ (0.05) |
$ 0.22 |
$ (2.63) |
$ 0.17 |
$ 0.19 |
$ 0.02 |
$ 0.13 |
$ 0.35 |
$ 18.27 |
|||||||||||
|
Effective tax rate |
23.6 % |
24.8 % |
||||||||||||||||||||
|
F&I PRU (1) |
$ 2,001 |
$ 2,033 |
||||||||||||||||||||
|
SG&A as % gross profit (2) |
70.4 % |
71.8 % |
||||||||||||||||||||
|
Operating margin (3) |
4.1 % |
4.0 % |
||||||||||||||||||||
|
Pretax margin (4) |
2.8 % |
2.7 % |
||||||||||||||||||||
|
Same Store F&I net |
$ 420.5 |
$ 6.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 427.3 |
|||||||||||
|
Same Store F&I PRU (1) |
$ 2,005 |
$ 2,038 |
||||||||||||||||||||
|
Same Store total gross profit |
$ 1,680.5 |
$ 6.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 1,687.3 |
|||||||||||
|
Same Store SG&A expenses |
$ 1,209.2 |
$ — |
$ — |
$ (3.5) |
$ — |
$ (2.7) |
$ — |
$ (0.3) |
$ (2.1) |
$ — |
$ 1,200.7 |
|||||||||||
|
Same Store SG&A as % |
72.0 % |
71.2 % |
||||||||||||||||||||
|
Same Store income from |
$ 410.0 |
$ 6.8 |
$ — |
$ 3.5 |
$ — |
$ 2.7 |
$ — |
$ 0.3 |
$ 2.1 |
$ 4.0 |
$ 429.3 |
|||||||||||
|
Same Store operating margin (3) |
3.9 % |
4.1 % |
||||||||||||||||||||
|
|
|
|
||||
|
Net income from discontinued operations |
$ 0.7 |
$ — |
$ 0.7 |
|||
|
Less: Earnings allocated to participating securities |
— |
— |
— |
|||
|
Net income from discontinued operations available to diluted common shares |
$ 0.7 |
$ — |
$ 0.7 |
|||
|
Net income (loss) |
$ 233.5 |
$ (14.0) |
$ 219.5 |
|||
|
Less: Earnings (loss) allocated to participating securities |
2.3 |
(0.1) |
2.2 |
|||
|
Net income (loss) available to diluted common shares |
$ 231.2 |
$ (13.9) |
$ 217.3 |
|||
|
Diluted earnings per common share from discontinued operations |
$ 0.06 |
$ — |
$ 0.06 |
|||
|
Diluted earnings (loss) per common share from continuing operations |
19.44 |
(1.17) |
18.27 |
|||
|
Diluted earnings (loss) per common share |
$ 19.50 |
$ (1.17) |
$ 18.33 |
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
|
|
||||||||||||||||||
|
|
||||||||||||||||||
|
(In millions, except per share data) |
||||||||||||||||||
|
|
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
|
SG&A expenses |
$ 1,263.4 |
$ (1.4) |
$ 7.1 |
$ (1.0) |
$ — |
$ (1.8) |
$ (3.4) |
$ — |
$ 1,262.8 |
|||||||||
|
Depreciation and amortization |
$ 58.0 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ (1.4) |
$ 56.6 |
|||||||||
|
Asset impairments |
$ 0.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ — |
$ (0.8) |
$ — |
|||||||||
|
Restructuring charges |
$ 18.7 |
$ — |
$ — |
$ — |
$ (18.7) |
$ — |
$ — |
$ — |
$ — |
|||||||||
|
Income (loss) from operations |
$ 486.9 |
$ 1.4 |
$ (7.1) |
1.0 |
$ 18.7 |
$ 1.8 |
$ 3.4 |
$ 2.1 |
$ 508.3 |
|||||||||
|
Income (loss) before income |
$ 351.4 |
$ 1.4 |
$ (7.1) |
$ 1.0 |
$ 18.7 |
$ 1.8 |
$ 3.4 |
$ 2.1 |
$ 372.8 |
|||||||||
|
Less: Provision (benefit) for |
83.8 |
0.3 |
(1.2) |
— |
3.9 |
0.2 |
0.8 |
0.5 |
88.4 |
|||||||||
|
Net income (loss) from |
267.6 |
1.1 |
(5.9) |
1.0 |
14.8 |
1.6 |
2.6 |
1.6 |
284.4 |
|||||||||
|
Less: Earnings (loss) allocated to |
3.2 |
— |
(0.1) |
— |
0.2 |
— |
— |
— |
3.4 |
|||||||||
|
Net income (loss) from |
$ 264.4 |
$ 1.1 |
$ (5.9) |
$ 1.0 |
$ 14.6 |
$ 1.6 |
$ 2.6 |
$ 1.6 |
$ 281.0 |
|||||||||
|
Diluted earnings (loss) per |
$ 20.40 |
$ 0.08 |
$ (0.45) |
$ 0.08 |
$ 1.13 |
$ 0.12 |
$ 0.20 |
$ 0.12 |
$ 21.68 |
|||||||||
|
Effective tax rate |
23.8 % |
23.7 % |
||||||||||||||||
|
SG&A as % gross profit (1) |
69.1 % |
69.1 % |
||||||||||||||||
|
Operating margin (2) |
4.3 % |
4.5 % |
||||||||||||||||
|
Pretax margin (3) |
3.1 % |
3.3 % |
||||||||||||||||
|
Same Store SG&A expenses |
$ 1,200.0 |
$ (1.4) |
$ — |
$ (1.0) |
$ — |
$ (1.8) |
$ (3.4) |
$ — |
$ 1,192.3 |
|||||||||
|
Same Store SG&A as % gross |
68.7 % |
68.2 % |
||||||||||||||||
|
Same Store income from operations |
$ 489.1 |
$ 1.4 |
$ — |
$ 1.0 |
$ — |
$ 1.8 |
$ 3.4 |
$ 4.4 |
$ 501.1 |
|||||||||
|
Same Store operating margin (2) |
4.6 % |
4.7 % |
||||||||||||||||
|
|
|
|
||||
|
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 |
$ 1.0 |
$ — |
$ 1.0 |
|||
|
Net income |
$ 268.6 |
$ 16.8 |
$ 285.4 |
|||
|
Less: Earnings allocated to participating securities |
3.2 |
0.2 |
3.4 |
|||
|
Net income available to diluted common shares |
$ 265.4 |
$ 16.6 |
$ 282.0 |
|||
|
Diluted earnings per common share from discontinued operations |
$ 0.08 |
$ — |
$ 0.08 |
|||
|
Diluted earnings per common share from continuing operations |
20.40 |
1.28 |
21.68 |
|||
|
Diluted earnings per common share |
$ 20.48 |
$ 1.28 |
$ 21.76 |
|
|
|
|
|
|
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
||||||||||||
|
|
|
|
|
|
|
|||||||
|
SG&A expenses |
$ 444.3 |
$ (2.8) |
$ (1.9) |
$ (0.3) |
$ (1.7) |
$ 437.5 |
||||||
|
SG&A as % gross profit (1) |
67.5 % |
66.4 % |
||||||||||
|
Same Store SG&A expenses |
$ 429.4 |
$ (2.8) |
$ (1.9) |
$ (0.3) |
$ (1.7) |
$ 422.6 |
||||||
|
Same Store SG&A as % gross profit (1) |
67.2 % |
66.1 % |
||||||||||
|
|
||||||||||||
|
|
|
|
|
|
|
|||||||
|
SG&A expenses |
$ 471.6 |
$ (1.4) |
$ (0.6) |
$ (0.7) |
$ (0.8) |
$ 468.0 |
||||||
|
SG&A as % gross profit (1) |
64.7 % |
64.2 % |
||||||||||
|
Same Store SG&A expenses |
$ 446.1 |
$ (1.4) |
$ — |
$ (0.7) |
$ (0.8) |
$ 443.3 |
||||||
|
Same Store SG&A as % gross profit (1) |
64.0 % |
63.6 % |
||||||||||
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
F&I, net |
$ 351.4 |
$ 6.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 358.2 |
||||||||
|
F&I PRU (2) |
$ 2,447 |
$ 2,495 |
||||||||||||||
|
Total gross profit |
$ 1,305.7 |
$ 6.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 1,312.5 |
||||||||
|
SG&A expenses |
$ 862.5 |
$ — |
$ (3.5) |
$ 44.2 |
$ (1.9) |
$ (0.3) |
$ (2.1) |
$ 898.9 |
||||||||
|
SG&A as % gross profit (1) |
66.1 % |
68.5 % |
||||||||||||||
|
Same Store F&I, net |
$ 340.5 |
$ 6.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 347.3 |
||||||||
|
Same Store F&I PRU (2) |
$ 2,456 |
$ 2,505 |
||||||||||||||
|
Same Store total gross profit |
$ 1,256.8 |
$ 6.8 |
$ — |
$ — |
$ — |
$ — |
$ — |
$ 1,263.6 |
||||||||
|
Same Store SG&A expenses |
$ 870.3 |
$ — |
$ (3.5) |
$ — |
$ (1.9) |
$ (0.3) |
$ (2.1) |
$ 862.5 |
||||||||
|
Same Store SG&A as % gross |
69.2 % |
68.3 % |
||||||||||||||
|
|
||||||||||||||
|
|
|
|
|
|
|
|
||||||||
|
SG&A expenses |
$ 919.0 |
$ (1.4) |
$ 7.1 |
$ (1.0) |
$ (0.8) |
$ (3.4) |
$ 919.4 |
|||||||
|
SG&A as % gross profit (1) |
65.5 % |
65.5 % |
||||||||||||
|
Same Store SG&A expenses |
$ 884.5 |
$ (1.4) |
$ — |
$ (1.0) |
$ (0.8) |
$ (3.4) |
$ 877.8 |
|||||||
|
Same Store SG&A as % gross profit (1) |
65.4 % |
64.9 % |
||||||||||||
|
|
|
|
|
|
|||||||||
|
|
|||||||||
|
|
|||||||||
|
(In millions) |
|||||||||
|
|
|||||||||
|
|
|
|
|
||||||
|
SG&A expenses |
$ 179.2 |
$ (6.6) |
$ (0.7) |
$ 171.8 |
|||||
|
SG&A as % gross profit (1) |
88.7 % |
85.0 % |
|||||||
|
Same Store SG&A expenses |
$ 164.3 |
$ — |
$ (0.7) |
$ 163.6 |
|||||
|
Same Store SG&A as % gross profit (1) |
83.5 % |
83.1 % |
|||||||
|
|
|||||||||
|
|
|
|
|
||||||
|
SG&A expenses |
$ 361.5 |
$ (7.0) |
$ (0.7) |
$ 353.9 |
|||||
|
SG&A as % gross profit (1) |
83.5 % |
81.8 % |
|||||||
|
Same Store SG&A expenses |
$ 338.9 |
$ — |
$ (0.7) |
$ 338.2 |
|||||
|
Same Store SG&A as % gross profit (1) |
80.0 % |
79.8 % |
|||||||
|
|
||||||
|
|
|
|
||||
|
SG&A expenses |
$ 344.3 |
$ (1.0) |
$ 343.4 |
|||
|
SG&A as % gross profit (1) |
81.2 % |
81.0 % |
||||
|
Same Store SG&A expenses |
$ 315.5 |
$ (1.0) |
$ 314.5 |
|||
|
Same Store SG&A as % gross profit (1) |
79.8 % |
79.5 % |
||||
|
|
View original content to download multimedia:https://www.prnewswire.com/news-releases/group-1-automotive-reports-second-quarter-2026-financial-results-302838324.html
SOURCE Group 1 Automotive, Inc.
