HOUSTON, Oct. 28, 2021 /PRNewswire/ -- Group 1
Automotive, Inc. (NYSE: GPI), ("Group 1" or the
"Company"), an international, Fortune 500 automotive retailer,
with 191 dealerships located in the U.S., U.K., and Brazil, today reported an all-time record
third quarter 2021 ("current quarter") net income per diluted share
of $9.33, a 36.5% increase from
$6.83 per diluted share as reported
for third quarter 2020 ("prior year quarter").
Current quarter adjusted net income per diluted share (a
non-GAAP measure) was an all-time quarterly record of $9.62, a 38.0% increase from $6.97 adjusted net income per diluted share for
the prior year quarter, and an increase of 219.1% over the
pre-pandemic third quarter of 2019. Current quarter net
income was $172.1 million, a 36.1%
increase compared to net income of $126.4
million in the prior year quarter. Current quarter
adjusted net income (a non-GAAP measure) was $177.5 million, a 37.6% increase compared to
adjusted net income of $129.0 million
for the prior year quarter. The Company's current quarter
total revenues were $3.5 billion, a
15.4% increase compared to total revenues of $3.0 billion in the prior year quarter.
"Continued strong vehicle margins, further improvement in our
service volume, and diligent cost control delivered this quarter's
impressive results," said Earl J.
Hesterberg, Group 1's President and Chief Executive Officer.
"We continue to sell most new vehicles almost immediately upon
manufacturer delivery. Assuming no material change in
consumer demand, this dynamic should continue throughout the fourth
quarter and into 2022. In addition to the recently announced
dealership acquisition in the Dallas and Sacramento markets, we remain on track to
close the purchase of the Prime Auto Group in November."
Current quarter adjusted net income and diluted earnings per
share excluded net after-tax adjustments of $5.4 million, or $0.29 per common share, related to a loss on debt
extinguishment of $3.8 million, or
$0.21 per common share; acquisition
costs of $3.4 million, or
$0.18 per common share; an asset
impairment charge of $1.3 million, or
$0.07 per common share; and hurricane
related losses of $0.4 million or
$0.02 per common share. These
adjustments were partially offset by favorable legal settlements of
$2.9 million, or $0.16 per common share; and a non-cash gain
associated with certain interest rate swaps of $0.7 million, or $0.04 per common share. Prior year quarter
adjusted net income and diluted earnings per share excluded a net
after-tax adjustment related to a loss on debt redemption of
$2.6 million, or $0.14 per common share. Reconciliations of
non-GAAP financial measures are included in the attached financial
tables. Certain disclosures may not compute due to rounding.
Consolidated Operating Highlights for Current Quarter
(year-over-year comparable basis)
Reported:
- Total revenues increased 15.4%, to $3.5
billion.
- Total gross profit increased 27.6%, to $653.2 million.
- New vehicle revenues only decreased 0.3%, despite an 11.9%
decline in units sold, driven by an increase in gross profit per
retail unit (PRU) of 91.8%, to $4,773.
- Used vehicle retail revenues increased 44.0%, driven by a 12.8%
increase in units sold, and an increase in used vehicle retail
gross profit PRU of 23.0%, to $2,279.
- Parts and service gross profit increased 12.3%, on a 13.8%
increase in revenue.
- Finance and Insurance (F&I) gross profit PRU increased
13.9%, to $1,885.
- Selling, General and Administrative (SG&A) expenses as a
percentage of gross profit decreased 77 basis points, to
59.0%. Adjusted SG&A expenses (a non-GAAP measure) as a
percentage of gross profit decreased 96 basis points, to
58.8%.
Same Store on a Constant Currency Basis (a non-GAAP
measure):
- Total revenues increased 11.5%.
- Total gross profit increased 24.6%.
- New vehicle gross profit increased 65.1%, despite a 14.3%
decrease in units sold, driven by an increase in new vehicle gross
profit PRU of 92.7%.
- Used vehicle retail gross profit increased 32.2%, as units sold
increased 9.0%, and used vehicle retail gross profit PRU increased
21.3%.
- Parts and service gross profit increased 10.1%.
- F&I gross profit PRU increased 15.9%.
- SG&A expenses as a percentage of gross profit decreased 98
basis points. Adjusted SG&A expenses as a percentage of
gross profit decreased 116 basis points.
Corporate Development
As previously announced in September
2021, the Company entered into a definitive agreement to
purchase substantially all the assets, including real estate, of
Prime Automotive Group, which includes 30 dealerships and three
collision centers in the Northeastern U.S. In 2020, the
corresponding Prime dealerships generated $1.8 billion in annual revenues. As
previously announced in October 2021,
the Company acquired two dealerships in Texas and one in California, which are expected to generate
approximately $235 million in
annualized revenues.
Year-to-date, Group 1 has completed transactions representing
$655.0 million of acquired annual
revenues, growing the Company's portfolio by 17 franchises.
With the Company's previously announced pending acquisition
of Prime Automotive Group expected to close in November 2021, the Company's total acquired
revenues are expected to be approximately $2.5 billion at the anticipated closing date, and
Group 1's total dealership count would increase to 221 locations
globally, which would include 150 U.S. locations.
Year-to-date, the Company has disposed of four franchises, which
generated approximately $70 million
in trailing-twelve-month revenues.
Third Quarter 2021 Earnings Conference Call Details
Group 1's senior management will host a conference call today at
10 a.m. ET to discuss the third
quarter 2021 financial results. The conference call will be
simulcast live on the Internet at group1auto.com, then click on
'Investor Relations' and then 'Events' or through this link:
group1corp.com/events. A webcast replay will be available for
30 days.
The conference call will also be available live by dialing in 15
minutes prior to the start of the call at:
Domestic:
|
1-888-317-6003
|
International:
|
1-412-317-6061
|
Conference
ID:
|
3636071
|
A telephonic replay will be available following the call through
November 4, 2021 by dialing:
Domestic:
|
1-877-344-7529
|
International:
|
1-412-317-0088
|
Replay
ID:
|
10160522
|
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 191 automotive dealerships,
248 franchises, and 49 collision
centers in the United
States, the United
Kingdom and Brazil that offer 33 brands of
automobiles. Through its dealerships, 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.
Investors please visit group1corp.com, group1auto.com,
group1collision.com, acceleride.com, facebook.com/group1auto, and
twitter.com/group1auto, where Group 1 discloses additional
information about the Company, its business, and its results of
operations.
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, and often contain words such as "expects,"
"anticipates," "intends," "plans," "believes," "seeks," "should,"
"foresee," "may" or "will" and similar expressions. While
management believes that these forward-looking statements are
reasonable as and when made, there can be no assurance that future
developments affecting us will be those that we anticipate. Any
such forward-looking statements are not assurances of future
performance and involve risks and uncertainties that may cause
actual results to differ materially from those set forth in the
statements. These risks and uncertainties include, among other
things, (a) general economic and business conditions, (b) the level
of manufacturer incentives, (c) the future regulatory environment,
(d) our ability to obtain an inventory of desirable new and used
vehicles, (e) our relationship with our automobile manufacturers
and the willingness of manufacturers to approve future
acquisitions, (f) our cost of financing and the availability of
credit for consumers, (g) our ability to complete acquisitions and
dispositions and the risks associated therewith, (h) foreign
exchange controls and currency fluctuations, (i) the impacts of
COVID-19 on our business, (j) the impacts of any potential global
recession, (k) our ability to maintain sufficient liquidity to
operate, (l) the risk that proposed transactions will not be
consummated in a timely manner, (m) risks that any of the closing
conditions to the Prime Acquisition may not be satisfied or may not
be satisfied in a timely manner, and (n) our ability to
successfully integrate recent and future acquisitions. 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, 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:
Sheila
Roth
Manager, Investor Relations
Group 1 Automotive, Inc.
713-647-5741 | sroth@group1auto.com
Media contacts:
Pete
DeLongchamps
Senior Vice President, Manufacturer Relations, Financial Services
and Public Affairs
Group 1 Automotive, Inc.
713-647-5770 | pdelongchamps@group1auto.com
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223 | cwoods@piercom.com
Group 1
Automotive, Inc.
|
Condensed
Consolidated Statements of Operations
|
(Unaudited)
|
(In millions,
except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
2021
|
|
2020
|
|
Increase/(Decrease)
|
|
%
Change
|
REVENUES:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
$
|
1,576.2
|
|
|
$
|
1,580.7
|
|
|
$
|
(4.5)
|
|
|
(0.3)
|
%
|
Used vehicle retail
sales
|
|
1,248.3
|
|
|
867.2
|
|
|
381.1
|
|
|
44.0
|
%
|
Used vehicle wholesale
sales
|
|
109.4
|
|
|
86.7
|
|
|
22.7
|
|
|
26.2
|
%
|
Parts and service
sales
|
|
427.6
|
|
|
375.6
|
|
|
52.0
|
|
|
13.8
|
%
|
Finance, insurance and
other, net
|
|
147.7
|
|
|
129.5
|
|
|
18.2
|
|
|
14.1
|
%
|
Total
revenues
|
|
3,509.2
|
|
|
3,039.6
|
|
|
469.6
|
|
|
15.4
|
%
|
COST OF
SALES:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
1,408.5
|
|
|
1,481.5
|
|
|
(72.9)
|
|
|
(4.9)
|
%
|
Used vehicle retail
sales
|
|
1,149.8
|
|
|
796.1
|
|
|
353.7
|
|
|
44.4
|
%
|
Used vehicle wholesale
sales
|
|
101.8
|
|
|
80.7
|
|
|
21.0
|
|
|
26.0
|
%
|
Parts and service
sales
|
|
195.9
|
|
|
169.4
|
|
|
26.6
|
|
|
15.7
|
%
|
Total cost of
sales
|
|
2,856.0
|
|
|
2,527.7
|
|
|
328.3
|
|
|
13.0
|
%
|
GROSS
PROFIT
|
|
653.2
|
|
|
512.0
|
|
|
141.3
|
|
|
27.6
|
%
|
Selling, general and
administrative expenses
|
|
385.1
|
|
|
305.8
|
|
|
79.3
|
|
|
25.9
|
%
|
Depreciation and
amortization expense
|
|
19.6
|
|
|
19.1
|
|
|
0.5
|
|
|
2.5
|
%
|
Asset
impairments
|
|
1.7
|
|
|
—
|
|
|
1.7
|
|
|
—
|
%
|
INCOME FROM
OPERATIONS
|
|
246.8
|
|
|
187.1
|
|
|
59.7
|
|
|
31.9
|
%
|
Floorplan interest
expense
|
|
4.8
|
|
|
8.1
|
|
|
(3.3)
|
|
|
(40.9)
|
%
|
Other interest
expense, net
|
|
13.2
|
|
|
14.6
|
|
|
(1.5)
|
|
|
(10.1)
|
%
|
Loss on
extinguishment of debt
|
|
3.8
|
|
|
3.3
|
|
|
0.5
|
|
|
15.2
|
%
|
INCOME BEFORE
INCOME TAXES
|
|
225.0
|
|
|
161.0
|
|
|
64.0
|
|
|
39.8
|
%
|
Provision for income
taxes
|
|
52.9
|
|
|
34.6
|
|
|
18.3
|
|
|
53.1
|
%
|
NET
INCOME
|
|
$
|
172.1
|
|
|
$
|
126.4
|
|
|
$
|
45.7
|
|
|
36.1
|
%
|
Less: Earnings
allocated to participating securities
|
|
5.7
|
|
|
4.5
|
|
|
1.2
|
|
|
25.5
|
%
|
Net income available
to diluted common shares
|
|
$
|
166.4
|
|
|
$
|
121.9
|
|
|
$
|
44.5
|
|
|
36.5
|
%
|
DILUTED EARNINGS
PER SHARE
|
|
$
|
9.33
|
|
|
$
|
6.83
|
|
|
$
|
2.50
|
|
|
36.5
|
%
|
Weighted average
dilutive common shares outstanding
|
|
17.8
|
|
|
17.8
|
|
|
—
|
|
|
—
|
%
|
Weighted average
participating securities
|
|
0.6
|
|
|
0.7
|
|
|
(0.1)
|
|
|
(7.7)
|
%
|
Total weighted
average shares
|
|
18.4
|
|
|
18.5
|
|
|
(0.1)
|
|
|
(0.3)
|
%
|
Effective tax
rate
|
|
23.5
|
%
|
|
21.5
|
%
|
|
2.0
|
%
|
|
|
Group 1
Automotive, Inc.
|
Condensed
Consolidated Statements of Operations
|
(Unaudited)
|
(In millions,
except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30,
|
|
|
2021
|
|
2020
|
|
Increase/(Decrease)
|
|
%
Change
|
REVENUES:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
$
|
4,974.9
|
|
|
$
|
3,985.5
|
|
|
$
|
989.3
|
|
|
24.8
|
%
|
Used vehicle retail
sales
|
|
3,342.7
|
|
|
2,287.4
|
|
|
1,055.3
|
|
|
46.1
|
%
|
Used vehicle wholesale
sales
|
|
286.0
|
|
|
221.9
|
|
|
64.1
|
|
|
28.9
|
%
|
Parts and service
sales
|
|
1,180.4
|
|
|
1,028.2
|
|
|
152.2
|
|
|
14.8
|
%
|
Finance, insurance and
other, net
|
|
435.7
|
|
|
338.7
|
|
|
97.1
|
|
|
28.7
|
%
|
Total
revenues
|
|
10,219.7
|
|
|
7,861.7
|
|
|
2,358.0
|
|
|
30.0
|
%
|
COST OF
SALES:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
4,542.9
|
|
|
3,759.7
|
|
|
783.2
|
|
|
20.8
|
%
|
Used vehicle retail
sales
|
|
3,075.5
|
|
|
2,127.9
|
|
|
947.5
|
|
|
44.5
|
%
|
Used vehicle wholesale
sales
|
|
265.3
|
|
|
212.9
|
|
|
52.4
|
|
|
24.6
|
%
|
Parts and service
sales
|
|
530.9
|
|
|
473.9
|
|
|
57.0
|
|
|
12.0
|
%
|
Total cost of
sales
|
|
8,414.5
|
|
|
6,574.4
|
|
|
1,840.1
|
|
|
28.0
|
%
|
GROSS
PROFIT
|
|
1,805.1
|
|
|
1,287.2
|
|
|
517.9
|
|
|
40.2
|
%
|
Selling, general and
administrative expenses
|
|
1,080.3
|
|
|
870.9
|
|
|
209.3
|
|
|
24.0
|
%
|
Depreciation and
amortization expense
|
|
57.9
|
|
|
56.5
|
|
|
1.4
|
|
|
2.4
|
%
|
Asset
impairments
|
|
1.7
|
|
|
23.8
|
|
|
(22.1)
|
|
|
(92.8)
|
%
|
INCOME FROM
OPERATIONS
|
|
665.3
|
|
|
336.0
|
|
|
329.3
|
|
|
98.0
|
%
|
Floorplan interest
expense
|
|
21.2
|
|
|
31.1
|
|
|
(9.9)
|
|
|
(32.0)
|
%
|
Other interest
expense, net
|
|
40.7
|
|
|
49.0
|
|
|
(8.3)
|
|
|
(17.0)
|
%
|
Loss on
extinguishment of debt
|
|
3.8
|
|
|
13.7
|
|
|
(9.9)
|
|
|
(72.0)
|
%
|
INCOME BEFORE
INCOME TAXES
|
|
599.6
|
|
|
242.2
|
|
|
357.4
|
|
|
147.6
|
%
|
Provision for income
taxes
|
|
134.6
|
|
|
55.8
|
|
|
78.8
|
|
|
141.1
|
%
|
NET
INCOME
|
|
$
|
465.0
|
|
|
$
|
186.4
|
|
|
$
|
278.7
|
|
|
149.5
|
%
|
Less: Earnings
allocated to participating securities
|
|
15.6
|
|
|
6.7
|
|
|
8.9
|
|
|
132.8
|
%
|
Net income available
to diluted common shares
|
|
$
|
449.4
|
|
|
$
|
179.7
|
|
|
$
|
269.7
|
|
|
150.1
|
%
|
DILUTED EARNINGS
PER SHARE
|
|
$
|
25.21
|
|
|
$
|
10.08
|
|
|
$
|
15.12
|
|
|
150.0
|
%
|
Weighted average
dilutive common shares outstanding
|
|
17.8
|
|
|
17.8
|
|
|
—
|
|
|
0.1
|
%
|
Weighted average
participating securities
|
|
0.6
|
|
|
0.7
|
|
|
—
|
|
|
(6.8)
|
%
|
Total weighted
average shares
|
|
18.5
|
|
|
18.5
|
|
|
—
|
|
|
(0.2)
|
%
|
Effective tax
rate
|
|
22.4
|
%
|
|
23.1
|
%
|
|
(0.6)
|
%
|
|
|
Group 1
Automotive, Inc.
|
Additional
Information - Consolidated
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2021
|
|
December 31,
2020
|
|
Increase/(Decrease)
|
|
%
Change
|
SELECTED BALANCE
SHEET INFORMATION:
|
|
|
|
|
|
|
(In
millions)
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
296.9
|
|
|
$
|
87.3
|
|
|
$
|
209.7
|
|
|
240.3
|
%
|
Inventories,
net
|
|
$
|
850.8
|
|
|
$
|
1,468.0
|
|
|
$
|
(617.2)
|
|
|
(42.0)
|
%
|
Floorplan notes
payable, net (1)
|
|
$
|
317.9
|
|
|
$
|
1,095.0
|
|
|
$
|
(777.1)
|
|
|
(71.0)
|
%
|
Total debt
|
|
$
|
1,333.9
|
|
|
$
|
1,351.4
|
|
|
$
|
(17.5)
|
|
|
(1.3)
|
%
|
Total
equity
|
|
$
|
1,918.6
|
|
|
$
|
1,449.6
|
|
|
$
|
469.0
|
|
|
32.4
|
%
|
(1)
Amounts are net of offset accounts of $334.7 and $176.4,
respectively.
|
|
|
Three Months Ended
September 30,
|
|
Nine Months Ended
September 30,
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
NEW VEHICLE UNIT
SALES GEOGRAPHIC MIX:
|
|
|
|
|
|
|
United
States
|
|
74.0
|
%
|
|
70.2
|
%
|
|
77.6
|
%
|
|
73.2
|
%
|
United
Kingdom
|
|
21.0
|
%
|
|
26.8
|
%
|
|
18.6
|
%
|
|
23.0
|
%
|
Brazil
|
|
5.0
|
%
|
|
3.0
|
%
|
|
3.8
|
%
|
|
3.8
|
%
|
|
|
|
|
|
|
|
|
|
NEW VEHICLE UNIT
SALES BRAND MIX:
|
|
|
|
|
|
|
Toyota/Lexus
|
|
26.5
|
%
|
|
22.7
|
%
|
|
26.1
|
%
|
|
22.9
|
%
|
Volkswagen/Audi/Porsche/SEAT/SKODA
|
|
16.4
|
%
|
|
17.7
|
%
|
|
15.3
|
%
|
|
15.6
|
%
|
BMW/MINI
|
|
12.6
|
%
|
|
11.8
|
%
|
|
11.6
|
%
|
|
11.4
|
%
|
Honda/Acura
|
|
9.4
|
%
|
|
8.5
|
%
|
|
9.8
|
%
|
|
9.2
|
%
|
Ford/Lincoln
|
|
7.8
|
%
|
|
10.1
|
%
|
|
8.3
|
%
|
|
10.7
|
%
|
Chevrolet/GMC/Buick/Cadillac
|
|
5.9
|
%
|
|
7.1
|
%
|
|
6.6
|
%
|
|
7.4
|
%
|
Nissan
|
|
5.5
|
%
|
|
4.7
|
%
|
|
5.5
|
%
|
|
5.3
|
%
|
Hyundai/Kia/Genesis
|
|
5.1
|
%
|
|
4.3
|
%
|
|
5.2
|
%
|
|
4.4
|
%
|
Mercedes-Benz/smart/Sprinter
|
|
3.9
|
%
|
|
5.3
|
%
|
|
4.5
|
%
|
|
5.3
|
%
|
Chrysler/Dodge/Jeep/RAM
|
|
3.7
|
%
|
|
4.0
|
%
|
|
3.9
|
%
|
|
4.0
|
%
|
Jaguar/Land
Rover
|
|
1.6
|
%
|
|
2.5
|
%
|
|
1.8
|
%
|
|
2.3
|
%
|
Other
|
|
1.5
|
%
|
|
1.3
|
%
|
|
1.4
|
%
|
|
1.5
|
%
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
September 30,
2021
|
|
December 31,
2020
|
|
September 30,
2020
|
DAYS' SUPPLY IN
INVENTORY (1):
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
|
|
New vehicle
inventory
|
|
14
|
|
52
|
|
41
|
Used vehicle
inventory
|
|
30
|
|
37
|
|
35
|
U.S.
|
|
|
|
|
|
|
New vehicle
inventory
|
|
11
|
|
48
|
|
52
|
Used vehicle
inventory
|
|
25
|
|
32
|
|
33
|
U.K.
|
|
|
|
|
|
|
New vehicle
inventory
|
|
19
|
|
102
|
|
20
|
Used vehicle
inventory
|
|
42
|
|
52
|
|
37
|
Brazil
|
|
|
|
|
|
|
New vehicle
inventory
|
|
23
|
|
27
|
|
41
|
Used vehicle
inventory
|
|
49
|
|
51
|
|
44
|
(1) Days'
supply in inventory is calculated based on inventory unit levels
and 30-day total unit sales volumes, both at the end of each
reporting period.
|
Group 1
Automotive, Inc.
|
Reported Operating
Data - Consolidated
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
Three Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
1,576.2
|
|
|
$
|
1,580.7
|
|
|
$
|
(4.5)
|
|
|
(0.3)
|
%
|
|
|
$
|
21.4
|
|
|
(1.6)
|
%
|
Used vehicle retail
sales
|
1,248.3
|
|
|
867.2
|
|
|
381.1
|
|
|
44.0
|
%
|
|
|
21.4
|
|
|
41.5
|
%
|
Used vehicle wholesale
sales
|
109.4
|
|
|
86.7
|
|
|
22.7
|
|
|
26.2
|
%
|
|
|
2.5
|
|
|
23.3
|
%
|
Total
used
|
1,357.7
|
|
|
953.9
|
|
|
403.8
|
|
|
42.3
|
%
|
|
|
23.9
|
|
|
39.8
|
%
|
Parts and service
sales
|
427.6
|
|
|
375.6
|
|
|
52.0
|
|
|
13.8
|
%
|
|
|
4.3
|
|
|
12.7
|
%
|
F&I,
net
|
147.7
|
|
|
129.5
|
|
|
18.2
|
|
|
14.1
|
%
|
|
|
1.0
|
|
|
13.3
|
%
|
Total
revenues
|
$
|
3,509.2
|
|
|
$
|
3,039.6
|
|
|
$
|
469.6
|
|
|
15.4
|
%
|
|
|
$
|
50.8
|
|
|
13.8
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
167.7
|
|
|
$
|
99.2
|
|
|
$
|
68.4
|
|
|
69.0
|
%
|
|
|
$
|
1.5
|
|
|
67.4
|
%
|
Used vehicle retail
sales
|
98.6
|
|
|
71.1
|
|
|
27.5
|
|
|
38.6
|
%
|
|
|
1.5
|
|
|
36.5
|
%
|
Used vehicle wholesale
sales
|
7.6
|
|
|
5.9
|
|
|
1.7
|
|
|
28.1
|
%
|
|
|
0.3
|
|
|
23.4
|
%
|
Total
used
|
106.2
|
|
|
77.0
|
|
|
29.1
|
|
|
37.8
|
%
|
|
|
1.8
|
|
|
35.5
|
%
|
Parts and service
sales
|
231.7
|
|
|
206.2
|
|
|
25.5
|
|
|
12.3
|
%
|
|
|
2.6
|
|
|
11.1
|
%
|
F&I,
net
|
147.7
|
|
|
129.5
|
|
|
18.2
|
|
|
14.1
|
%
|
|
|
1.0
|
|
|
13.3
|
%
|
Total gross
profit
|
$
|
653.2
|
|
|
$
|
512.0
|
|
|
$
|
141.3
|
|
|
27.6
|
%
|
|
|
$
|
7.0
|
|
|
26.2
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
10.6
|
%
|
|
6.3
|
%
|
|
4.4
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
7.9
|
%
|
|
8.2
|
%
|
|
(0.3)
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
7.0
|
%
|
|
6.9
|
%
|
|
0.1
|
%
|
|
|
|
|
|
|
|
Total
used
|
7.8
|
%
|
|
8.1
|
%
|
|
(0.3)
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
54.2
|
%
|
|
54.9
|
%
|
|
(0.7)
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
18.6
|
%
|
|
16.8
|
%
|
|
1.8
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
35,126
|
|
|
39,869
|
|
|
(4,743)
|
|
|
(11.9)
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
43,240
|
|
|
38,347
|
|
|
4,893
|
|
|
12.8
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
11,261
|
|
|
11,581
|
|
|
(320)
|
|
|
(2.8)
|
%
|
|
|
|
|
|
Total
used
|
54,501
|
|
|
49,928
|
|
|
4,573
|
|
|
9.2
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
44,872
|
|
|
$
|
39,647
|
|
|
$
|
5,226
|
|
|
13.2
|
%
|
|
|
$
|
609
|
|
|
11.6
|
%
|
Used vehicle
retail
|
$
|
28,870
|
|
|
$
|
22,614
|
|
|
$
|
6,256
|
|
|
27.7
|
%
|
|
|
$
|
494
|
|
|
25.5
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
4,773
|
|
|
$
|
2,489
|
|
|
$
|
2,285
|
|
|
91.8
|
%
|
|
|
$
|
43
|
|
|
90.1
|
%
|
Used vehicle retail
sales
|
$
|
2,279
|
|
|
$
|
1,854
|
|
|
$
|
425
|
|
|
23.0
|
%
|
|
|
$
|
36
|
|
|
21.0
|
%
|
Used vehicle wholesale
sales
|
$
|
676
|
|
|
$
|
513
|
|
|
$
|
163
|
|
|
31.7
|
%
|
|
|
$
|
25
|
|
|
26.9
|
%
|
Total
used
|
$
|
1,948
|
|
|
$
|
1,543
|
|
|
$
|
405
|
|
|
26.3
|
%
|
|
|
$
|
33
|
|
|
24.1
|
%
|
F&I PRU
|
$
|
1,885
|
|
|
$
|
1,655
|
|
|
$
|
229
|
|
|
13.9
|
%
|
|
|
$
|
13
|
|
|
13.1
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
385.1
|
|
|
$
|
305.8
|
|
|
$
|
79.3
|
|
|
25.9
|
%
|
|
|
$
|
4.5
|
|
|
24.5
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
383.9
|
|
|
$
|
305.8
|
|
|
$
|
78.1
|
|
|
25.5
|
%
|
|
|
$
|
4.5
|
|
|
24.1
|
%
|
SG&A as % gross
profit
|
59.0
|
%
|
|
59.7
|
%
|
|
(0.8)
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
58.8
|
%
|
|
59.7
|
%
|
|
(1.0)
|
%
|
|
|
|
|
|
|
|
Operating margin
%
|
7.0
|
%
|
|
6.2
|
%
|
|
0.9
|
%
|
|
|
|
|
|
|
|
Adjusted operating
margin % (1)
|
7.1
|
%
|
|
6.2
|
%
|
|
1.0
|
%
|
|
|
|
|
|
|
|
Pretax margin
%
|
6.4
|
%
|
|
5.3
|
%
|
|
1.1
|
%
|
|
|
|
|
|
|
|
Adjusted pretax margin
% (1)
|
6.6
|
%
|
|
5.4
|
%
|
|
1.2
|
%
|
|
|
|
|
|
|
|
Floorplan
expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
$
|
4.8
|
|
|
$
|
8.1
|
|
|
$
|
(3.3)
|
|
|
(40.9)
|
%
|
|
|
$
|
0.1
|
|
|
(42.4)
|
%
|
Less: Floorplan
assistance (2)
|
12.2
|
|
|
12.7
|
|
|
(0.5)
|
|
|
(4.0)
|
%
|
|
|
—
|
|
|
(4.0)
|
%
|
Net floorplan
expense
|
$
|
(7.4)
|
|
|
$
|
(4.6)
|
|
|
$
|
(2.8)
|
|
|
|
|
|
$
|
0.1
|
|
|
|
Adjusted floorplan
interest expense (1)
|
$
|
5.7
|
|
|
$
|
8.1
|
|
|
$
|
(2.4)
|
|
|
(30.0)
|
%
|
|
|
$
|
0.1
|
|
|
(31.5)
|
%
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
(2)
Floorplan assistance is included within New vehicle retail Gross
profit above and New vehicle retail Cost of sales in our Condensed
Consolidated Statements of Operations.
|
Group 1
Automotive, Inc.
|
Reported Operating
Data - Consolidated
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
Nine Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
4,974.9
|
|
|
$
|
3,985.5
|
|
|
$
|
989.3
|
|
|
24.8
|
%
|
|
|
$
|
57.2
|
|
|
23.4
|
%
|
Used vehicle retail
sales
|
3,342.7
|
|
|
2,287.4
|
|
|
1,055.3
|
|
|
46.1
|
%
|
|
|
58.3
|
|
|
43.6
|
%
|
Used vehicle wholesale
sales
|
286.0
|
|
|
221.9
|
|
|
64.1
|
|
|
28.9
|
%
|
|
|
6.9
|
|
|
25.8
|
%
|
Total
used
|
3,628.7
|
|
|
2,509.3
|
|
|
1,119.4
|
|
|
44.6
|
%
|
|
|
65.2
|
|
|
42.0
|
%
|
Parts and service
sales
|
1,180.4
|
|
|
1,028.2
|
|
|
152.2
|
|
|
14.8
|
%
|
|
|
10.8
|
|
|
13.7
|
%
|
F&I,
net
|
435.7
|
|
|
338.7
|
|
|
97.1
|
|
|
28.7
|
%
|
|
|
2.9
|
|
|
27.8
|
%
|
Total
revenues
|
$
|
10,219.7
|
|
|
$
|
7,861.7
|
|
|
$
|
2,358.0
|
|
|
30.0
|
%
|
|
|
$
|
136.9
|
|
|
28.3
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
432.0
|
|
|
$
|
225.8
|
|
|
$
|
206.2
|
|
|
91.3
|
%
|
|
|
$
|
3.4
|
|
|
89.8
|
%
|
Used vehicle retail
sales
|
267.3
|
|
|
159.5
|
|
|
107.8
|
|
|
67.6
|
%
|
|
|
3.7
|
|
|
65.2
|
%
|
Used vehicle wholesale
sales
|
20.7
|
|
|
9.0
|
|
|
11.7
|
|
|
130.3
|
%
|
|
|
0.4
|
|
|
125.4
|
%
|
Total
used
|
287.9
|
|
|
168.5
|
|
|
119.5
|
|
|
70.9
|
%
|
|
|
4.2
|
|
|
68.4
|
%
|
Parts and service
sales
|
649.5
|
|
|
554.2
|
|
|
95.2
|
|
|
17.2
|
%
|
|
|
6.8
|
|
|
15.9
|
%
|
F&I,
net
|
435.7
|
|
|
338.7
|
|
|
97.1
|
|
|
28.7
|
%
|
|
|
2.9
|
|
|
27.8
|
%
|
Total gross
profit
|
$
|
1,805.1
|
|
|
$
|
1,287.2
|
|
|
$
|
517.9
|
|
|
40.2
|
%
|
|
|
$
|
17.3
|
|
|
38.9
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
8.7
|
%
|
|
5.7
|
%
|
|
3.0
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
8.0
|
%
|
|
7.0
|
%
|
|
1.0
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
7.2
|
%
|
|
4.0
|
%
|
|
3.2
|
%
|
|
|
|
|
|
|
|
Total
used
|
7.9
|
%
|
|
6.7
|
%
|
|
1.2
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
55.0
|
%
|
|
53.9
|
%
|
|
1.1
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
17.7
|
%
|
|
16.4
|
%
|
|
1.3
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
114,882
|
|
|
101,701
|
|
|
13,181
|
|
|
13.0
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
126,301
|
|
|
105,665
|
|
|
20,636
|
|
|
19.5
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
32,038
|
|
|
30,970
|
|
|
1,068
|
|
|
3.4
|
%
|
|
|
|
|
|
Total
used
|
158,339
|
|
|
136,635
|
|
|
21,704
|
|
|
15.9
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
43,304
|
|
|
$
|
39,189
|
|
|
$
|
4,115
|
|
|
10.5
|
%
|
|
|
$
|
498
|
|
|
9.2
|
%
|
Used vehicle
retail
|
$
|
26,466
|
|
|
$
|
21,648
|
|
|
$
|
4,818
|
|
|
22.3
|
%
|
|
|
$
|
462
|
|
|
20.1
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
3,760
|
|
|
$
|
2,220
|
|
|
$
|
1,540
|
|
|
69.3
|
%
|
|
|
$
|
29
|
|
|
68.0
|
%
|
Used vehicle retail
sales
|
$
|
2,116
|
|
|
$
|
1,510
|
|
|
$
|
607
|
|
|
40.2
|
%
|
|
|
$
|
29
|
|
|
38.2
|
%
|
Used vehicle wholesale
sales
|
$
|
645
|
|
|
$
|
290
|
|
|
$
|
355
|
|
|
122.6
|
%
|
|
|
$
|
14
|
|
|
117.9
|
%
|
Total
used
|
$
|
1,819
|
|
|
$
|
1,233
|
|
|
$
|
585
|
|
|
47.5
|
%
|
|
|
$
|
26
|
|
|
45.3
|
%
|
F&I PRU
|
$
|
1,807
|
|
|
$
|
1,633
|
|
|
$
|
174
|
|
|
10.6
|
%
|
|
|
$
|
12
|
|
|
9.9
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
1,080.3
|
|
|
$
|
870.9
|
|
|
$
|
209.3
|
|
|
24.0
|
%
|
|
|
$
|
11.7
|
|
|
22.7
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
1,078.9
|
|
|
$
|
858.3
|
|
|
$
|
220.7
|
|
|
25.7
|
%
|
|
|
$
|
11.6
|
|
|
24.4
|
%
|
SG&A as % gross
profit
|
59.8
|
%
|
|
67.7
|
%
|
|
(7.8)
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
59.8
|
%
|
|
66.7
|
%
|
|
(6.9)
|
%
|
|
|
|
|
|
|
|
Operating margin
%
|
6.5
|
%
|
|
4.3
|
%
|
|
2.2
|
%
|
|
|
|
|
|
|
|
Adjusted operating
margin % (1)
|
6.5
|
%
|
|
4.7
|
%
|
|
1.8
|
%
|
|
|
|
|
|
|
|
Pretax margin
%
|
5.9
|
%
|
|
3.1
|
%
|
|
2.8
|
%
|
|
|
|
|
|
|
|
Adjusted pretax margin
% (1)
|
5.9
|
%
|
|
3.7
|
%
|
|
2.2
|
%
|
|
|
|
|
|
|
|
Floorplan
expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
$
|
21.2
|
|
|
$
|
31.1
|
|
|
$
|
(9.9)
|
|
|
(32.0)
|
%
|
|
|
$
|
0.3
|
|
|
(33.1)
|
%
|
Less: Floorplan
assistance (2)
|
40.6
|
|
|
33.0
|
|
|
7.6
|
|
|
22.9
|
%
|
|
|
—
|
|
|
22.9
|
%
|
Net floorplan
expense
|
$
|
(19.5)
|
|
|
$
|
(1.9)
|
|
|
$
|
(17.5)
|
|
|
|
|
|
$
|
0.3
|
|
|
|
Adjusted floorplan
interest expense (1)
|
$
|
19.7
|
|
|
$
|
31.1
|
|
|
$
|
(11.4)
|
|
|
(36.6)
|
%
|
|
|
$
|
0.3
|
|
|
(37.7)
|
%
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
(2)
Floorplan assistance is included within New vehicle retail Gross
profit above and New vehicle retail Cost of sales in our Condensed
Consolidated Statements of Operations.
|
Group 1
Automotive, Inc.
|
Reported Operating
Data - U.S.
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
2021
|
|
2020
|
|
Increase/(Decrease)
|
|
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
$
|
1,208.5
|
|
|
$
|
1,172.2
|
|
|
$
|
36.3
|
|
|
3.1
|
%
|
Used vehicle retail
sales
|
|
902.3
|
|
|
608.2
|
|
|
294.1
|
|
|
48.4
|
%
|
Used vehicle wholesale
sales
|
|
68.0
|
|
|
44.8
|
|
|
23.2
|
|
|
51.8
|
%
|
Total
used
|
|
970.3
|
|
|
653.0
|
|
|
317.4
|
|
|
48.6
|
%
|
Parts and service
sales
|
|
353.1
|
|
|
306.4
|
|
|
46.7
|
|
|
15.3
|
%
|
F&I,
net
|
|
130.5
|
|
|
113.0
|
|
|
17.4
|
|
|
15.4
|
%
|
Total
revenues
|
|
$
|
2,662.4
|
|
|
$
|
2,244.6
|
|
|
$
|
417.8
|
|
|
18.6
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
$
|
140.0
|
|
|
$
|
79.8
|
|
|
$
|
60.2
|
|
|
75.5
|
%
|
Used vehicle retail
sales
|
|
73.1
|
|
|
52.8
|
|
|
20.2
|
|
|
38.3
|
%
|
Used vehicle wholesale
sales
|
|
3.2
|
|
|
3.7
|
|
|
(0.5)
|
|
|
(13.6)
|
%
|
Total
used
|
|
76.3
|
|
|
56.6
|
|
|
19.7
|
|
|
34.9
|
%
|
Parts and service
sales
|
|
188.2
|
|
|
166.3
|
|
|
21.9
|
|
|
13.2
|
%
|
F&I,
net
|
|
130.5
|
|
|
113.0
|
|
|
17.4
|
|
|
15.4
|
%
|
Total gross
profit
|
|
$
|
535.0
|
|
|
$
|
415.7
|
|
|
$
|
119.3
|
|
|
28.7
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
11.6
|
%
|
|
6.8
|
%
|
|
4.8
|
%
|
|
|
Used vehicle retail
sales
|
|
8.1
|
%
|
|
8.7
|
%
|
|
(0.6)
|
%
|
|
|
Used vehicle wholesale
sales
|
|
4.8
|
%
|
|
8.3
|
%
|
|
(3.6)
|
%
|
|
|
Total
used
|
|
7.9
|
%
|
|
8.7
|
%
|
|
(0.8)
|
%
|
|
|
Parts and service
sales
|
|
53.3
|
%
|
|
54.3
|
%
|
|
(1.0)
|
%
|
|
|
Total gross
margin
|
|
20.1
|
%
|
|
18.5
|
%
|
|
1.6
|
%
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
|
25,984
|
|
|
27,980
|
|
|
(1,996)
|
|
|
(7.1)
|
%
|
Retail used vehicles
sold
|
|
31,704
|
|
|
27,694
|
|
|
4,010
|
|
|
14.5
|
%
|
Wholesale used
vehicles sold
|
|
6,758
|
|
|
6,195
|
|
|
563
|
|
|
9.1
|
%
|
Total
used
|
|
38,462
|
|
|
33,889
|
|
|
4,573
|
|
|
13.5
|
%
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
|
$
|
46,510
|
|
|
$
|
41,895
|
|
|
$
|
4,614
|
|
|
11.0
|
%
|
Used vehicle
retail
|
|
$
|
28,461
|
|
|
$
|
21,961
|
|
|
$
|
6,500
|
|
|
29.6
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
$
|
5,388
|
|
|
$
|
2,852
|
|
|
$
|
2,536
|
|
|
88.9
|
%
|
Used vehicle retail
sales
|
|
$
|
2,305
|
|
|
$
|
1,908
|
|
|
$
|
397
|
|
|
20.8
|
%
|
Used vehicle wholesale
sales
|
|
$
|
478
|
|
|
$
|
603
|
|
|
$
|
(125)
|
|
|
(20.8)
|
%
|
Total
used
|
|
$
|
1,984
|
|
|
$
|
1,669
|
|
|
$
|
315
|
|
|
18.9
|
%
|
F&I PRU
|
|
$
|
2,261
|
|
|
$
|
2,030
|
|
|
$
|
231
|
|
|
11.4
|
%
|
Other:
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
|
$
|
308.7
|
|
|
$
|
245.2
|
|
|
$
|
63.5
|
|
|
25.9
|
%
|
Adjusted SG&A
expenses (1)
|
|
$
|
308.1
|
|
|
$
|
245.2
|
|
|
$
|
62.8
|
|
|
25.6
|
%
|
SG&A as % gross
profit
|
|
57.7
|
%
|
|
59.0
|
%
|
|
(1.3)
|
%
|
|
|
Adjusted SG&A as %
gross profit (1)
|
|
57.6
|
%
|
|
59.0
|
%
|
|
(1.4)
|
%
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
Group 1
Automotive, Inc.
|
Reported Operating
Data - U.S.
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30,
|
|
|
2021
|
|
2020
|
|
Increase/(Decrease)
|
|
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
$
|
3,958.9
|
|
|
$
|
3,076.3
|
|
|
$
|
882.6
|
|
|
28.7
|
%
|
Used vehicle retail
sales
|
|
2,481.7
|
|
|
1,719.4
|
|
|
762.3
|
|
|
44.3
|
%
|
Used vehicle wholesale
sales
|
|
179.6
|
|
|
122.1
|
|
|
57.5
|
|
|
47.0
|
%
|
Total
used
|
|
2,661.3
|
|
|
1,841.5
|
|
|
819.8
|
|
|
44.5
|
%
|
Parts and service
sales
|
|
982.0
|
|
|
865.2
|
|
|
116.8
|
|
|
13.5
|
%
|
F&I,
net
|
|
389.4
|
|
|
300.2
|
|
|
89.2
|
|
|
29.7
|
%
|
Total
revenues
|
|
$
|
7,991.6
|
|
|
$
|
6,083.3
|
|
|
$
|
1,908.4
|
|
|
31.4
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
$
|
362.6
|
|
|
$
|
183.6
|
|
|
$
|
179.0
|
|
|
97.5
|
%
|
Used vehicle retail
sales
|
|
210.7
|
|
|
125.7
|
|
|
85.0
|
|
|
67.6
|
%
|
Used vehicle wholesale
sales
|
|
13.6
|
|
|
6.2
|
|
|
7.4
|
|
|
119.9
|
%
|
Total
used
|
|
224.3
|
|
|
131.9
|
|
|
92.4
|
|
|
70.0
|
%
|
Parts and service
sales
|
|
535.1
|
|
|
465.4
|
|
|
69.7
|
|
|
15.0
|
%
|
F&I,
net
|
|
389.4
|
|
|
300.2
|
|
|
89.2
|
|
|
29.7
|
%
|
Total gross
profit
|
|
$
|
1,511.4
|
|
|
$
|
1,081.1
|
|
|
$
|
430.3
|
|
|
39.8
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
9.2
|
%
|
|
6.0
|
%
|
|
3.2
|
%
|
|
|
Used vehicle retail
sales
|
|
8.5
|
%
|
|
7.3
|
%
|
|
1.2
|
%
|
|
|
Used vehicle wholesale
sales
|
|
7.6
|
%
|
|
5.0
|
%
|
|
2.5
|
%
|
|
|
Total
used
|
|
8.4
|
%
|
|
7.2
|
%
|
|
1.3
|
%
|
|
|
Parts and service
sales
|
|
54.5
|
%
|
|
53.8
|
%
|
|
0.7
|
%
|
|
|
Total gross
margin
|
|
18.9
|
%
|
|
17.8
|
%
|
|
1.1
|
%
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
|
89,183
|
|
|
74,412
|
|
|
14,771
|
|
|
19.9
|
%
|
Retail used vehicles
sold
|
|
96,143
|
|
|
81,494
|
|
|
14,649
|
|
|
18.0
|
%
|
Wholesale used
vehicles sold
|
|
19,804
|
|
|
18,372
|
|
|
1,432
|
|
|
7.8
|
%
|
Total
used
|
|
115,947
|
|
|
99,866
|
|
|
16,081
|
|
|
16.1
|
%
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
|
$
|
44,391
|
|
|
$
|
41,342
|
|
|
$
|
3,049
|
|
|
7.4
|
%
|
Used vehicle
retail
|
|
$
|
25,813
|
|
|
$
|
21,099
|
|
|
$
|
4,714
|
|
|
22.3
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
|
$
|
4,066
|
|
|
$
|
2,467
|
|
|
$
|
1,599
|
|
|
64.8
|
%
|
Used vehicle retail
sales
|
|
$
|
2,192
|
|
|
$
|
1,543
|
|
|
$
|
649
|
|
|
42.1
|
%
|
Used vehicle wholesale
sales
|
|
$
|
685
|
|
|
$
|
336
|
|
|
$
|
349
|
|
|
104.0
|
%
|
Total
used
|
|
$
|
1,934
|
|
|
$
|
1,321
|
|
|
$
|
614
|
|
|
46.5
|
%
|
F&I PRU
|
|
$
|
2,101
|
|
|
$
|
1,926
|
|
|
$
|
176
|
|
|
9.1
|
%
|
Other:
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
|
$
|
883.0
|
|
|
$
|
706.0
|
|
|
$
|
177.0
|
|
|
25.1
|
%
|
Adjusted SG&A
expenses (1)
|
|
$
|
882.8
|
|
|
$
|
695.4
|
|
|
$
|
187.3
|
|
|
26.9
|
%
|
SG&A as % gross
profit
|
|
58.4
|
%
|
|
65.3
|
%
|
|
(6.9)
|
%
|
|
|
Adjusted SG&A as %
gross profit (1)
|
|
58.4
|
%
|
|
64.3
|
%
|
|
(5.9)
|
%
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
Group 1
Automotive, Inc.
|
Reported Operating
Data - U.K.
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
Three Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
305.4
|
|
|
$
|
376.6
|
|
|
$
|
(71.2)
|
|
|
(18.9)
|
%
|
|
|
$
|
19.8
|
|
|
(24.2)
|
%
|
Used vehicle retail
sales
|
328.0
|
|
|
248.1
|
|
|
80.0
|
|
|
32.2
|
%
|
|
|
20.9
|
|
|
23.8
|
%
|
Used vehicle wholesale
sales
|
38.1
|
|
|
39.5
|
|
|
(1.4)
|
|
|
(3.6)
|
%
|
|
|
2.4
|
|
|
(9.8)
|
%
|
Total
used
|
366.1
|
|
|
287.6
|
|
|
78.5
|
|
|
27.3
|
%
|
|
|
23.3
|
|
|
19.2
|
%
|
Parts and service
sales
|
63.4
|
|
|
61.3
|
|
|
2.1
|
|
|
3.4
|
%
|
|
|
4.0
|
|
|
(3.2)
|
%
|
F&I,
net
|
15.6
|
|
|
15.4
|
|
|
0.2
|
|
|
1.4
|
%
|
|
|
1.0
|
|
|
(5.1)
|
%
|
Total
revenues
|
$
|
750.4
|
|
|
$
|
740.8
|
|
|
$
|
9.6
|
|
|
1.3
|
%
|
|
|
$
|
48.2
|
|
|
(5.2)
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
21.5
|
|
|
$
|
16.8
|
|
|
$
|
4.7
|
|
|
27.9
|
%
|
|
|
$
|
1.4
|
|
|
19.7
|
%
|
Used vehicle retail
sales
|
23.9
|
|
|
17.2
|
|
|
6.7
|
|
|
39.0
|
%
|
|
|
1.5
|
|
|
30.3
|
%
|
Used vehicle wholesale
sales
|
4.1
|
|
|
2.0
|
|
|
2.1
|
|
|
106.1
|
%
|
|
|
0.3
|
|
|
92.7
|
%
|
Total
used
|
28.1
|
|
|
19.2
|
|
|
8.9
|
|
|
46.0
|
%
|
|
|
1.8
|
|
|
36.8
|
%
|
Parts and service
sales
|
38.5
|
|
|
36.2
|
|
|
2.3
|
|
|
6.3
|
%
|
|
|
2.5
|
|
|
(0.5)
|
%
|
F&I,
net
|
15.6
|
|
|
15.4
|
|
|
0.2
|
|
|
1.4
|
%
|
|
|
1.0
|
|
|
(5.1)
|
%
|
Total gross
profit
|
$
|
103.7
|
|
|
$
|
87.6
|
|
|
$
|
16.0
|
|
|
18.3
|
%
|
|
|
$
|
6.6
|
|
|
10.8
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
7.0
|
%
|
|
4.5
|
%
|
|
2.6
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
7.3
|
%
|
|
6.9
|
%
|
|
0.4
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
10.9
|
%
|
|
5.1
|
%
|
|
5.8
|
%
|
|
|
|
|
|
|
|
Total
used
|
7.7
|
%
|
|
6.7
|
%
|
|
1.0
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
60.8
|
%
|
|
59.1
|
%
|
|
1.6
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
13.8
|
%
|
|
11.8
|
%
|
|
2.0
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
7,381
|
|
|
10,689
|
|
|
(3,308)
|
|
|
(30.9)
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
10,810
|
|
|
10,101
|
|
|
709
|
|
|
7.0
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
4,202
|
|
|
5,104
|
|
|
(902)
|
|
|
(17.7)
|
%
|
|
|
|
|
|
Total
used
|
15,012
|
|
|
15,205
|
|
|
(193)
|
|
|
(1.3)
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
41,370
|
|
|
$
|
35,230
|
|
|
$
|
6,140
|
|
|
17.4
|
%
|
|
|
$
|
2,677
|
|
|
9.8
|
%
|
Used vehicle
retail
|
$
|
30,346
|
|
|
$
|
24,561
|
|
|
$
|
5,785
|
|
|
23.6
|
%
|
|
|
$
|
1,932
|
|
|
15.7
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
2,910
|
|
|
$
|
1,571
|
|
|
$
|
1,338
|
|
|
85.2
|
%
|
|
|
$
|
185
|
|
|
73.4
|
%
|
Used vehicle retail
sales
|
$
|
2,215
|
|
|
$
|
1,706
|
|
|
$
|
509
|
|
|
29.9
|
%
|
|
|
$
|
139
|
|
|
21.7
|
%
|
Used vehicle wholesale
sales
|
$
|
987
|
|
|
$
|
394
|
|
|
$
|
593
|
|
|
NM
|
|
|
|
$
|
64
|
|
|
134.0
|
%
|
Total
used
|
$
|
1,872
|
|
|
$
|
1,266
|
|
|
$
|
606
|
|
|
47.9
|
%
|
|
|
$
|
118
|
|
|
38.6
|
%
|
F&I PRU
|
$
|
857
|
|
|
$
|
739
|
|
|
$
|
117
|
|
|
15.9
|
%
|
|
|
$
|
55
|
|
|
8.5
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
67.6
|
|
|
$
|
53.7
|
|
|
$
|
13.9
|
|
|
25.9
|
%
|
|
|
$
|
4.2
|
|
|
18.0
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
67.0
|
|
|
$
|
53.7
|
|
|
$
|
13.3
|
|
|
24.9
|
%
|
|
|
$
|
4.2
|
|
|
17.0
|
%
|
SG&A as % gross
profit
|
65.2
|
%
|
|
61.2
|
%
|
|
3.9
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
64.6
|
%
|
|
61.2
|
%
|
|
3.4
|
%
|
|
|
|
|
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
NM — Not
Meaningful
|
Group 1
Automotive, Inc.
|
Reported Operating
Data - U.K.
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
869.7
|
|
|
$
|
800.1
|
|
|
$
|
69.6
|
|
|
8.7
|
%
|
|
|
$
|
70.1
|
|
|
(0.1)
|
%
|
Used vehicle retail
sales
|
820.5
|
|
|
529.7
|
|
|
290.8
|
|
|
54.9
|
%
|
|
|
62.0
|
|
|
43.2
|
%
|
Used vehicle wholesale
sales
|
98.4
|
|
|
90.6
|
|
|
7.8
|
|
|
8.7
|
%
|
|
|
7.4
|
|
|
0.5
|
%
|
Total
used
|
919.0
|
|
|
620.3
|
|
|
298.7
|
|
|
48.1
|
%
|
|
|
69.4
|
|
|
37.0
|
%
|
Parts and service
sales
|
170.2
|
|
|
139.5
|
|
|
30.6
|
|
|
22.0
|
%
|
|
|
12.8
|
|
|
12.8
|
%
|
F&I,
net
|
41.9
|
|
|
35.1
|
|
|
6.8
|
|
|
19.5
|
%
|
|
|
3.3
|
|
|
10.0
|
%
|
Total
revenues
|
$
|
2,000.7
|
|
|
$
|
1,595.0
|
|
|
$
|
405.7
|
|
|
25.4
|
%
|
|
|
$
|
156.2
|
|
|
15.6
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
54.6
|
|
|
$
|
34.7
|
|
|
$
|
19.9
|
|
|
57.4
|
%
|
|
|
$
|
4.5
|
|
|
44.4
|
%
|
Used vehicle retail
sales
|
52.9
|
|
|
31.3
|
|
|
21.7
|
|
|
69.3
|
%
|
|
|
4.0
|
|
|
56.6
|
%
|
Used vehicle wholesale
sales
|
6.5
|
|
|
2.3
|
|
|
4.2
|
|
|
NM
|
|
|
|
0.5
|
|
|
NM
|
|
Total
used
|
59.5
|
|
|
33.6
|
|
|
25.8
|
|
|
76.9
|
%
|
|
|
4.4
|
|
|
63.7
|
%
|
Parts and service
sales
|
102.1
|
|
|
78.5
|
|
|
23.6
|
|
|
30.1
|
%
|
|
|
7.7
|
|
|
20.3
|
%
|
F&I,
net
|
41.9
|
|
|
35.1
|
|
|
6.8
|
|
|
19.5
|
%
|
|
|
3.3
|
|
|
10.0
|
%
|
Total gross
profit
|
$
|
258.1
|
|
|
$
|
181.9
|
|
|
$
|
76.2
|
|
|
41.9
|
%
|
|
|
$
|
19.9
|
|
|
30.9
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
6.3
|
%
|
|
4.3
|
%
|
|
1.9
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
6.5
|
%
|
|
5.9
|
%
|
|
0.5
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
6.6
|
%
|
|
2.6
|
%
|
|
4.0
|
%
|
|
|
|
|
|
|
|
Total
used
|
6.5
|
%
|
|
5.4
|
%
|
|
1.1
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
60.0
|
%
|
|
56.3
|
%
|
|
3.7
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
12.9
|
%
|
|
11.4
|
%
|
|
1.5
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
21,316
|
|
|
23,424
|
|
|
(2,108)
|
|
|
(9.0)
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
28,416
|
|
|
22,165
|
|
|
6,251
|
|
|
28.2
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
11,464
|
|
|
11,517
|
|
|
(53)
|
|
|
(0.5)
|
%
|
|
|
|
|
|
Total
used
|
39,880
|
|
|
33,682
|
|
|
6,198
|
|
|
18.4
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
40,800
|
|
|
$
|
34,157
|
|
|
$
|
6,644
|
|
|
19.5
|
%
|
|
|
$
|
3,288
|
|
|
9.8
|
%
|
Used vehicle
retail
|
$
|
28,876
|
|
|
$
|
23,899
|
|
|
$
|
4,977
|
|
|
20.8
|
%
|
|
|
$
|
2,181
|
|
|
11.7
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
2,563
|
|
|
$
|
1,482
|
|
|
$
|
1,081
|
|
|
72.9
|
%
|
|
|
$
|
211
|
|
|
58.7
|
%
|
Used vehicle retail
sales
|
$
|
1,863
|
|
|
$
|
1,411
|
|
|
$
|
452
|
|
|
32.0
|
%
|
|
|
$
|
140
|
|
|
22.1
|
%
|
Used vehicle wholesale
sales
|
$
|
568
|
|
|
$
|
203
|
|
|
$
|
365
|
|
|
NM
|
|
|
|
$
|
41
|
|
|
NM
|
|
Total
used
|
$
|
1,491
|
|
|
$
|
998
|
|
|
$
|
493
|
|
|
49.4
|
%
|
|
|
$
|
111
|
|
|
38.2
|
%
|
F&I PRU
|
$
|
842
|
|
|
$
|
769
|
|
|
$
|
73
|
|
|
9.5
|
%
|
|
|
$
|
67
|
|
|
0.8
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
173.3
|
|
|
$
|
141.8
|
|
|
$
|
31.4
|
|
|
22.2
|
%
|
|
|
$
|
13.5
|
|
|
12.6
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
172.1
|
|
|
$
|
140.6
|
|
|
$
|
31.5
|
|
|
22.4
|
%
|
|
|
$
|
13.4
|
|
|
12.9
|
%
|
SG&A as % gross
profit
|
67.1
|
%
|
|
78.0
|
%
|
|
(10.8)
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
66.7
|
%
|
|
77.3
|
%
|
|
(10.6)
|
%
|
|
|
|
|
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
NM — Not
Meaningful
|
Group 1
Automotive, Inc.
|
Reported Operating
Data - Brazil
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
62.3
|
|
|
$
|
31.9
|
|
|
$
|
30.5
|
|
|
95.6
|
%
|
|
|
$
|
1.6
|
|
|
90.5
|
%
|
Used vehicle retail
sales
|
18.0
|
|
|
10.9
|
|
|
7.0
|
|
|
64.6
|
%
|
|
|
0.5
|
|
|
60.3
|
%
|
Used vehicle wholesale
sales
|
3.3
|
|
|
2.4
|
|
|
0.9
|
|
|
36.7
|
%
|
|
|
0.1
|
|
|
33.2
|
%
|
Total
used
|
21.3
|
|
|
13.4
|
|
|
7.9
|
|
|
59.5
|
%
|
|
|
0.6
|
|
|
55.3
|
%
|
Parts and service
sales
|
11.1
|
|
|
8.0
|
|
|
3.2
|
|
|
39.9
|
%
|
|
|
0.3
|
|
|
36.2
|
%
|
F&I,
net
|
1.7
|
|
|
1.1
|
|
|
0.6
|
|
|
54.5
|
%
|
|
|
—
|
|
|
50.1
|
%
|
Total
revenues
|
$
|
96.4
|
|
|
$
|
54.3
|
|
|
$
|
42.2
|
|
|
77.7
|
%
|
|
|
$
|
2.5
|
|
|
73.0
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
6.2
|
|
|
$
|
2.6
|
|
|
$
|
3.5
|
|
|
134.6
|
%
|
|
|
$
|
0.2
|
|
|
128.6
|
%
|
Used vehicle retail
sales
|
1.5
|
|
|
1.0
|
|
|
0.5
|
|
|
49.4
|
%
|
|
|
—
|
|
|
45.2
|
%
|
Used vehicle wholesale
sales
|
0.2
|
|
|
0.2
|
|
|
—
|
|
|
21.5
|
%
|
|
|
—
|
|
|
18.1
|
%
|
Total
used
|
1.8
|
|
|
1.2
|
|
|
0.5
|
|
|
44.9
|
%
|
|
|
—
|
|
|
40.9
|
%
|
Parts and service
sales
|
4.9
|
|
|
3.7
|
|
|
1.2
|
|
|
33.3
|
%
|
|
|
0.1
|
|
|
29.7
|
%
|
F&I,
net
|
1.7
|
|
|
1.1
|
|
|
0.6
|
|
|
54.5
|
%
|
|
|
—
|
|
|
50.1
|
%
|
Total gross
profit
|
$
|
14.5
|
|
|
$
|
8.6
|
|
|
$
|
5.9
|
|
|
68.7
|
%
|
|
|
$
|
0.4
|
|
|
64.1
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
9.9
|
%
|
|
8.3
|
%
|
|
1.6
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
8.4
|
%
|
|
9.3
|
%
|
|
(0.9)
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
7.1
|
%
|
|
8.0
|
%
|
|
(0.9)
|
%
|
|
|
|
|
|
|
|
Total
used
|
8.2
|
%
|
|
9.1
|
%
|
|
(0.8)
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
43.9
|
%
|
|
46.1
|
%
|
|
(2.2)
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
15.0
|
%
|
|
15.8
|
%
|
|
(0.8)
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
1,761
|
|
|
1,200
|
|
|
561
|
|
|
46.8
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
726
|
|
|
552
|
|
|
174
|
|
|
31.5
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
301
|
|
|
282
|
|
|
19
|
|
|
6.7
|
%
|
|
|
|
|
|
Total
used
|
1,027
|
|
|
834
|
|
|
193
|
|
|
23.1
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
35,394
|
|
|
$
|
26,558
|
|
|
$
|
8,836
|
|
|
33.3
|
%
|
|
|
$
|
924
|
|
|
29.8
|
%
|
Used vehicle
retail
|
$
|
24,732
|
|
|
$
|
19,766
|
|
|
$
|
4,967
|
|
|
25.1
|
%
|
|
|
$
|
644
|
|
|
21.9
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
3,510
|
|
|
$
|
2,196
|
|
|
$
|
1,314
|
|
|
59.8
|
%
|
|
|
$
|
90
|
|
|
55.7
|
%
|
Used vehicle retail
sales
|
$
|
2,090
|
|
|
$
|
1,840
|
|
|
$
|
250
|
|
|
13.6
|
%
|
|
|
$
|
58
|
|
|
10.4
|
%
|
Used vehicle wholesale
sales
|
$
|
792
|
|
|
$
|
696
|
|
|
$
|
96
|
|
|
13.8
|
%
|
|
|
$
|
22
|
|
|
10.7
|
%
|
Total
used
|
$
|
1,709
|
|
|
$
|
1,453
|
|
|
$
|
256
|
|
|
17.6
|
%
|
|
|
$
|
47
|
|
|
14.4
|
%
|
F&I PRU
|
$
|
675
|
|
|
$
|
621
|
|
|
$
|
55
|
|
|
8.9
|
%
|
|
|
$
|
19
|
|
|
5.7
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
8.8
|
|
|
$
|
6.9
|
|
|
$
|
2.0
|
|
|
28.5
|
%
|
|
|
$
|
0.2
|
|
|
25.0
|
%
|
SG&A as % gross
profit
|
60.9
|
%
|
|
79.9
|
%
|
|
(19.0)
|
%
|
|
|
|
|
|
|
|
Group 1
Automotive, Inc.
|
Reported Operating
Data - Brazil
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
Nine Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
146.3
|
|
|
$
|
109.1
|
|
|
$
|
37.1
|
|
|
34.0
|
%
|
|
|
$
|
(12.9)
|
|
|
45.9
|
%
|
Used vehicle retail
sales
|
40.5
|
|
|
38.3
|
|
|
2.1
|
|
|
5.6
|
%
|
|
|
(3.7)
|
|
|
15.2
|
%
|
Used vehicle wholesale
sales
|
8.0
|
|
|
9.2
|
|
|
(1.2)
|
|
|
(12.8)
|
%
|
|
|
(0.5)
|
|
|
(7.0)
|
%
|
Total
used
|
48.4
|
|
|
47.5
|
|
|
1.0
|
|
|
2.0
|
%
|
|
|
(4.2)
|
|
|
10.8
|
%
|
Parts and service
sales
|
28.2
|
|
|
23.4
|
|
|
4.8
|
|
|
20.4
|
%
|
|
|
(1.9)
|
|
|
28.6
|
%
|
F&I,
net
|
4.4
|
|
|
3.4
|
|
|
1.1
|
|
|
31.1
|
%
|
|
|
(0.4)
|
|
|
42.8
|
%
|
Total
revenues
|
$
|
227.3
|
|
|
$
|
183.4
|
|
|
$
|
43.9
|
|
|
23.9
|
%
|
|
|
$
|
(19.4)
|
|
|
34.5
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
14.8
|
|
|
$
|
7.5
|
|
|
$
|
7.2
|
|
|
95.9
|
%
|
|
|
$
|
(1.1)
|
|
|
111.0
|
%
|
Used vehicle retail
sales
|
3.6
|
|
|
2.5
|
|
|
1.1
|
|
|
44.2
|
%
|
|
|
(0.2)
|
|
|
54.1
|
%
|
Used vehicle wholesale
sales
|
0.6
|
|
|
0.5
|
|
|
0.1
|
|
|
26.5
|
%
|
|
|
—
|
|
|
34.7
|
%
|
Total
used
|
4.2
|
|
|
3.0
|
|
|
1.2
|
|
|
41.3
|
%
|
|
|
(0.3)
|
|
|
51.0
|
%
|
Parts and service
sales
|
12.3
|
|
|
10.3
|
|
|
1.9
|
|
|
18.8
|
%
|
|
|
(0.8)
|
|
|
26.8
|
%
|
F&I,
net
|
4.4
|
|
|
3.4
|
|
|
1.1
|
|
|
31.1
|
%
|
|
|
(0.4)
|
|
|
42.8
|
%
|
Total gross
profit
|
$
|
35.7
|
|
|
$
|
24.2
|
|
|
$
|
11.5
|
|
|
47.3
|
%
|
|
|
$
|
(2.6)
|
|
|
58.1
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
10.1
|
%
|
|
6.9
|
%
|
|
3.2
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
8.9
|
%
|
|
6.5
|
%
|
|
2.4
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
7.6
|
%
|
|
5.2
|
%
|
|
2.4
|
%
|
|
|
|
|
|
|
|
Total
used
|
8.7
|
%
|
|
6.3
|
%
|
|
2.4
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
43.5
|
%
|
|
44.1
|
%
|
|
(0.6)
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
15.7
|
%
|
|
13.2
|
%
|
|
2.5
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
4,383
|
|
|
3,865
|
|
|
518
|
|
|
13.4
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
1,742
|
|
|
2,006
|
|
|
(264)
|
|
|
(13.2)
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
770
|
|
|
1,081
|
|
|
(311)
|
|
|
(28.8)
|
%
|
|
|
|
|
|
Total
used
|
2,512
|
|
|
3,087
|
|
|
(575)
|
|
|
(18.6)
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
33,370
|
|
|
$
|
28,238
|
|
|
$
|
5,133
|
|
|
18.2
|
%
|
|
|
$
|
(2,947)
|
|
|
28.6
|
%
|
Used vehicle
retail
|
$
|
23,222
|
|
|
$
|
19,100
|
|
|
$
|
4,122
|
|
|
21.6
|
%
|
|
|
$
|
(2,106)
|
|
|
32.6
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
3,368
|
|
|
$
|
1,950
|
|
|
$
|
1,419
|
|
|
72.8
|
%
|
|
|
$
|
(260)
|
|
|
86.1
|
%
|
Used vehicle retail
sales
|
$
|
2,067
|
|
|
$
|
1,245
|
|
|
$
|
822
|
|
|
66.0
|
%
|
|
|
$
|
(143)
|
|
|
77.5
|
%
|
Used vehicle wholesale
sales
|
$
|
789
|
|
|
$
|
444
|
|
|
$
|
345
|
|
|
77.6
|
%
|
|
|
$
|
(51)
|
|
|
89.1
|
%
|
Total
used
|
$
|
1,676
|
|
|
$
|
965
|
|
|
$
|
711
|
|
|
73.7
|
%
|
|
|
$
|
(115)
|
|
|
85.6
|
%
|
F&I PRU
|
$
|
724
|
|
|
$
|
576
|
|
|
$
|
148
|
|
|
25.7
|
%
|
|
|
$
|
(64)
|
|
|
36.9
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
24.0
|
|
|
$
|
23.1
|
|
|
$
|
0.9
|
|
|
4.0
|
%
|
|
|
$
|
(1.8)
|
|
|
11.8
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
24.0
|
|
|
$
|
22.2
|
|
|
$
|
1.8
|
|
|
8.1
|
%
|
|
|
$
|
(1.8)
|
|
|
16.1
|
%
|
SG&A as % gross
profit
|
67.3
|
%
|
|
95.3
|
%
|
|
(28.0)
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
67.3
|
%
|
|
91.7
|
%
|
|
(24.4)
|
%
|
|
|
|
|
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
Group 1
Automotive, Inc.
|
Same Store
Operating Data - Consolidated
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
1,530.1
|
|
|
$
|
1,565.4
|
|
|
$
|
(35.3)
|
|
|
(2.3)
|
%
|
|
|
$
|
19.5
|
|
|
(3.5)
|
%
|
Used vehicle retail
sales
|
1,199.9
|
|
|
857.6
|
|
|
342.3
|
|
|
39.9
|
%
|
|
|
18.8
|
|
|
37.7
|
%
|
Used vehicle wholesale
sales
|
105.0
|
|
|
85.5
|
|
|
19.5
|
|
|
22.8
|
%
|
|
|
2.3
|
|
|
20.1
|
%
|
Total
used
|
1,304.9
|
|
|
943.1
|
|
|
361.8
|
|
|
38.4
|
%
|
|
|
21.1
|
|
|
36.1
|
%
|
Parts and service
sales
|
416.6
|
|
|
368.8
|
|
|
47.8
|
|
|
13.0
|
%
|
|
|
3.9
|
|
|
11.9
|
%
|
F&I,
net
|
145.1
|
|
|
128.1
|
|
|
17.0
|
|
|
13.3
|
%
|
|
|
1.0
|
|
|
12.5
|
%
|
Total
revenues
|
$
|
3,396.7
|
|
|
$
|
3,005.4
|
|
|
$
|
391.2
|
|
|
13.0
|
%
|
|
|
$
|
45.5
|
|
|
11.5
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
163.8
|
|
|
$
|
98.3
|
|
|
$
|
65.4
|
|
|
66.6
|
%
|
|
|
$
|
1.4
|
|
|
65.1
|
%
|
Used vehicle retail
sales
|
94.6
|
|
|
70.5
|
|
|
24.1
|
|
|
34.2
|
%
|
|
|
1.4
|
|
|
32.2
|
%
|
Used vehicle wholesale
sales
|
7.3
|
|
|
5.9
|
|
|
1.4
|
|
|
23.3
|
%
|
|
|
0.3
|
|
|
18.8
|
%
|
Total
used
|
101.8
|
|
|
76.4
|
|
|
25.5
|
|
|
33.3
|
%
|
|
|
1.7
|
|
|
31.2
|
%
|
Parts and service
sales
|
225.1
|
|
|
202.3
|
|
|
22.7
|
|
|
11.2
|
%
|
|
|
2.3
|
|
|
10.1
|
%
|
F&I,
net
|
145.1
|
|
|
128.1
|
|
|
17.0
|
|
|
13.3
|
%
|
|
|
1.0
|
|
|
12.5
|
%
|
Total gross
profit
|
$
|
635.8
|
|
|
$
|
505.1
|
|
|
$
|
130.6
|
|
|
25.9
|
%
|
|
|
$
|
6.3
|
|
|
24.6
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
10.7
|
%
|
|
6.3
|
%
|
|
4.4
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
7.9
|
%
|
|
8.2
|
%
|
|
(0.3)
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
6.9
|
%
|
|
6.9
|
%
|
|
—
|
%
|
|
|
|
|
|
|
|
Total
used
|
7.8
|
%
|
|
8.1
|
%
|
|
(0.3)
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
54.0
|
%
|
|
54.9
|
%
|
|
(0.8)
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
18.7
|
%
|
|
16.8
|
%
|
|
1.9
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
33,795
|
|
|
39,431
|
|
|
(5,636)
|
|
|
(14.3)
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
41,219
|
|
|
37,819
|
|
|
3,400
|
|
|
9.0
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
10,581
|
|
|
11,415
|
|
|
(834)
|
|
|
(7.3)
|
%
|
|
|
|
|
|
Total
used
|
51,800
|
|
|
49,234
|
|
|
2,566
|
|
|
5.2
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
45,275
|
|
|
$
|
39,700
|
|
|
$
|
5,575
|
|
|
14.0
|
%
|
|
|
$
|
578
|
|
|
12.6
|
%
|
Used vehicle
retail
|
$
|
29,110
|
|
|
$
|
22,676
|
|
|
$
|
6,433
|
|
|
28.4
|
%
|
|
|
$
|
455
|
|
|
26.4
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
4,846
|
|
|
$
|
2,493
|
|
|
$
|
2,352
|
|
|
94.3
|
%
|
|
|
$
|
41
|
|
|
92.7
|
%
|
Used vehicle retail
sales
|
$
|
2,294
|
|
|
$
|
1,863
|
|
|
$
|
431
|
|
|
23.1
|
%
|
|
|
$
|
34
|
|
|
21.3
|
%
|
Used vehicle wholesale
sales
|
$
|
687
|
|
|
$
|
516
|
|
|
$
|
171
|
|
|
33.1
|
%
|
|
|
$
|
25
|
|
|
28.1
|
%
|
Total
used
|
$
|
1,966
|
|
|
$
|
1,551
|
|
|
$
|
415
|
|
|
26.7
|
%
|
|
|
$
|
32
|
|
|
24.7
|
%
|
F&I PRU
|
$
|
1,934
|
|
|
$
|
1,658
|
|
|
$
|
276
|
|
|
16.6
|
%
|
|
|
$
|
13
|
|
|
15.9
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
372.2
|
|
|
$
|
300.7
|
|
|
$
|
71.5
|
|
|
23.8
|
%
|
|
|
$
|
3.9
|
|
|
22.5
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
371.0
|
|
|
$
|
300.7
|
|
|
$
|
70.3
|
|
|
23.4
|
%
|
|
|
$
|
3.9
|
|
|
22.1
|
%
|
SG&A as % gross
profit
|
58.5
|
%
|
|
59.5
|
%
|
|
(1.0)
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
58.4
|
%
|
|
59.5
|
%
|
|
(1.2)
|
%
|
|
|
|
|
|
|
|
Operating margin
%
|
7.1
|
%
|
|
6.2
|
%
|
|
1.0
|
%
|
|
|
|
|
|
|
|
Adjusted operating
margin % (1)
|
7.2
|
%
|
|
6.2
|
%
|
|
1.1
|
%
|
|
|
|
|
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
Group 1
Automotive, Inc.
|
Same Store
Operating Data - Consolidated
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
Nine Months Ended
September 30,
|
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
4,910.5
|
|
|
$
|
3,947.3
|
|
|
$
|
963.2
|
|
|
24.4
|
%
|
|
|
$
|
55.0
|
|
|
23.0
|
%
|
Used vehicle retail
sales
|
3,286.3
|
|
|
2,260.6
|
|
|
1,025.7
|
|
|
45.4
|
%
|
|
|
55.4
|
|
|
42.9
|
%
|
Used vehicle wholesale
sales
|
281.0
|
|
|
219.3
|
|
|
61.7
|
|
|
28.1
|
%
|
|
|
6.6
|
|
|
25.1
|
%
|
Total
used
|
3,567.3
|
|
|
2,479.9
|
|
|
1,087.4
|
|
|
43.8
|
%
|
|
|
62.0
|
|
|
41.3
|
%
|
Parts and service
sales
|
1,160.2
|
|
|
1,011.4
|
|
|
148.8
|
|
|
14.7
|
%
|
|
|
9.9
|
|
|
13.7
|
%
|
F&I,
net
|
432.0
|
|
|
335.1
|
|
|
96.9
|
|
|
28.9
|
%
|
|
|
2.8
|
|
|
28.1
|
%
|
Total
revenues
|
$
|
10,070.0
|
|
|
$
|
7,773.7
|
|
|
$
|
2,296.3
|
|
|
29.5
|
%
|
|
|
$
|
130.5
|
|
|
27.9
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
426.5
|
|
|
$
|
223.5
|
|
|
$
|
202.9
|
|
|
90.8
|
%
|
|
|
$
|
3.2
|
|
|
89.3
|
%
|
Used vehicle retail
sales
|
262.0
|
|
|
158.1
|
|
|
103.9
|
|
|
65.7
|
%
|
|
|
3.6
|
|
|
63.4
|
%
|
Used vehicle wholesale
sales
|
20.2
|
|
|
8.9
|
|
|
11.3
|
|
|
126.8
|
%
|
|
|
0.4
|
|
|
122.0
|
%
|
Total
used
|
282.2
|
|
|
167.0
|
|
|
115.2
|
|
|
68.9
|
%
|
|
|
4.0
|
|
|
66.6
|
%
|
Parts and service
sales
|
638.0
|
|
|
545.1
|
|
|
92.9
|
|
|
17.0
|
%
|
|
|
6.4
|
|
|
15.9
|
%
|
F&I,
net
|
432.0
|
|
|
335.1
|
|
|
96.9
|
|
|
28.9
|
%
|
|
|
2.8
|
|
|
28.1
|
%
|
Total gross
profit
|
$
|
1,778.7
|
|
|
$
|
1,270.8
|
|
|
$
|
507.9
|
|
|
40.0
|
%
|
|
|
$
|
16.4
|
|
|
38.7
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
8.7
|
%
|
|
5.7
|
%
|
|
3.0
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
8.0
|
%
|
|
7.0
|
%
|
|
1.0
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
7.2
|
%
|
|
4.1
|
%
|
|
3.1
|
%
|
|
|
|
|
|
|
|
Total
used
|
7.9
|
%
|
|
6.7
|
%
|
|
1.2
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
55.0
|
%
|
|
53.9
|
%
|
|
1.1
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
17.7
|
%
|
|
16.3
|
%
|
|
1.3
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
113,055
|
|
|
100,629
|
|
|
12,426
|
|
|
12.3
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
123,905
|
|
|
104,166
|
|
|
19,739
|
|
|
18.9
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
31,226
|
|
|
30,553
|
|
|
673
|
|
|
2.2
|
%
|
|
|
|
|
|
Total
used
|
155,131
|
|
|
134,719
|
|
|
20,412
|
|
|
15.2
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
43,434
|
|
|
$
|
39,226
|
|
|
$
|
4,208
|
|
|
10.7
|
%
|
|
|
$
|
486
|
|
|
9.5
|
%
|
Used vehicle
retail
|
$
|
26,523
|
|
|
$
|
21,702
|
|
|
$
|
4,821
|
|
|
22.2
|
%
|
|
|
$
|
447
|
|
|
20.2
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
3,772
|
|
|
$
|
2,221
|
|
|
$
|
1,551
|
|
|
69.8
|
%
|
|
|
$
|
28
|
|
|
68.5
|
%
|
Used vehicle retail
sales
|
$
|
2,115
|
|
|
$
|
1,518
|
|
|
$
|
596
|
|
|
39.3
|
%
|
|
|
$
|
29
|
|
|
37.4
|
%
|
Used vehicle wholesale
sales
|
$
|
647
|
|
|
$
|
291
|
|
|
$
|
355
|
|
|
121.9
|
%
|
|
|
$
|
14
|
|
|
117.2
|
%
|
Total
used
|
$
|
1,819
|
|
|
$
|
1,240
|
|
|
$
|
579
|
|
|
46.7
|
%
|
|
|
$
|
26
|
|
|
44.6
|
%
|
F&I PRU
|
$
|
1,823
|
|
|
$
|
1,636
|
|
|
$
|
187
|
|
|
11.4
|
%
|
|
|
$
|
12
|
|
|
10.7
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
1,061.8
|
|
|
$
|
856.1
|
|
|
$
|
205.7
|
|
|
24.0
|
%
|
|
|
$
|
10.9
|
|
|
22.8
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
1,059.4
|
|
|
$
|
843.5
|
|
|
$
|
215.9
|
|
|
25.6
|
%
|
|
|
$
|
10.8
|
|
|
24.3
|
%
|
SG&A as % gross
profit
|
59.7
|
%
|
|
67.4
|
%
|
|
(7.7)
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
59.6
|
%
|
|
66.4
|
%
|
|
(6.8)
|
%
|
|
|
|
|
|
|
|
Operating margin
%
|
6.5
|
%
|
|
4.3
|
%
|
|
2.2
|
%
|
|
|
|
|
|
|
|
Adjusted operating
margin % (1)
|
6.6
|
%
|
|
4.8
|
%
|
|
1.8
|
%
|
|
|
|
|
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
Group 1
Automotive, Inc.
|
Same Store
Operating Data - U.S.
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/(Decrease)
|
|
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
1,191.1
|
|
|
$
|
1,158.8
|
|
|
$
|
32.3
|
|
|
2.8
|
%
|
Used vehicle retail
sales
|
894.3
|
|
|
600.7
|
|
|
293.6
|
|
|
48.9
|
%
|
Used vehicle wholesale
sales
|
67.2
|
|
|
43.8
|
|
|
23.5
|
|
|
53.7
|
%
|
Total
used
|
961.5
|
|
|
644.4
|
|
|
317.1
|
|
|
49.2
|
%
|
Parts and service
sales
|
349.6
|
|
|
302.8
|
|
|
46.8
|
|
|
15.5
|
%
|
F&I,
net
|
129.0
|
|
|
111.8
|
|
|
17.3
|
|
|
15.5
|
%
|
Total
revenues
|
$
|
2,631.3
|
|
|
$
|
2,217.8
|
|
|
$
|
413.5
|
|
|
18.6
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
138.0
|
|
|
$
|
79.0
|
|
|
$
|
59.1
|
|
|
74.8
|
%
|
Used vehicle retail
sales
|
71.5
|
|
|
52.4
|
|
|
19.2
|
|
|
36.6
|
%
|
Used vehicle wholesale
sales
|
3.0
|
|
|
3.7
|
|
|
(0.7)
|
|
|
(18.8)
|
%
|
Total
used
|
74.5
|
|
|
56.1
|
|
|
18.5
|
|
|
33.0
|
%
|
Parts and service
sales
|
186.0
|
|
|
164.0
|
|
|
21.9
|
|
|
13.4
|
%
|
F&I,
net
|
129.0
|
|
|
111.8
|
|
|
17.3
|
|
|
15.5
|
%
|
Total gross
profit
|
$
|
527.6
|
|
|
$
|
410.8
|
|
|
$
|
116.7
|
|
|
28.4
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
11.6
|
%
|
|
6.8
|
%
|
|
4.8
|
%
|
|
|
Used vehicle retail
sales
|
8.0
|
%
|
|
8.7
|
%
|
|
(0.7)
|
%
|
|
|
Used vehicle wholesale
sales
|
4.5
|
%
|
|
8.4
|
%
|
|
(4.0)
|
%
|
|
|
Total
used
|
7.8
|
%
|
|
8.7
|
%
|
|
(0.9)
|
%
|
|
|
Parts and service
sales
|
53.2
|
%
|
|
54.2
|
%
|
|
(1.0)
|
%
|
|
|
Total gross
margin
|
20.0
|
%
|
|
18.5
|
%
|
|
1.5
|
%
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
25,522
|
|
|
27,626
|
|
|
(2,104)
|
|
|
(7.6)
|
%
|
Retail used vehicles
sold
|
31,366
|
|
|
27,299
|
|
|
4,067
|
|
|
14.9
|
%
|
Wholesale used
vehicles sold
|
6,611
|
|
|
6,076
|
|
|
535
|
|
|
8.8
|
%
|
Total
used
|
37,977
|
|
|
33,375
|
|
|
4,602
|
|
|
13.8
|
%
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
46,670
|
|
|
$
|
41,947
|
|
|
$
|
4,723
|
|
|
11.3
|
%
|
Used vehicle
retail
|
$
|
28,512
|
|
|
$
|
22,003
|
|
|
$
|
6,509
|
|
|
29.6
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
5,409
|
|
|
$
|
2,858
|
|
|
$
|
2,551
|
|
|
89.2
|
%
|
Used vehicle retail
sales
|
$
|
2,280
|
|
|
$
|
1,918
|
|
|
$
|
362
|
|
|
18.9
|
%
|
Used vehicle wholesale
sales
|
$
|
454
|
|
|
$
|
608
|
|
|
$
|
(154)
|
|
|
(25.4)
|
%
|
Total
used
|
$
|
1,962
|
|
|
$
|
1,679
|
|
|
$
|
283
|
|
|
16.8
|
%
|
F&I PRU
|
$
|
2,268
|
|
|
$
|
2,035
|
|
|
$
|
234
|
|
|
11.5
|
%
|
Other:
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
304.5
|
|
|
$
|
241.6
|
|
|
$
|
62.9
|
|
|
26.0
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
303.9
|
|
|
$
|
241.6
|
|
|
$
|
62.3
|
|
|
25.8
|
%
|
SG&A as % gross
profit
|
57.7
|
%
|
|
58.8
|
%
|
|
(1.1)
|
%
|
|
|
Adjusted SG&A as %
gross profit (1)
|
57.6
|
%
|
|
58.8
|
%
|
|
(1.2)
|
%
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
Group 1
Automotive, Inc.
|
Same Store
Operating Data - U.S.
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/(Decrease)
|
|
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
3,923.4
|
|
|
$
|
3,042.0
|
|
|
$
|
881.4
|
|
|
29.0
|
%
|
Used vehicle retail
sales
|
2,466.2
|
|
|
1,696.7
|
|
|
769.5
|
|
|
45.4
|
%
|
Used vehicle wholesale
sales
|
178.2
|
|
|
119.8
|
|
|
58.4
|
|
|
48.8
|
%
|
Total
used
|
2,644.4
|
|
|
1,816.5
|
|
|
827.9
|
|
|
45.6
|
%
|
Parts and service
sales
|
974.3
|
|
|
855.8
|
|
|
118.5
|
|
|
13.8
|
%
|
F&I,
net
|
386.9
|
|
|
297.0
|
|
|
89.9
|
|
|
30.3
|
%
|
Total
revenues
|
$
|
7,929.1
|
|
|
$
|
6,011.4
|
|
|
$
|
1,917.7
|
|
|
31.9
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
359.0
|
|
|
$
|
181.5
|
|
|
$
|
177.6
|
|
|
97.8
|
%
|
Used vehicle retail
sales
|
207.9
|
|
|
124.6
|
|
|
83.3
|
|
|
66.8
|
%
|
Used vehicle wholesale
sales
|
13.1
|
|
|
6.1
|
|
|
7.0
|
|
|
115.2
|
%
|
Total
used
|
221.1
|
|
|
130.7
|
|
|
90.3
|
|
|
69.1
|
%
|
Parts and service
sales
|
530.3
|
|
|
459.7
|
|
|
70.6
|
|
|
15.4
|
%
|
F&I,
net
|
386.9
|
|
|
297.0
|
|
|
89.9
|
|
|
30.3
|
%
|
Total gross
profit
|
$
|
1,497.3
|
|
|
$
|
1,068.9
|
|
|
$
|
428.4
|
|
|
40.1
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
9.2
|
%
|
|
6.0
|
%
|
|
3.2
|
%
|
|
|
Used vehicle retail
sales
|
8.4
|
%
|
|
7.3
|
%
|
|
1.1
|
%
|
|
|
Used vehicle wholesale
sales
|
7.4
|
%
|
|
5.1
|
%
|
|
2.3
|
%
|
|
|
Total
used
|
8.4
|
%
|
|
7.2
|
%
|
|
1.2
|
%
|
|
|
Parts and service
sales
|
54.4
|
%
|
|
53.7
|
%
|
|
0.7
|
%
|
|
|
Total gross
margin
|
18.9
|
%
|
|
17.8
|
%
|
|
1.1
|
%
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
88,233
|
|
|
73,528
|
|
|
14,705
|
|
|
20.0
|
%
|
Retail used vehicles
sold
|
95,456
|
|
|
80,270
|
|
|
15,186
|
|
|
18.9
|
%
|
Wholesale used
vehicles sold
|
19,538
|
|
|
18,057
|
|
|
1,481
|
|
|
8.2
|
%
|
Total
used
|
114,994
|
|
|
98,327
|
|
|
16,667
|
|
|
17.0
|
%
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
44,467
|
|
|
$
|
41,372
|
|
|
$
|
3,094
|
|
|
7.5
|
%
|
Used vehicle
retail
|
$
|
25,836
|
|
|
$
|
21,138
|
|
|
$
|
4,698
|
|
|
22.2
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
4,069
|
|
|
$
|
2,468
|
|
|
$
|
1,601
|
|
|
64.9
|
%
|
Used vehicle retail
sales
|
$
|
2,178
|
|
|
$
|
1,553
|
|
|
$
|
625
|
|
|
40.3
|
%
|
Used vehicle wholesale
sales
|
$
|
673
|
|
|
$
|
338
|
|
|
$
|
334
|
|
|
98.9
|
%
|
Total
used
|
$
|
1,922
|
|
|
$
|
1,330
|
|
|
$
|
593
|
|
|
44.6
|
%
|
F&I PRU
|
$
|
2,106
|
|
|
$
|
1,931
|
|
|
$
|
175
|
|
|
9.1
|
%
|
Other:
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
875.9
|
|
|
$
|
695.8
|
|
|
$
|
180.2
|
|
|
25.9
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
874.1
|
|
|
$
|
685.2
|
|
|
$
|
188.9
|
|
|
27.6
|
%
|
SG&A as % gross
profit
|
58.5
|
%
|
|
65.1
|
%
|
|
(6.6)
|
%
|
|
|
Adjusted SG&A as %
gross profit (1)
|
58.4
|
%
|
|
64.1
|
%
|
|
(5.7)
|
%
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
Group 1
Automotive, Inc.
|
Same Store
Operating Data - U.K.
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
276.6
|
|
|
$
|
374.7
|
|
|
$
|
(98.1)
|
|
|
(26.2)
|
%
|
|
|
$
|
17.9
|
|
|
(31.0)
|
%
|
Used vehicle retail
sales
|
287.6
|
|
|
246.0
|
|
|
41.6
|
|
|
16.9
|
%
|
|
|
18.3
|
|
|
9.5
|
%
|
Used vehicle wholesale
sales
|
34.5
|
|
|
39.3
|
|
|
(4.9)
|
|
|
(12.4)
|
%
|
|
|
2.2
|
|
|
(18.0)
|
%
|
Total
used
|
322.1
|
|
|
285.4
|
|
|
36.7
|
|
|
12.9
|
%
|
|
|
20.5
|
|
|
5.7
|
%
|
Parts and service
sales
|
55.9
|
|
|
58.1
|
|
|
(2.1)
|
|
|
(3.7)
|
%
|
|
|
3.6
|
|
|
(9.8)
|
%
|
F&I,
net
|
14.4
|
|
|
15.3
|
|
|
(0.9)
|
|
|
(5.8)
|
%
|
|
|
0.9
|
|
|
(11.8)
|
%
|
Total
revenues
|
$
|
669.0
|
|
|
$
|
733.4
|
|
|
$
|
(64.4)
|
|
|
(8.8)
|
%
|
|
|
$
|
43.0
|
|
|
(14.6)
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
19.5
|
|
|
$
|
16.7
|
|
|
$
|
2.8
|
|
|
16.8
|
%
|
|
|
$
|
1.2
|
|
|
9.4
|
%
|
Used vehicle retail
sales
|
21.5
|
|
|
17.1
|
|
|
4.4
|
|
|
25.9
|
%
|
|
|
1.3
|
|
|
18.0
|
%
|
Used vehicle wholesale
sales
|
4.0
|
|
|
2.0
|
|
|
2.0
|
|
|
101.1
|
%
|
|
|
0.3
|
|
|
88.0
|
%
|
Total
used
|
25.6
|
|
|
19.1
|
|
|
6.5
|
|
|
33.8
|
%
|
|
|
1.6
|
|
|
25.4
|
%
|
Parts and service
sales
|
34.2
|
|
|
34.6
|
|
|
(0.4)
|
|
|
(1.2)
|
%
|
|
|
2.2
|
|
|
(7.5)
|
%
|
F&I,
net
|
14.4
|
|
|
15.3
|
|
|
(0.9)
|
|
|
(5.8)
|
%
|
|
|
0.9
|
|
|
(11.8)
|
%
|
Total gross
profit
|
$
|
93.7
|
|
|
$
|
85.7
|
|
|
$
|
8.0
|
|
|
9.3
|
%
|
|
|
$
|
5.9
|
|
|
2.4
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
7.1
|
%
|
|
4.5
|
%
|
|
2.6
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
7.5
|
%
|
|
6.9
|
%
|
|
0.5
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
11.7
|
%
|
|
5.1
|
%
|
|
6.6
|
%
|
|
|
|
|
|
|
|
Total
used
|
7.9
|
%
|
|
6.7
|
%
|
|
1.2
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
61.2
|
%
|
|
59.7
|
%
|
|
1.6
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
14.0
|
%
|
|
11.7
|
%
|
|
2.3
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
6,512
|
|
|
10,605
|
|
|
(4,093)
|
|
|
(38.6)
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
9,127
|
|
|
9,968
|
|
|
(841)
|
|
|
(8.4)
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
3,669
|
|
|
5,057
|
|
|
(1,388)
|
|
|
(27.4)
|
%
|
|
|
|
|
|
Total
used
|
12,796
|
|
|
15,025
|
|
|
(2,229)
|
|
|
(14.8)
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
42,479
|
|
|
$
|
35,333
|
|
|
$
|
7,146
|
|
|
20.2
|
%
|
|
|
$
|
2,748
|
|
|
12.4
|
%
|
Used vehicle
retail
|
$
|
31,513
|
|
|
$
|
24,681
|
|
|
$
|
6,831
|
|
|
27.7
|
%
|
|
|
$
|
2,006
|
|
|
19.6
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
3,000
|
|
|
$
|
1,577
|
|
|
$
|
1,423
|
|
|
90.3
|
%
|
|
|
$
|
190
|
|
|
78.2
|
%
|
Used vehicle retail
sales
|
$
|
2,358
|
|
|
$
|
1,715
|
|
|
$
|
643
|
|
|
37.5
|
%
|
|
|
$
|
148
|
|
|
28.9
|
%
|
Used vehicle wholesale
sales
|
$
|
1,099
|
|
|
$
|
396
|
|
|
$
|
703
|
|
|
NM
|
|
|
|
$
|
72
|
|
|
NM
|
|
Total
used
|
$
|
1,997
|
|
|
$
|
1,271
|
|
|
$
|
726
|
|
|
57.1
|
%
|
|
|
$
|
126
|
|
|
47.2
|
%
|
F&I PRU
|
$
|
919
|
|
|
$
|
742
|
|
|
$
|
177
|
|
|
23.9
|
%
|
|
|
$
|
58
|
|
|
16.0
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
58.9
|
|
|
$
|
52.2
|
|
|
$
|
6.8
|
|
|
12.9
|
%
|
|
|
$
|
3.7
|
|
|
5.8
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
58.4
|
|
|
$
|
52.2
|
|
|
$
|
6.2
|
|
|
11.9
|
%
|
|
|
$
|
3.7
|
|
|
4.8
|
%
|
SG&A as % gross
profit
|
62.9
|
%
|
|
60.9
|
%
|
|
2.0
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
62.3
|
%
|
|
60.9
|
%
|
|
1.4
|
%
|
|
|
|
|
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
NM — Not
Meaningful
|
Group 1
Automotive, Inc.
|
Same Store
Operating Data - U.K.
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
Nine Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
840.8
|
|
|
$
|
796.1
|
|
|
$
|
44.7
|
|
|
5.6
|
%
|
|
|
$
|
67.9
|
|
|
(2.9)
|
%
|
Used vehicle retail
sales
|
779.6
|
|
|
525.6
|
|
|
254.0
|
|
|
48.3
|
%
|
|
|
59.0
|
|
|
37.1
|
%
|
Used vehicle wholesale
sales
|
94.7
|
|
|
90.3
|
|
|
4.4
|
|
|
4.9
|
%
|
|
|
7.1
|
|
|
(3.0)
|
%
|
Total
used
|
874.4
|
|
|
615.9
|
|
|
258.5
|
|
|
42.0
|
%
|
|
|
66.2
|
|
|
31.2
|
%
|
Parts and service
sales
|
157.7
|
|
|
132.2
|
|
|
25.5
|
|
|
19.3
|
%
|
|
|
11.8
|
|
|
10.3
|
%
|
F&I,
net
|
40.6
|
|
|
34.7
|
|
|
5.9
|
|
|
17.0
|
%
|
|
|
3.2
|
|
|
7.7
|
%
|
Total
revenues
|
$
|
1,913.5
|
|
|
$
|
1,578.9
|
|
|
$
|
334.6
|
|
|
21.2
|
%
|
|
|
$
|
149.8
|
|
|
11.7
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
52.7
|
|
|
$
|
34.5
|
|
|
$
|
18.1
|
|
|
52.6
|
%
|
|
|
$
|
4.3
|
|
|
40.0
|
%
|
Used vehicle retail
sales
|
50.5
|
|
|
31.0
|
|
|
19.5
|
|
|
62.8
|
%
|
|
|
3.8
|
|
|
50.6
|
%
|
Used vehicle wholesale
sales
|
6.4
|
|
|
2.3
|
|
|
4.1
|
|
|
NM
|
|
|
|
0.5
|
|
|
NM
|
|
Total
used
|
56.9
|
|
|
33.3
|
|
|
23.6
|
|
|
70.9
|
%
|
|
|
4.3
|
|
|
58.0
|
%
|
Parts and service
sales
|
95.5
|
|
|
75.1
|
|
|
20.3
|
|
|
27.1
|
%
|
|
|
7.2
|
|
|
17.5
|
%
|
F&I,
net
|
40.6
|
|
|
34.7
|
|
|
5.9
|
|
|
17.0
|
%
|
|
|
3.2
|
|
|
7.7
|
%
|
Total gross
profit
|
$
|
245.7
|
|
|
$
|
177.7
|
|
|
$
|
68.0
|
|
|
38.3
|
%
|
|
|
$
|
19.0
|
|
|
27.6
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
6.3
|
%
|
|
4.3
|
%
|
|
1.9
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
6.5
|
%
|
|
5.9
|
%
|
|
0.6
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
6.8
|
%
|
|
2.6
|
%
|
|
4.2
|
%
|
|
|
|
|
|
|
|
Total
used
|
6.5
|
%
|
|
5.4
|
%
|
|
1.1
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
60.5
|
%
|
|
56.8
|
%
|
|
3.7
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
12.8
|
%
|
|
11.3
|
%
|
|
1.6
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
20,439
|
|
|
23,236
|
|
|
(2,797)
|
|
|
(12.0)
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
26,707
|
|
|
21,890
|
|
|
4,817
|
|
|
22.0
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
10,918
|
|
|
11,415
|
|
|
(497)
|
|
|
(4.4)
|
%
|
|
|
|
|
|
Total
used
|
37,625
|
|
|
33,305
|
|
|
4,320
|
|
|
13.0
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
41,137
|
|
|
$
|
34,262
|
|
|
$
|
6,875
|
|
|
20.1
|
%
|
|
|
$
|
3,322
|
|
|
10.4
|
%
|
Used vehicle
retail
|
$
|
29,192
|
|
|
$
|
24,012
|
|
|
$
|
5,181
|
|
|
21.6
|
%
|
|
|
$
|
2,211
|
|
|
12.4
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
2,577
|
|
|
$
|
1,486
|
|
|
$
|
1,091
|
|
|
73.4
|
%
|
|
|
$
|
212
|
|
|
59.1
|
%
|
Used vehicle retail
sales
|
$
|
1,890
|
|
|
$
|
1,416
|
|
|
$
|
474
|
|
|
33.5
|
%
|
|
|
$
|
142
|
|
|
23.4
|
%
|
Used vehicle wholesale
sales
|
$
|
590
|
|
|
$
|
203
|
|
|
$
|
387
|
|
|
NM
|
|
|
|
$
|
43
|
|
|
NM
|
|
Total
used
|
$
|
1,513
|
|
|
$
|
1,001
|
|
|
$
|
513
|
|
|
51.2
|
%
|
|
|
$
|
113
|
|
|
39.9
|
%
|
F&I PRU
|
$
|
862
|
|
|
$
|
769
|
|
|
$
|
93
|
|
|
12.0
|
%
|
|
|
$
|
68
|
|
|
3.1
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
162.0
|
|
|
$
|
137.3
|
|
|
$
|
24.7
|
|
|
18.0
|
%
|
|
|
$
|
12.7
|
|
|
8.8
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
161.4
|
|
|
$
|
136.1
|
|
|
$
|
25.3
|
|
|
18.6
|
%
|
|
|
$
|
12.6
|
|
|
9.4
|
%
|
SG&A as % gross
profit
|
65.9
|
%
|
|
77.3
|
%
|
|
(11.4)
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
65.7
|
%
|
|
76.6
|
%
|
|
(10.9)
|
%
|
|
|
|
|
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
NM — Not
Meaningful
|
Group 1
Automotive, Inc.
|
Same Store
Operating Data - Brazil
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
62.3
|
|
|
$
|
31.9
|
|
|
$
|
30.5
|
|
|
95.6
|
%
|
|
|
$
|
1.6
|
|
|
90.5
|
%
|
Used vehicle retail
sales
|
18.0
|
|
|
10.9
|
|
|
7.0
|
|
|
64.6
|
%
|
|
|
0.5
|
|
|
60.3
|
%
|
Used vehicle wholesale
sales
|
3.3
|
|
|
2.4
|
|
|
0.9
|
|
|
36.7
|
%
|
|
|
0.1
|
|
|
33.2
|
%
|
Total
used
|
21.3
|
|
|
13.4
|
|
|
7.9
|
|
|
59.5
|
%
|
|
|
0.6
|
|
|
55.3
|
%
|
Parts and service
sales
|
11.1
|
|
|
7.9
|
|
|
3.2
|
|
|
39.9
|
%
|
|
|
0.3
|
|
|
36.2
|
%
|
F&I,
net
|
1.7
|
|
|
1.1
|
|
|
0.6
|
|
|
54.5
|
%
|
|
|
—
|
|
|
50.1
|
%
|
Total
revenues
|
$
|
96.4
|
|
|
$
|
54.3
|
|
|
$
|
42.2
|
|
|
77.7
|
%
|
|
|
$
|
2.5
|
|
|
73.1
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
6.2
|
|
|
$
|
2.6
|
|
|
$
|
3.5
|
|
|
134.6
|
%
|
|
|
$
|
0.2
|
|
|
128.6
|
%
|
Used vehicle retail
sales
|
1.5
|
|
|
1.0
|
|
|
0.5
|
|
|
49.4
|
%
|
|
|
—
|
|
|
45.2
|
%
|
Used vehicle wholesale
sales
|
0.2
|
|
|
0.2
|
|
|
—
|
|
|
21.5
|
%
|
|
|
—
|
|
|
18.1
|
%
|
Total
used
|
1.8
|
|
|
1.2
|
|
|
0.5
|
|
|
44.9
|
%
|
|
|
—
|
|
|
40.9
|
%
|
Parts and service
sales
|
4.9
|
|
|
3.7
|
|
|
1.2
|
|
|
33.4
|
%
|
|
|
0.1
|
|
|
29.7
|
%
|
F&I,
net
|
1.7
|
|
|
1.1
|
|
|
0.6
|
|
|
54.5
|
%
|
|
|
—
|
|
|
50.1
|
%
|
Total gross
profit
|
$
|
14.5
|
|
|
$
|
8.6
|
|
|
$
|
5.9
|
|
|
68.7
|
%
|
|
|
$
|
0.4
|
|
|
64.1
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
9.9
|
%
|
|
8.3
|
%
|
|
1.6
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
8.4
|
%
|
|
9.3
|
%
|
|
(0.9)
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
7.1
|
%
|
|
8.0
|
%
|
|
(0.9)
|
%
|
|
|
|
|
|
|
|
Total
used
|
8.2
|
%
|
|
9.1
|
%
|
|
(0.8)
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
43.9
|
%
|
|
46.1
|
%
|
|
(2.2)
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
15.0
|
%
|
|
15.8
|
%
|
|
(0.8)
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
1,761
|
|
|
1,200
|
|
|
561
|
|
|
46.8
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
726
|
|
|
552
|
|
|
174
|
|
|
31.5
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
301
|
|
|
282
|
|
|
19
|
|
|
6.7
|
%
|
|
|
|
|
|
Total
used
|
1,027
|
|
|
834
|
|
|
193
|
|
|
23.1
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
35,394
|
|
|
$
|
26,558
|
|
|
$
|
8,836
|
|
|
33.3
|
%
|
|
|
$
|
924
|
|
|
29.8
|
%
|
Used vehicle
retail
|
$
|
24,732
|
|
|
$
|
19,766
|
|
|
$
|
4,967
|
|
|
25.1
|
%
|
|
|
$
|
644
|
|
|
21.9
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
3,510
|
|
|
$
|
2,196
|
|
|
$
|
1,314
|
|
|
59.8
|
%
|
|
|
$
|
90
|
|
|
55.7
|
%
|
Used vehicle retail
sales
|
$
|
2,090
|
|
|
$
|
1,840
|
|
|
$
|
250
|
|
|
13.6
|
%
|
|
|
$
|
58
|
|
|
10.4
|
%
|
Used vehicle wholesale
sales
|
$
|
792
|
|
|
$
|
696
|
|
|
$
|
96
|
|
|
13.8
|
%
|
|
|
$
|
22
|
|
|
10.7
|
%
|
Total
used
|
$
|
1,709
|
|
|
$
|
1,453
|
|
|
$
|
256
|
|
|
17.6
|
%
|
|
|
$
|
47
|
|
|
14.4
|
%
|
F&I PRU
|
$
|
675
|
|
|
$
|
621
|
|
|
$
|
55
|
|
|
8.9
|
%
|
|
|
$
|
19
|
|
|
5.7
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
8.8
|
|
|
$
|
6.9
|
|
|
$
|
1.9
|
|
|
27.7
|
%
|
|
|
$
|
0.2
|
|
|
24.2
|
%
|
SG&A as % gross
profit
|
60.4
|
%
|
|
79.8
|
%
|
|
(19.4)
|
%
|
|
|
|
|
|
|
|
Group 1
Automotive, Inc.
|
Same Store
Operating Data - Brazil
|
(Unaudited)
|
(In millions,
except unit data)
|
|
|
|
Nine Months Ended
September 30,
|
|
2021
|
|
2020
|
|
Increase/
(Decrease)
|
|
%
Change
|
|
|
Currency
Impact
on
Current
Period
Results
|
|
Constant
Currency
%
Change
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
146.3
|
|
|
$
|
109.1
|
|
|
$
|
37.1
|
|
|
34.0
|
%
|
|
|
$
|
(12.9)
|
|
|
45.9
|
%
|
Used vehicle retail
sales
|
40.5
|
|
|
38.3
|
|
|
2.2
|
|
|
5.7
|
%
|
|
|
(3.7)
|
|
|
15.2
|
%
|
Used vehicle wholesale
sales
|
8.0
|
|
|
9.2
|
|
|
(1.2)
|
|
|
(12.8)
|
%
|
|
|
(0.5)
|
|
|
(7.0)
|
%
|
Total
used
|
48.4
|
|
|
47.4
|
|
|
1.0
|
|
|
2.1
|
%
|
|
|
(4.2)
|
|
|
10.9
|
%
|
Parts and service
sales
|
28.2
|
|
|
23.4
|
|
|
4.8
|
|
|
20.5
|
%
|
|
|
(1.9)
|
|
|
28.6
|
%
|
F&I,
net
|
4.4
|
|
|
3.4
|
|
|
1.1
|
|
|
31.1
|
%
|
|
|
(0.4)
|
|
|
42.8
|
%
|
Total
revenues
|
$
|
227.3
|
|
|
$
|
183.4
|
|
|
$
|
44.0
|
|
|
24.0
|
%
|
|
|
$
|
(19.4)
|
|
|
34.5
|
%
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
14.8
|
|
|
$
|
7.5
|
|
|
$
|
7.2
|
|
|
95.9
|
%
|
|
|
$
|
(1.1)
|
|
|
111.0
|
%
|
Used vehicle retail
sales
|
3.6
|
|
|
2.5
|
|
|
1.1
|
|
|
44.5
|
%
|
|
|
(0.2)
|
|
|
54.5
|
%
|
Used vehicle wholesale
sales
|
0.6
|
|
|
0.5
|
|
|
0.1
|
|
|
26.5
|
%
|
|
|
—
|
|
|
34.7
|
%
|
Total
used
|
4.2
|
|
|
3.0
|
|
|
1.2
|
|
|
41.6
|
%
|
|
|
(0.3)
|
|
|
51.3
|
%
|
Parts and service
sales
|
12.3
|
|
|
10.3
|
|
|
1.9
|
|
|
18.8
|
%
|
|
|
(0.8)
|
|
|
26.8
|
%
|
F&I,
net
|
4.4
|
|
|
3.4
|
|
|
1.1
|
|
|
31.1
|
%
|
|
|
(0.4)
|
|
|
42.8
|
%
|
Total gross
profit
|
$
|
35.7
|
|
|
$
|
24.2
|
|
|
$
|
11.5
|
|
|
47.3
|
%
|
|
|
$
|
(2.6)
|
|
|
58.1
|
%
|
Gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
10.1
|
%
|
|
6.9
|
%
|
|
3.2
|
%
|
|
|
|
|
|
|
|
Used vehicle retail
sales
|
8.9
|
%
|
|
6.5
|
%
|
|
2.4
|
%
|
|
|
|
|
|
|
|
Used vehicle wholesale
sales
|
7.6
|
%
|
|
5.2
|
%
|
|
2.4
|
%
|
|
|
|
|
|
|
|
Total
used
|
8.7
|
%
|
|
6.3
|
%
|
|
2.4
|
%
|
|
|
|
|
|
|
|
Parts and service
sales
|
43.5
|
%
|
|
44.1
|
%
|
|
(0.6)
|
%
|
|
|
|
|
|
|
|
Total gross
margin
|
15.7
|
%
|
|
13.2
|
%
|
|
2.5
|
%
|
|
|
|
|
|
|
|
Units
sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicles
sold
|
4,383
|
|
|
3,865
|
|
|
518
|
|
|
13.4
|
%
|
|
|
|
|
|
Retail used vehicles
sold
|
1,742
|
|
|
2,006
|
|
|
(264)
|
|
|
(13.2)
|
%
|
|
|
|
|
|
Wholesale used
vehicles sold
|
770
|
|
|
1,081
|
|
|
(311)
|
|
|
(28.8)
|
%
|
|
|
|
|
|
Total
used
|
2,512
|
|
|
3,087
|
|
|
(575)
|
|
|
(18.6)
|
%
|
|
|
|
|
|
Average sales
price per unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle
retail
|
$
|
33,370
|
|
|
$
|
28,238
|
|
|
$
|
5,133
|
|
|
18.2
|
%
|
|
|
$
|
(2,947)
|
|
|
28.6
|
%
|
Used vehicle
retail
|
$
|
23,222
|
|
|
$
|
19,086
|
|
|
$
|
4,136
|
|
|
21.7
|
%
|
|
|
$
|
(2,107)
|
|
|
32.7
|
%
|
Gross profit per
unit sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
New vehicle retail
sales
|
$
|
3,368
|
|
|
$
|
1,950
|
|
|
$
|
1,419
|
|
|
72.8
|
%
|
|
|
$
|
(260)
|
|
|
86.1
|
%
|
Used vehicle retail
sales
|
$
|
2,070
|
|
|
$
|
1,244
|
|
|
$
|
826
|
|
|
66.4
|
%
|
|
|
$
|
(143)
|
|
|
77.9
|
%
|
Used vehicle wholesale
sales
|
$
|
789
|
|
|
$
|
444
|
|
|
$
|
345
|
|
|
77.6
|
%
|
|
|
$
|
(51)
|
|
|
89.1
|
%
|
Total
used
|
$
|
1,677
|
|
|
$
|
964
|
|
|
$
|
713
|
|
|
74.0
|
%
|
|
|
$
|
(115)
|
|
|
85.9
|
%
|
F&I PRU
|
$
|
724
|
|
|
$
|
576
|
|
|
$
|
148
|
|
|
25.7
|
%
|
|
|
$
|
(64)
|
|
|
36.9
|
%
|
Other:
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A
expenses
|
$
|
23.9
|
|
|
$
|
23.0
|
|
|
$
|
0.9
|
|
|
3.7
|
%
|
|
|
$
|
(1.8)
|
|
|
11.4
|
%
|
Adjusted SG&A
expenses (1)
|
$
|
23.9
|
|
|
$
|
22.1
|
|
|
$
|
1.7
|
|
|
7.8
|
%
|
|
|
$
|
(1.8)
|
|
|
15.8
|
%
|
SG&A as % gross
profit
|
66.9
|
%
|
|
95.1
|
%
|
|
(28.1)
|
%
|
|
|
|
|
|
|
|
Adjusted SG&A as %
gross profit (1)
|
66.9
|
%
|
|
91.4
|
%
|
|
(24.5)
|
%
|
|
|
|
|
|
|
|
|
(1) See
the section in this release titled "Reconciliation of Certain
Non-GAAP Financial Measures" for the GAAP to non-GAAP
reconciliation of these figures.
|
Group 1
Automotive, Inc.
|
Reconciliation of
Certain Non-GAAP Financial Measures - Consolidated
|
(Unaudited)
|
(In
millions, except per share data)
|
|
|
|
|
|
Three Months Ended
September 30, 2021
|
|
|
U.S.
GAAP
|
|
Non-cash
gain on interest
rate swaps
|
|
Catastrophic
events
|
|
Acquisition
costs
|
|
Legal
matters
|
|
Asset
impairments
|
|
Loss on
extinguishment of debt
|
|
Non-GAAP
adjusted
|
SG&A
expenses
|
|
$
|
385.1
|
|
|
$
|
—
|
|
|
$
|
(0.6)
|
|
|
$
|
(4.3)
|
|
|
$
|
3.7
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
383.9
|
|
Asset
impairments
|
|
$
|
1.7
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(1.7)
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Income (loss) from
operations
|
|
$
|
246.8
|
|
|
$
|
—
|
|
|
$
|
0.6
|
|
|
$
|
4.3
|
|
|
$
|
(3.7)
|
|
|
$
|
1.7
|
|
|
$
|
—
|
|
|
$
|
249.7
|
|
Floorplan interest
expense
|
|
$
|
4.8
|
|
|
$
|
0.9
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5.7
|
|
Loss on
extinguishment of debt
|
|
$
|
3.8
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(3.8)
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before
income taxes
|
|
$
|
225.0
|
|
|
$
|
(0.9)
|
|
|
$
|
0.6
|
|
|
$
|
4.3
|
|
|
$
|
(3.7)
|
|
|
$
|
1.7
|
|
|
$
|
3.8
|
|
|
$
|
230.9
|
|
Less: Provision
(benefit) for income taxes
|
|
52.9
|
|
|
(0.2)
|
|
|
0.1
|
|
|
0.9
|
|
|
(0.8)
|
|
|
0.4
|
|
|
—
|
|
|
53.4
|
|
Net income
(loss)
|
|
172.1
|
|
|
(0.7)
|
|
|
0.4
|
|
|
3.4
|
|
|
(2.9)
|
|
|
1.3
|
|
|
3.8
|
|
|
177.5
|
|
Less: Earnings (loss)
allocated to participating securities
|
|
5.7
|
|
|
—
|
|
|
—
|
|
|
0.1
|
|
|
(0.1)
|
|
|
—
|
|
|
0.1
|
|
|
5.9
|
|
Net income (loss)
available to diluted common shares
|
|
$
|
166.4
|
|
|
$
|
(0.7)
|
|
|
$
|
0.4
|
|
|
$
|
3.3
|
|
|
$
|
(2.8)
|
|
|
$
|
1.3
|
|
|
$
|
3.7
|
|
|
$
|
171.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted income (loss)
per common share
|
|
$
|
9.33
|
|
|
$
|
(0.04)
|
|
|
$
|
0.02
|
|
|
$
|
0.18
|
|
|
$
|
(0.16)
|
|
|
$
|
0.07
|
|
|
$
|
0.21
|
|
|
$
|
9.62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
|
23.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A as % gross
profit (1)
|
|
59.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58.8
|
%
|
Operating margin
(2)
|
|
7.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.1
|
%
|
Pretax margin
(3)
|
|
6.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
372.2
|
|
|
$
|
—
|
|
|
$
|
(0.6)
|
|
|
$
|
(4.3)
|
|
|
$
|
3.7
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
371.0
|
|
Same Store SG&A
as % gross profit (1)
|
|
58.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Same Store income
(loss) from operations
|
|
$
|
242.8
|
|
|
$
|
—
|
|
|
$
|
0.6
|
|
|
$
|
4.3
|
|
|
$
|
(3.7)
|
|
|
$
|
1.7
|
|
|
$
|
—
|
|
|
$
|
245.7
|
|
Same Store operating
margin (2)
|
|
7.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.2
|
%
|
|
(1)
Adjusted SG&A as % of gross profit excludes the impact of
SG&A reconciling items above.
|
(2)
Adjusted operating margin excludes the impact of SG&A
reconciling items above and asset impairment charges.
|
(3)
Adjusted pretax margin excludes the impact of SG&A reconciling
items, asset impairment charges, a non-cash gain on interest rate
swaps and loss on extinguishment of debt .
|
Group 1
Automotive, Inc.
|
Reconciliation of
Certain Non-GAAP Financial Measures - Consolidated
|
(Unaudited)
|
(In
millions, except per share data)
|
|
|
|
|
|
Three Months Ended
September 30, 2020
|
|
|
U.S.
GAAP
|
|
Loss
on
extinguishment
of
debt
|
|
Non-GAAP
adjusted
|
Loss on
extinguishment of debt
|
|
$
|
3.3
|
|
|
$
|
(3.3)
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
Income before income
taxes
|
|
$
|
161.0
|
|
|
$
|
3.3
|
|
|
$
|
164.3
|
|
Less: Provision for
income taxes
|
|
34.6
|
|
|
0.8
|
|
|
35.3
|
|
Net income
|
|
126.4
|
|
|
2.6
|
|
|
129.0
|
|
Less: Earnings
allocated to participating securities
|
|
4.5
|
|
|
0.1
|
|
|
4.6
|
|
Net income available
to diluted common shares
|
|
$
|
121.9
|
|
|
$
|
2.6
|
|
|
$
|
124.4
|
|
|
|
|
|
|
|
|
Diluted income per
common share
|
|
$
|
6.83
|
|
|
$
|
0.14
|
|
|
$
|
6.97
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
|
21.5
|
%
|
|
|
|
21.5
|
%
|
|
|
|
|
|
|
|
Pretax margin
(1)
|
|
5.3
|
%
|
|
|
|
5.4
|
%
|
|
(1)
Adjusted pretax margin excludes the impact of loss on
extinguishment of debt.
|
Group 1
Automotive, Inc.
|
Reconciliation of
Certain Non-GAAP Financial Measures - Consolidated
|
(Unaudited)
|
(In
millions, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30, 2021
|
|
|
U.S.
GAAP
|
|
Non-cash loss on
interest
rate
swaps
|
|
Catastrophic
events
|
|
Dealership and
real estate transactions
|
|
Acquisition
costs
|
|
Legal
matters
|
|
Asset
impairments
|
|
Tax rate
changes
|
|
Loss on
extinguishment of debt
|
|
Non-GAAP
adjusted
|
SG&A
expenses
|
|
$
|
1,080.3
|
|
|
$
|
—
|
|
|
$
|
(2.8)
|
|
|
$
|
1.1
|
|
|
$
|
(4.3)
|
|
|
$
|
4.7
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,078.9
|
|
Asset
impairments
|
|
$
|
1.7
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(1.7)
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Income (loss) from
operations
|
|
$
|
665.3
|
|
|
$
|
—
|
|
|
$
|
2.8
|
|
|
$
|
(1.1)
|
|
|
$
|
4.3
|
|
|
$
|
(4.7)
|
|
|
$
|
1.7
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
668.3
|
|
Floorplan interest
expense
|
|
$
|
21.2
|
|
|
$
|
(1.4)
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
19.7
|
|
Loss on
extinguishment of debt
|
|
$
|
3.8
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(3.8)
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before
income taxes
|
|
$
|
599.6
|
|
|
$
|
1.4
|
|
|
$
|
2.8
|
|
|
$
|
(1.1)
|
|
|
$
|
4.3
|
|
|
$
|
(4.7)
|
|
|
$
|
1.7
|
|
|
$
|
—
|
|
|
$
|
3.8
|
|
|
$
|
608.0
|
|
Less: Provision
(benefit) for income taxes
|
|
134.6
|
|
|
0.3
|
|
|
0.6
|
|
|
(0.3)
|
|
|
0.9
|
|
|
(1.0)
|
|
|
0.4
|
|
|
1.9
|
|
|
—
|
|
|
137.5
|
|
Net income
(loss)
|
|
465.0
|
|
|
1.1
|
|
|
2.2
|
|
|
(0.8)
|
|
|
|
3.4
|
|
|
(3.7)
|
|
|
1.3
|
|
|
(1.9)
|
|
|
3.8
|
|
|
470.4
|
|
Less: Earnings (loss)
allocated to participating securities
|
|
15.6
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
0.1
|
|
|
(0.1)
|
|
|
—
|
|
|
(0.1)
|
|
|
0.1
|
|
|
15.8
|
|
Net income (loss)
available to diluted common shares
|
|
$
|
449.4
|
|
|
$
|
1.1
|
|
|
$
|
2.1
|
|
|
$
|
(0.8)
|
|
|
$
|
3.3
|
|
|
$
|
(3.5)
|
|
|
$
|
1.3
|
|
|
$
|
(1.8)
|
|
|
$
|
3.7
|
|
|
$
|
454.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted income (loss)
per common share
|
|
$
|
25.21
|
|
|
$
|
0.06
|
|
|
$
|
0.12
|
|
|
$
|
(0.05)
|
|
|
$
|
0.18
|
|
|
$
|
(0.20)
|
|
|
$
|
0.07
|
|
|
$
|
(0.10)
|
|
|
$
|
0.21
|
|
|
$
|
25.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
|
22.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A as % gross
profit (1)
|
|
59.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
59.8
|
%
|
Operating margin
(2)
|
|
6.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.5
|
%
|
Pretax margin
(3)
|
|
5.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
1,061.8
|
|
|
$
|
—
|
|
|
$
|
(2.8)
|
|
|
$
|
—
|
|
|
$
|
(4.3)
|
|
|
$
|
4.7
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,059.4
|
|
Same Store SG&A
as % gross profit (1)
|
|
59.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
59.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Same Store income
(loss) from operations
|
|
$
|
658.3
|
|
|
$
|
—
|
|
|
$
|
2.8
|
|
|
$
|
—
|
|
|
$
|
4.3
|
|
|
$
|
(4.7)
|
|
|
$
|
1.7
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
662.5
|
|
Same Store operating
margin (2)
|
|
6.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.6
|
%
|
|
(1)
Adjusted SG&A as % of gross profit excludes the impact of
SG&A reconciling items above.
|
(2)
Adjusted operating margin excludes the impact of SG&A
reconciling items above and asset impairment charges.
|
(3)
Adjusted pretax margin excludes the impact of SG&A reconciling
items, asset impairment charges, a non-cash loss on interest rate
swaps and loss on extinguishment of debt.
|
Group 1
Automotive, Inc.
|
Reconciliation of
Certain Non-GAAP Financial Measures - Consolidated
|
(Unaudited)
|
(In
millions, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30, 2020
|
|
|
U.S.
GAAP
|
|
Severance
costs
|
|
Out-of-period
adjustment
|
|
Asset
impairments
|
|
Loss
on
extinguishment
of
debt
|
|
Non-GAAP
adjusted
|
SG&A
expenses
|
|
$
|
870.9
|
|
|
$
|
(2.1)
|
|
|
$
|
(10.6)
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
858.3
|
|
Asset
impairments
|
|
$
|
23.8
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(23.8)
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Income from
operations
|
|
$
|
336.0
|
|
|
$
|
2.1
|
|
|
$
|
10.6
|
|
|
$
|
23.8
|
|
|
$
|
—
|
|
|
$
|
372.5
|
|
Loss on
extinguishment of debt
|
|
$
|
13.7
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(13.7)
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income
taxes
|
|
$
|
242.2
|
|
|
$
|
2.1
|
|
|
$
|
10.6
|
|
|
$
|
23.8
|
|
|
$
|
13.7
|
|
|
$
|
292.4
|
|
Less: Provision for
income taxes
|
|
55.8
|
|
|
0.3
|
|
|
0.8
|
|
|
3.3
|
|
|
3.0
|
|
|
63.3
|
|
Net income
|
|
186.4
|
|
|
1.8
|
|
|
9.7
|
|
|
20.6
|
|
|
10.7
|
|
|
229.2
|
|
Less: Earnings
allocated to participating securities
|
|
6.7
|
|
|
0.1
|
|
|
0.4
|
|
|
0.7
|
|
|
0.4
|
|
|
8.2
|
|
Net income available
to diluted common shares
|
|
$
|
179.7
|
|
|
$
|
1.7
|
|
|
$
|
9.4
|
|
|
$
|
19.8
|
|
|
$
|
10.3
|
|
|
$
|
220.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted income per
common share
|
|
$
|
10.08
|
|
|
$
|
0.10
|
|
|
$
|
0.53
|
|
|
$
|
1.11
|
|
|
$
|
0.58
|
|
|
$
|
12.40
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
|
23.1
|
%
|
|
|
|
|
|
|
|
|
|
21.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SG&A as % gross
profit (1)
|
|
67.7
|
%
|
|
|
|
|
|
|
|
|
|
66.7
|
%
|
Operating margin
(2)
|
|
4.3
|
%
|
|
|
|
|
|
|
|
|
|
4.7
|
%
|
Pretax margin
(3)
|
|
3.1
|
%
|
|
|
|
|
|
|
|
|
|
3.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
856.1
|
|
|
$
|
(2.1)
|
|
|
$
|
(10.6)
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
843.5
|
|
Same Store SG&A
as % gross profit (1)
|
|
67.4
|
%
|
|
|
|
|
|
|
|
|
|
66.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Same Store income
from operations
|
|
$
|
335.6
|
|
|
$
|
2.1
|
|
|
$
|
10.6
|
|
|
$
|
23.8
|
|
|
$
|
—
|
|
|
$
|
372.1
|
|
Same Store operating
margin (2)
|
|
4.3
|
%
|
|
|
|
|
|
|
|
|
|
4.8
|
%
|
|
(1)
Adjusted SG&A as % of gross profit excludes the impact of
SG&A reconciling items above.
|
(2)
Adjusted operating margin excludes the impact of SG&A
reconciling items above and asset impairment charges.
|
(3)
Adjusted pretax margin excludes the impact of SG&A reconciling
items and asset impairment charges, as well as loss on
extinguishment of debt.
|
Group 1
Automotive, Inc.
|
Reconciliation of
Certain Non-GAAP Financial Measures - U.S.
|
(Unaudited)
|
(In
millions)
|
|
|
|
|
|
Three Months Ended
September 30, 2021
|
|
|
U.S.
GAAP
|
|
Catastrophic
events
|
|
Acquisition
costs
|
|
Legal
settlements
|
|
Non-GAAP
adjusted
|
SG&A
expenses
|
|
$
|
308.7
|
|
|
$
|
(0.6)
|
|
|
$
|
(3.8)
|
|
|
$
|
3.7
|
|
|
$
|
308.1
|
|
SG&A as % gross
profit (1)
|
|
57.7
|
%
|
|
|
|
|
|
|
|
57.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
304.5
|
|
|
$
|
(0.6)
|
|
|
$
|
(3.8)
|
|
|
$
|
3.7
|
|
|
$
|
303.9
|
|
Same Store SG&A
as % gross profit (1)
|
|
57.7
|
%
|
|
|
|
|
|
|
|
57.6
|
%
|
|
|
Nine Months Ended
September 30, 2021
|
|
|
U.S.
GAAP
|
|
Catastrophic
events
|
|
Dealership
and real
estate
transactions
|
|
Acquisition
costs
|
|
Legal
matters
|
|
Non-GAAP
adjusted
|
SG&A
expenses
|
|
$
|
883.0
|
|
|
$
|
(2.8)
|
|
|
$
|
1.7
|
|
|
$
|
(3.8)
|
|
|
$
|
4.7
|
|
|
$
|
882.8
|
|
SG&A as % gross
profit (1)
|
|
58.4
|
%
|
|
|
|
|
|
|
|
|
|
58.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
875.9
|
|
|
$
|
(2.8)
|
|
|
$
|
—
|
|
|
$
|
(3.8)
|
|
|
$
|
4.7
|
|
|
$
|
874.1
|
|
Same Store SG&A
as % gross profit (1)
|
|
58.5
|
%
|
|
|
|
|
|
|
|
|
|
58.4
|
%
|
|
|
Nine Months Ended
September 30, 2020
|
|
|
U.S.
GAAP
|
|
Out-of-period
adjustment
|
|
Non-GAAP
adjusted
|
SG&A
expenses
|
|
$
|
706.0
|
|
|
$
|
(10.6)
|
|
|
$
|
695.4
|
|
SG&A as % gross
profit (1)
|
|
65.3
|
%
|
|
|
|
64.3
|
%
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
695.8
|
|
|
$
|
(10.6)
|
|
|
$
|
685.2
|
|
Same Store SG&A
as % gross profit (1)
|
|
65.1
|
%
|
|
|
|
64.1
|
%
|
|
(1)
Adjusted SG&A as % of gross profit excludes the impact of
SG&A reconciling items above.
|
Group 1
Automotive, Inc.
|
Reconciliation of
Certain Non-GAAP Financial Measures - U.K.
|
(Unaudited)
|
(In
millions)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30, 2021
|
|
|
U.S.
GAAP
|
|
Acquisition
costs
|
|
Non-GAAP
Adjusted
|
SG&A
expenses
|
|
$
|
67.6
|
|
|
$
|
(0.6)
|
|
|
$
|
67.0
|
|
SG&A as % gross
profit (1)
|
|
65.2
|
%
|
|
|
|
64.6
|
%
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
58.9
|
|
|
$
|
(0.6)
|
|
|
$
|
58.4
|
|
Same Store SG&A
as % gross profit (1)
|
|
62.9
|
%
|
|
|
|
62.3
|
%
|
|
|
Nine Months Ended
September 30, 2021
|
|
|
U.S.
GAAP
|
|
Dealership
and real
estate
transactions
|
|
Acquisition
costs
|
|
Non-GAAP
Adjusted
|
SG&A
expenses
|
|
$
|
173.3
|
|
|
$
|
(0.6)
|
|
|
$
|
(0.6)
|
|
|
$
|
172.1
|
|
SG&A as % gross
profit (1)
|
|
67.1
|
%
|
|
|
|
|
|
66.7
|
%
|
|
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
162.0
|
|
|
$
|
—
|
|
|
$
|
(0.6)
|
|
|
$
|
161.4
|
|
Same Store SG&A
as % gross profit (1)
|
|
65.9
|
%
|
|
|
|
|
|
65.7
|
%
|
|
|
Nine Months Ended
September 30, 2020
|
|
|
U.S.
GAAP
|
|
Severance
costs
|
|
Non-GAAP
Adjusted
|
SG&A
expenses
|
|
$
|
141.8
|
|
|
$
|
(1.2)
|
|
|
$
|
140.6
|
|
SG&A as % gross
profit (1)
|
|
78.0
|
%
|
|
|
|
77.3
|
%
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
137.3
|
|
|
$
|
(1.2)
|
|
|
$
|
136.1
|
|
Same Store SG&A
as % gross profit (1)
|
|
77.3
|
%
|
|
|
|
76.6
|
%
|
|
(1)
Adjusted SG&A as % of gross profit excludes the impact of
SG&A reconciling items above.
|
Group 1
Automotive, Inc.
|
Reconciliation of
Certain Non-GAAP Financial Measures - Brazil
|
(Unaudited)
|
(In
millions)
|
|
|
|
|
|
Nine Months Ended
September 30, 2020
|
|
|
U.S.
GAAP
|
|
Severance
costs
|
|
Non-GAAP
adjusted
|
SG&A
expenses
|
|
$
|
23.1
|
|
|
$
|
(0.9)
|
|
|
$
|
22.2
|
|
SG&A as % gross
profit (1)
|
|
95.3
|
%
|
|
|
|
91.7
|
%
|
|
|
|
|
|
|
|
Same Store SG&A
expenses
|
|
$
|
23.0
|
|
|
$
|
(0.9)
|
|
|
$
|
22.1
|
|
Same Store SG&A
as % gross profit (1)
|
|
95.1
|
%
|
|
|
|
91.4
|
%
|
|
(1)
Adjusted SG&A as % of gross profit excludes the impact of
SG&A reconciling items above.
|
View original
content:https://www.prnewswire.com/news-releases/group-1-automotive-announces-record-third-quarter-2021-financial-results-301410401.html
SOURCE Group 1 Automotive, Inc.