Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Group 1 Automotive (GPI) Q2 Earnings Beat Estimates, Up Y/Y

By Zacks Investment ResearchStock MarketsJul 26, 2019 08:51AM ET
www.investing.com/analysis/group-1-automotive-gpi-q2-earnings-beat-estimates-up-yy-200445698
Group 1 Automotive (GPI) Q2 Earnings Beat Estimates, Up Y/Y
By Zacks Investment Research   |  Jul 26, 2019 08:51AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Group 1 Automotive, Inc. (NYSE:GPI) reported adjusted earnings per share of $2.83 in second-quarter 2019, beating the Zacks Consensus Estimate of $2.74. The bottom line improved from the prior-year quarter’s number of $2.45. Results were aided by a stellar performance in the United States despite softness in sales in the new vehicle market.

Reportedly, the company’s net income decreased 12.8% year over year to $49.2 million. Revenues of $3.01 billion increased 2.1% year over year. Revenues beat the Zacks Consensus Estimate of $2.9 billion.

Revenues from new-vehicle retail sale rose 0.6% to $1.57 billion. The same from used-vehicle retail sale increased 2.1% to $838.9 million. Also, revenues from wholesale used-vehicle sale increased 3.4% to $96 million.

In the Parts and Service business, the top line improved 5.6% to $378.2 million. Revenues from the Finance and Insurance business rose 10.6% to $127.3 million.

Segments in Detail

Revenues in the U.S. business segment increased 15.1% year over year to $2.28 billion. The segment’s gross profit rose 7.4% year over year to $336.7 million. In the reported quarter, retail new-vehicle, retail used-vehicle and wholesale used-vehicle units sold were 20,318; 30,477 and 6,828, respectively.

Revenues fell 2.5% year over year to $614.4 million in the U.K. business segment. Gross profit was $64.1 million, marking a 14.3% fall from the second quarter of 2018. In the quarter, retail new-vehicle, retail used-vehicle and wholesale used-vehicle units sold were 9,266; 8,280 and 5,772, respectively.

Financial Details

Group 1 Automotive’s cash and cash equivalents increased to $37.7 million as of Jun 30, 2019, from $15.9 million as of Dec 31, 2018.

Zacks Rank & Stocks to Consider

Group 1 Automotive currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the auto space are Copart, Inc (NASDAQ:CPRT) , CarMax, Inc (NYSE:KMX) and Advance Auto Parts, Inc. (NYSE:AAP) . While Copart sports a Zacks Rank #1 (Strong Buy), CarMax and Advance Auto Parts has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Copart has an expected long-term growth rate of 20%. In the past year, shares of the company have shot up 39%.

CarMax has an expected long-term growth rate of 12.6%. In the past year, shares of the company have rallied 19.4%.

Advance Auto Parts has an expected long-term growth rate of 11.6%. In the past year, shares of the company have improved 7.3%.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft (NASDAQ:MSFT) in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.

See 7 breakthrough stocks now>>



Group 1 Automotive, Inc. (GPI): Free Stock Analysis Report

CarMax, Inc. (KMX): Free Stock Analysis Report

Advance Auto Parts, Inc. (AAP): Free Stock Analysis Report

Copart, Inc. (CPRT): Free Stock Analysis Report

Original post

Zacks Investment Research
Group 1 Automotive (GPI) Q2 Earnings Beat Estimates, Up Y/Y
 

Related Articles

Group 1 Automotive (GPI) Q2 Earnings Beat Estimates, Up Y/Y

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email