Group 1 Automotive, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 31, 2024 at 04:31 pm IST
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Group 1 Automotive, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 4,480 million compared to USD 4,069 million a year ago. Net income was USD 108.8 million compared to USD 157 million a year ago. Diluted earnings per share from continuing operations was USD 7.87 compared to USD 10.75 a year ago. Diluted earnings per share was USD 7.87 compared to USD 10.76 a year ago.
For the full year, revenue was USD 17,873.7 million compared to USD 16,222.1 million a year ago. Net income was USD 601.6 million compared to USD 751.5 million a year ago. Diluted earnings per share from continuing operations was USD 42.75 compared to USD 47.31 a year ago. Diluted earnings per share was USD 42.73 compared to USD 47.14 a year ago.
Group 1 Automotive, Inc. is an international automotive retailer. The Company operates through two segments: the U.S. and the U.K. Through its dealerships and omnichannel platform, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts retail and wholesale. The Company owns and operates approximately 202 automotive dealerships, 265 franchises, and 43 collision centers in the United States and the United Kingdom that offer 35 brands of automobiles. It sells retail used vehicles directly to its customers at its dealerships and via AcceleRide, and wholesale used vehicles at third party auctions. Its operations are primarily located in areas, including Texas, Massachusetts, Oklahoma, California, Georgia, New Mexico, Maine, New Jersey, New Hampshire, Florida, South Carolina, Louisiana, Kansas, New York, Alabama, Maryland, and Mississippi.