Group 1 Automotive Inc (NYSE:GPI) reported fourth-quarter financial results before the market open on Wednesday. Here’s a rundown of the report.
Total revenue was up 23.8% on a year-over-year basis. New vehicle units sold came in at 57,939 and used vehicles sold totaled 55,337, up 26.4% and 23.9%, respectively.
“Our U.S. team continues to execute at a high level. Our parts and service revenue growth of 12.2% was the best quarter in the last four quarters. SG&A leverage was outstanding, and our new vehicle PRUs were up sequentially on a U.S. as reported basis,” said Daryl Kenningham, president and CEO of Group 1.
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Group 1 said it repurchased 80,300 shares during the quarter for a total of $32 million. As of Dec. 31, the company had $476.1 million remaining on its repurchase program.
Management will further discuss the quarter on a call with analysts and investors at 10 a.m. ET.
GPI Price Action: Group 1 shares were up 0.7% at $462 at the time of publication Wednesday, according to Benzinga Pro.
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