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Group 1 Automotive

800 Gessner
Houston, TX 77024

  • Sales: (713) 647-5700
Investor Relations

Group 1 Automotive Announces Third Quarter 2019 Financial Results

U.S. Revenue Jumps 10% Driven by 15% Used Vehicle Growth

HOUSTON, Oct. 24, 2019 /PRNewswire/ -- Group 1 Automotive, Inc. (NYSE: GPI), ("Group 1" or the "Company"), an international, Fortune 500 automotive retailer, today reported 2019 third quarter net income of $38.0 million, diluted earnings per common share of $2.04, adjusted net income (a non-GAAP measure) of $56.4 million, and adjusted diluted earnings per common share (a non-GAAP measure) of $3.02.  The Company's 2019 third quarter total revenue was an all-time quarterly record of $3.1 billion.

Third quarter 2019 adjusted net income and diluted earnings per share exclude approximately $18.4 million of net after-tax adjustments, or $0.98 per common share, for non-core items.  These adjustments consist of catastrophic event costs of approximately $9.0 million after-tax, or $0.48 per common share, non-cash asset impairments of $8.3 million, or $0.44 per common share, and a net loss on real estate and dealership transactions of $1.1 million, or $0.06 per common share.  Reconciliations of non-GAAP financial measures are included in the attached financial tables.

"Our achievement of new quarterly records for total revenue and adjusted EPS in a flat U.S. new vehicle sales market, as well as a U.K. market in political turmoil, is a testimony to the strong operating execution of our entire team - especially in the U.S.," said Earl J. Hesterberg, Group 1's president and chief executive officer.  "Same Store U.S. gross profit growth of 16.6% in total used vehicles and 9.9% in parts and service are both remarkable performances, which drove one of the best quarters in our Company's history."

Consolidated Results for Third Quarter 2019 (year-over-year comparable basis)

For ease of comparison, we have included constant currency metrics (a non-GAAP measure) both below (shown in parenthesis) and in the financial tables that follow:

  • Total revenue increased 7.9 percent (9.1 percent), to an all-time quarterly record of $3.1 billion.
  • Total gross profit increased 7.0 percent (7.9 percent), to an all-time quarterly record of $465.6 million.
  • New vehicle revenues increased 7.3 percent (8.4 percent) on a 2.4 percent increase in unit sales. New vehicle gross profit decreased 3.1 percent (1.9 percent), to $75.2 million. U.S. Same Store new unit sales increased 2.9 percent, outperforming the industry, which was about flat.
  • Retail used vehicle revenues increased 9.8 percent (11.1 percent) on 9.6 percent higher unit sales. Retail used vehicle gross profit increased 8.2 percent (9.2 percent), to $54.2 million. Total used vehicle gross profit was up 9.6 percent (10.5 percent), to $54.6 million. U.S. Same Store retail used vehicle revenue increased 14.1 percent, driven by an 11.9 percent increase in unit sales and retail used gross profit increased 16.4 percent, reflecting the volume growth and a $54 per unit improvement in gross profit, to $1,386 per unit.
  • Parts and service gross profit increased 8.7 percent (9.6 percent) on revenue growth of 8.2 percent (9.1 percent). U.S. Same Store parts and service revenues and gross profit grew 9.6 percent and 9.9 percent, respectively.
  • Finance and Insurance (F&I) gross profit per retail unit (PRU) increased 3.9 percent (4.5 percent), to $1,485. U.S. Same Store F&I gross profit PRU grew 3.2 percent, to $1,751.
  • Selling, General and Administrative (SG&A) expenses as a percent of gross profit increased 320 basis points, to 76.0 percent. Adjusted Same Store SG&A as a percent of gross profit increased 10 basis points, to 72.8 percent.

 

Segment Results for Third Quarter 2019 (year-over-year comparable basis)

  • United States:
    The Company's U.S. operations accounted for 77.7 percent of total revenues and 83.1 percent of total gross profit.  Total U.S. revenues were $2.4 billion, an increase of 10.1 percent.  Retail used vehicle revenues increased 15.0 percent, F&I revenues increased 10.9 percent, parts and service revenues increased 8.8 percent, and new vehicle revenues increased 7.9 percent. 

    Total gross profit grew 9.8 percent, to $387.0 million.  Parts and service Same Store gross profit grew an all-time record of 9.9 percent, to $168.0 million.  Same Store used vehicle gross profit grew 16.4 percent, to $42.5 million.  Same Store used retail unit sales grew 11.9 percent, as Val-U-Line ® retail unit sales grew 10.3 percent and represented 10.8 percent of our quarterly used unit sales.  Same Store total used vehicle gross profit PRU increased $55, or 5.1 percent, to $1,127.  Same Store F&I gross profit PRU increased $54, or 3.2 percent per unit, to $1,751.

    SG&A expenses as a percent of gross profit increased 500 basis points, to 73.7 percent.  Same Store adjusted SG&A expenses as a percent of gross profit increased 40 basis points, to 70.4 percent.

    "Group 1's strategic initiatives in the areas of omnichannel capabilities, expanded used vehicle offerings with our Val-U-Line® brand, and increased service capacity have been the key drivers of significantly improved profitability in our U.S. operations," said Daryl Kenningham, Group 1's president of U.S. operations.  "We are continuing to demonstrate that by focusing on used vehicles and aftersales operations, we can deliver significant profit improvements in our U.S. business."
     
  • United Kingdom:
    The Company's U.K. operations accounted for 18.7 percent of total revenues and 14.0 percent of total gross profit.  Total Same Store U.K. revenues decreased 2.3 percent (increased 3.2 percent), to $547.6 million.  Same Store total gross profit decreased 8.7 percent (decreased 3.6 percent), to $59.6 million.  Continued weakness in consumer confidence and the overall auto market due to Brexit continues to exert downward pressure on new vehicle sales volumes and margins.

    SG&A expenses as a percent of gross profit increased 160 basis points, to 88.5 percent.  Same Store SG&A expenses as a percent of gross profit increased 40 basis points, to 85.7 percent.  On a sequential basis, adjusted SG&A as a percent of gross profit declined 440 basis points as cost reduction actions began to gain traction.
     
  • Brazil:
    The Company's Brazilian operations accounted for 3.6 percent of total revenues and 2.9 percent of total gross profit.  The Company's Same Store new vehicle revenues increased 5.1 percent (6.1 percent), with units down 1.3 percent due to a product cycle lull in certain key brands.  Same Store total revenues increased 9.5 percent (10.2 percent), with the increase driven by constant currency revenue growth of 27.8 percent in total used vehicles, 6.1 percent in new vehicles, and 5.4 percent in parts & service.  SG&A expenses as a percent of gross profit decreased 25.6 percentage points, to 81.6 percent.  Adjusted Same Store SG&A expenses as a percent of gross profit decreased 130 basis points, to 81.8 percent.

 

Corporate Development

In October 2019, the Company opened a four-story flagship Jaguar-Land Rover dealership at the junction of two of the busiest roadways in northwest London.  This open point increases the Company's Jaguar-Land Rover dealership count to four in the U.K. and nine worldwide.  The new Jaguar-Land Rover dealership is expected to generate approximately $85 million in annual revenues. 

In September 2019, the Company opened a new standalone collision center in Atlanta, Georgia.  We now operate 30 collision centers in the U.S. and continue to explore opportunities for further expansion.

Also in September 2019, the Company disposed of a Volkswagen franchise in Texas, which generated approximately $40 million in trailing-twelve-month revenues.

Year-to-date 2019, the Company has acquired 13 franchises, which are expected to generate an estimated $340 million in annual revenues; and the Company has disposed of 12 franchises that generated approximately $240 million in trailing-twelve-month revenues.

Third Quarter 2019 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 financial results and the Company's outlook and strategy.

The conference call will be simulcast live on the Internet at www.group1auto.com, then click on 'Investor Relations' and then 'Events' or through this link: http://www.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:

3340290

A telephonic replay will be available following the call through October 31, 2019 by dialing:

Domestic:

1-877-344-7529

International:

1-412-317-0088

Replay ID:

10135910

ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 184 automotive dealerships, 240 franchises, and 49 collision centers in the United States, the United Kingdom and Brazil that offer 31 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 www.group1corp.com, www.group1auto.com, www.group1collision.com, www.facebook.com/group1auto, and www.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 goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions 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) our ability to retain key personnel, and (j) uncertainty of the outcome and potential impact of Brexit. 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 SEC, 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, 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 income 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 disclosures are reported as zero balances or may not compute due to rounding.

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 amounts)

                 
   

Three Months Ended September 30,

   

2019

 

2018

 

Increase/(Decrease)

 

% Change

REVENUES

               

New vehicle retail sales

 

$

1,652.2

   

$

1,539.5

   

$

112.7

   

7.3

%

Used vehicle retail sales

 

869.7

   

792.4

   

77.3

   

9.8

%

Used vehicle wholesale sales

 

85.3

   

86.6

   

(1.3)

   

(1.5)

%

Parts and service sales

 

383.5

   

354.5

   

29.0

   

8.2

%

Finance, insurance and other, net

 

127.6

   

116.1

   

11.5

   

9.9

%

Total revenues

 

3,118.3

   

2,889.1

   

229.2

   

7.9

%

COST OF SALES

               

New vehicle retail sales

 

1,577.0

   

1,461.9

   

115.1

   

7.9

%

Used vehicle retail sales

 

815.5

   

742.3

   

73.2

   

9.9

%

Used vehicle wholesale sales

 

84.9

   

86.9

   

(2.0)

   

(2.3)

%

Parts and service sales

 

175.3

   

162.9

   

12.4

   

7.6

%

Total cost of sales

 

2,652.7

   

2,454.0

   

198.7

   

8.1

%

GROSS PROFIT

 

465.6

   

435.1

   

30.5

   

7.0

%

Selling, general and administrative expenses

 

354.0

   

316.8

   

37.2

   

11.7

%

Depreciation and amortization expense

 

18.0

   

16.9

   

1.1

   

6.5

%

Asset impairments

 

10.3

   

23.2

   

(12.9)

   

(55.6)

%

INCOME (LOSS) FROM OPERATIONS

 

83.3

   

78.2

   

5.1

   

6.5

%

INTEREST EXPENSE

               

Floorplan interest expense

 

15.4

   

14.7

   

0.7

   

4.8

%

Other interest expense, net

 

18.9

   

19.1

   

(0.2)

   

(1.0)

%

INCOME (LOSS) BEFORE INCOME TAXES

 

49.0

   

44.4

   

4.6

   

10.4

%

(Benefit) provision for income taxes

 

11.0

   

9.6

   

1.4

   

14.6

%

NET INCOME (LOSS)

 

$

38.0

   

$

34.8

   

$

3.2

   

9.2

%

Less: earnings allocated to participating securities

 

1.4

   

1.2

   

0.2

   

16.7

%

Earnings available to diluted common shares

 

$

36.6

   

$

33.6

   

$

3.0

   

8.9

%

DILUTED EARNINGS (LOSS) PER SHARE

 

$

2.04

   

$

1.74

   

$

0.30

   

17.2

%

Weighted average dilutive common shares outstanding

 

18.0

   

19.3

   

(1.3)

   

(6.7)

%

Weighted average participating securities

 

0.7

   

0.6

   

0.1

   

16.7

%

Total weighted average shares

 

18.7

   

19.9

   

(1.2)

   

(6.0)

%

Effective tax rate

 

22.4

%

 

21.6

%

 

0.8

%

   

 

 

Group 1 Automotive, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In millions, except per share amounts)

                 
   

Nine Months Ended September 30,

   

2019

 

2018

 

Increase/(Decrease)

 

% Change

REVENUES

               

New vehicle retail sales

 

$

4,632.2

   

$

4,608.7

   

$

23.5

   

0.5

%

Used vehicle retail sales

 

2,527.8

   

2,394.8

   

133.0

   

5.6

%

Used vehicle wholesale sales

 

273.4

   

283.4

   

(10.0)

   

(3.5)

%

Parts and service sales

 

1,130.8

   

1,062.1

   

68.7

   

6.5

%

Finance, insurance and other, net

 

368.2

   

343.5

   

24.7

   

7.2

%

Total revenues

 

8,932.4

   

8,692.5

   

239.9

   

2.8

%

COST OF SALES

               

New vehicle retail sales

 

4,415.7

   

4,379.1

   

36.6

   

0.8

%

Used vehicle retail sales

 

2,372.5

   

2,250.0

   

122.5

   

5.4

%

Used vehicle wholesale sales

 

272.7

   

281.8

   

(9.1)

   

(3.2)

%

Parts and service sales

 

520.1

   

488.6

   

31.5

   

6.4

%

Total cost of sales

 

7,581.0

   

7,399.5

   

181.5

   

2.5

%

GROSS PROFIT

 

1,351.4

   

1,293.0

   

58.4

   

4.5

%

Selling, general and administrative expenses

 

1,020.4

   

949.2

   

71.2

   

7.5

%

Depreciation and amortization expense

 

53.0

   

50.0

   

3.0

   

6.0

%

Asset impairments

 

10.8

   

27.4

   

(16.6)

   

(60.6)

%

INCOME (LOSS) FROM OPERATIONS

 

267.2

   

266.4

   

0.8

   

0.3

%

INTEREST EXPENSE

               

Floorplan interest expense

 

47.0

   

43.3

   

3.7

   

8.5

%

Other interest expense, net

 

55.8

   

57.4

   

(1.6)

   

(2.8)

%

INCOME (LOSS) BEFORE INCOME TAXES

 

164.4

   

165.7

   

(1.3)

   

(0.8)

%

(Benefit) provision for income taxes

 

38.5

   

38.6

   

(0.1)

   

(0.3)

%

NET INCOME (LOSS)

 

$

125.9

   

$

127.1

   

$

(1.2)

   

(0.9)

%

Less: earnings allocated to participating securities

 

4.7

   

4.3

   

0.4

   

9.3

%

Earnings available to diluted common shares

 

$

121.2

   

$

122.8

   

$

(1.6)

   

(1.3)

%

DILUTED EARNINGS (LOSS) PER SHARE

 

$

6.77

   

$

6.18

   

$

0.59

   

9.5

%

Weighted average dilutive common shares outstanding

 

17.9

   

19.9

   

(2.0)

   

(10.1)

%

Weighted average participating securities

 

0.7

   

0.7

   

   

%

Total weighted average shares

 

18.6

   

20.6

   

(2.0)

   

(9.7)

%

Effective tax rate

 

23.4

%

 

23.3

%

 

0.1

%

   

 

 

 

Group 1 Automotive, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(Dollars in millions)

                 
   

September 30,
 2019

 

December 31,
2018

 

Increase/(Decrease)

 

% Change

ASSETS

CURRENT ASSETS

               

Cash and cash equivalents

 

$

41.0

   

$

15.9

   

$

25.1

   

157.9

%

Contracts in transit and vehicle receivables, net

 

256.2

   

265.7

   

(9.5)

   

(3.6)

%

Accounts and notes receivable, net

 

222.2

   

194.0

   

28.2

   

14.5

%

Inventories, net

 

1,792.7

   

1,844.1

   

(51.4)

   

(2.8)

%

Prepaid expenses and other current assets

 

74.4

   

82.7

   

(8.3)

   

(10.0)

%

TOTAL CURRENT ASSETS

 

2,386.5

   

2,402.4

   

(15.9)

   

(0.7)

%

Property and equipment, net

 

1,484.8

   

1,347.8

   

137.0

   

10.2

%

Operating lease assets

 

204.7

   

   

204.7

   

100.0

%

Goodwill

 

979.0

   

963.9

   

15.1

   

1.6

%

Intangible franchise rights

 

252.9

   

259.6

   

(6.7)

   

(2.6)

%

Other assets

 

21.1

   

27.4

   

(6.3)

   

(23.0)

%

TOTAL ASSETS

 

$

5,329.0

   

$

5,001.1

   

$

327.9

   

6.6

%

                 

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

               

Floorplan notes payable - credit facility and other

 

$

1,224.8

   

$

1,292.5

   

$

(67.7)

   

(5.2)

%

Offset account related to floorplan notes payable - credit facility

 

(25.0)

   

(33.6)

   

8.6

   

(25.6)

%

Floorplan notes payable - manufacturer affiliates

 

410.7

   

417.9

   

(7.2)

   

(1.7)

%

Offset account related to floorplan notes payable - manufacturer affiliates

 

(0.2)

   

(0.1)

   

(0.1)

   

100.0

%

Current maturities of long-term debt

 

66.0

   

93.0

   

(27.0)

   

(29.0)

%

Current operating lease liabilities

 

23.9

   

   

23.9

   

100.0

%

Accounts payable

 

483.3

   

419.4

   

63.9

   

15.2

%

Accrued expenses and other current liabilities

 

213.8

   

197.6

   

16.2

   

8.2

%

TOTAL CURRENT LIABILITIES

 

2,397.3

   

2,386.7

   

10.6

   

0.4

%

5.00% Senior Notes (principal of $550.0)

 

545.1

   

543.7

   

1.4

   

0.3

%

5.25% Senior Notes (principal of $300.0)

 

297.2

   

296.7

   

0.5

   

0.2

%

Acquisition line

 

49.2

   

31.8

   

17.4

   

54.7

%

Real estate related and other long-term debt, net of current maturities

 

356.8

   

366.7

   

(9.9)

   

(2.7)

%

Finance leases, net of current maturities

 

59.7

   

42.5

   

17.2

   

40.5

%

Operating lease liabilities, net of current portion

 

195.5

   

   

195.5

   

100.0

%

Deferred income taxes

 

131.4

   

134.7

   

(3.3)

   

(2.4)

%

Other liabilities

 

110.5

   

102.6

   

7.9

   

7.7

%

STOCKHOLDERS' EQUITY

               

Common stock

 

0.3

   

0.3

   

   

%

Additional paid-in capital

 

291.9

   

292.8

   

(0.9)

   

(0.3)

%

Retained earnings

 

1,499.8

   

1,394.8

   

105.0

   

7.5

%

Accumulated other comprehensive income (loss)

 

(169.5)

   

(137.8)

   

(31.7)

   

23.0

%

Treasury stock

 

(436.2)

   

(454.4)

   

18.2

   

(4.0)

%

TOTAL STOCKHOLDERS' EQUITY

 

1,186.3

   

1,095.7

   

90.6

   

8.3

%

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

 

$

5,329.0

   

$

5,001.1

   

$

327.9

   

6.6

%

 

 

 

Group 1 Automotive, Inc.

Additional Information - Consolidated

(Unaudited)

                   
     

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

     

2019 (%)

 

2018 (%)

 

2019 (%)

 

2018 (%)

New vehicle unit sales geographic mix

             

Region

Geographic Market

               

United States

Texas

 

36.6

   

37.2

   

35.8

   

35.8

 
 

Oklahoma

 

7.1

   

6.7

   

6.7

   

6.2

 
 

California

 

5.6

   

5.8

   

5.6

   

6.2

 
 

Massachusetts

 

5.1

   

5.2

   

4.7

   

4.9

 
 

Georgia

 

4.8

   

4.7

   

4.5

   

4.5

 
 

Florida

 

2.5

   

2.9

   

2.6

   

2.6

 
 

Louisiana

 

2.4

   

2.2

   

2.4

   

2.0

 
 

New Hampshire

 

2.0

   

2.0

   

1.8

   

1.9

 
 

New Jersey

 

1.8

   

1.5

   

1.8

   

1.6

 
 

South Carolina

 

1.8

   

1.6

   

1.7

   

1.6

 
 

Mississippi

 

1.2

   

1.2

   

1.2

   

1.2

 
 

Kansas

 

1.2

   

1.4

   

1.1

   

1.4

 
 

Alabama

 

0.7

   

0.7

   

0.7

   

0.7

 
 

Maryland

 

0.5

   

0.4

   

0.5

   

0.4

 
 

New Mexico

 

0.7

   

0.1

   

0.4

   

0.1

 
     

74.0

   

73.6

   

71.5

   

71.1

 
                   

International

United Kingdom

 

20.9

   

21.4

   

23.0

   

23.9

 
 

Brazil

 

5.1

   

5.0

   

5.5

   

5.0

 
     

100.0

   

100.0

   

100.0

   

100.0

 
                 

New vehicle unit sales brand mix

             

Toyota/Lexus

 

25.7

   

27.1

   

24.6

   

25.0

 

Volkswagen/Audi/Porsche/SEAT/SKODA

 

13.3

   

13.0

   

13.9

   

14.1

 

BMW/MINI

 

11.9

   

11.5

   

12.1

   

12.1

 

Honda/Acura

 

10.5

   

9.5

   

10.6

   

9.3

 

Ford/Lincoln

 

10.6

   

11.0

   

10.6

   

11.1

 

Chevrolet/GMC/Buick/Cadillac

 

6.7

   

5.6

   

6.6

   

5.7

 

Nissan

 

6.1

   

6.8

   

6.1

   

6.5

 

Mercedes-Benz/smart/Sprinter

 

4.9

   

4.2

   

5.1

   

4.7

 

Hyundai/Kia/Genesis

 

3.9

   

4.0

   

3.8

   

3.9

 

Chrysler/Dodge/Jeep/RAM

 

3.7

   

3.9

   

3.4

   

4.0

 

Jaguar/Land Rover

 

1.8

   

1.7

   

2.0

   

1.8

 

Other

 

0.9

   

1.7

   

1.2

   

1.8

 
   

100.0

   

100.0

   

100.0

   

100.0

 

 

 

 

Group 1 Automotive, Inc.

Reported Operating Data - U.S.

(Unaudited)

(Dollars in millions, except per unit amounts)

                 
   

Three Months Ended September 30,

   

2019

 

2018

 

Increase/(Decrease)

 

% Change

Revenues

               

New vehicle retail sales

 

$

1,291.7

   

$

1,196.6

   

$

95.1

   

7.9

%

Used vehicle retail sales

 

657.6

   

572.0

   

85.6

   

15.0

%

Used vehicle wholesale sales

 

45.9

   

40.7

   

5.2

   

12.8

%

Total used

 

703.5

   

612.7

   

90.8

   

14.8

%

Parts and service sales

 

314.9

   

289.3

   

25.6

   

8.8

%

Finance, insurance and other, net

 

112.7

   

101.6

   

11.1

   

10.9

%

Total revenues

 

$

2,422.8

   

$

2,200.2

   

$

222.6

   

10.1

%

Gross profit

               

New vehicle retail sales

 

$

58.6

   

$

57.3

   

$

1.3

   

2.3

%

Used vehicle retail sales

 

43.5

   

37.2

   

6.3

   

16.9

%

Used vehicle wholesale sales

 

0.4

   

0.4

   

   

%

Total used

 

43.9

   

37.6

   

6.3

   

16.8

%

Parts and service sales

 

171.8

   

156.0

   

15.8

   

10.1

%

Finance, insurance and other, net

 

112.7

   

101.6

   

11.1

   

10.9

%

Total gross profit

 

$

387.0

   

$

352.5

   

$

34.5

   

9.8

%

Gross margin

               

New vehicle retail sales

 

4.5

%

 

4.8

%

 

(0.3)

%

   

Used vehicle retail sales

 

6.6

%

 

6.5

%

 

0.1

%

   

Used vehicle wholesale sales

 

0.9

%

 

1.0

%

 

(0.1)

%

   

Total used

 

6.2

%

 

6.1

%

 

0.1

%

   

Parts and service sales

 

54.6

%

 

53.9

%

 

0.7

%

   

Finance, insurance and other, net

 

100.0

%

 

100.0

%

 

%

   

Total gross margin

 

16.0

%

 

16.0

%

 

%

   

Units sold

               

Retail new vehicles sold

 

33,041

   

32,058

   

983

   

3.1

%

Retail used vehicles sold

 

31,505

   

28,125

   

3,380

   

12.0

%

Wholesale used vehicles sold

 

7,565

   

7,118

   

447

   

6.3

%

Total used

 

39,070

   

35,243

   

3,827

   

10.9

%

Average sales price per unit sold

               

New vehicle retail

 

$

39,094

   

$

37,326

   

$

1,768

   

4.7

%

Used vehicle retail

 

$

20,873

   

$

20,338

   

$

535

   

2.6

%

Gross profit per unit sold

               

New vehicle retail sales

 

$

1,774

   

$

1,787

   

$

(13)

   

(0.7)

%

Used vehicle retail sales

 

$

1,381

   

$

1,323

   

$

58

   

4.4

%

Used vehicle wholesale sales

 

$

53

   

$

56

   

$

(3)

   

(5.4)

%

Total used

 

$

1,124

   

$

1,067

   

$

57

   

5.3

%

Finance, insurance and other, net (per retail unit)

 

$

1,746

   

$

1,688

   

$

58

   

3.4

%

Other

               

SG&A expenses

 

$

285.4

   

$

242.2

   

$

43.2

   

17.8

%

Adjusted SG&A expenses (1)

 

$

272.7

   

$

249.0

   

$

23.7

   

9.5

%

SG&A as % gross profit

 

73.7

%

 

68.7

%

 

5.0

%

   

Adjusted SG&A as % gross profit (1)

 

70.5

%

 

70.6

%

 

(0.1)

%

   

Interest expense

               

Floorplan interest expense

 

$

13.4

   

$

12.9

   

$

0.5

   

3.9

%

Less: Floorplan assistance

 

13.2

   

11.7

   

1.5

   

12.8

%

Net floorplan expense

 

$

0.2

   

$

1.2

   

$

(1.0)

   

(83.3)

%

Other interest expense, net

 

$

16.5

   

$

17.2

   

$

(0.7)

   

(4.1)

%

 

   

(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.

Reported Operating Data - U.S.

(Unaudited)

(Dollars in millions, except per unit amounts)

                 
   

Nine Months Ended September 30,

   

2019

 

2018

 

Increase/(Decrease)

 

% Change

Revenues

               

New vehicle retail sales

 

$

3,512.1

   

$

3,433.4

   

$

78.7

   

2.3

%

Used vehicle retail sales

 

1,877.6

   

1,727.8

   

149.8

   

8.7

%

Used vehicle wholesale sales

 

133.0

   

137.5

   

(4.5)

   

(3.3)

%

Total used

 

2,010.6

   

1,865.3

   

145.3

   

7.8

%

Parts and service sales

 

922.2

   

862.6

   

59.6

   

6.9

%

Finance, insurance and other, net

 

319.4

   

295.2

   

24.2

   

8.2

%

Total revenues

 

$

6,764.3

   

$

6,456.5

   

$

307.8

   

4.8

%

Gross profit

               

New vehicle retail sales

 

$

164.3

   

$

166.8

   

$

(2.5)

   

(1.5)

%

Used vehicle retail sales

 

125.1

   

109.5

   

15.6

   

14.2

%

Used vehicle wholesale sales

 

2.4

   

3.4

   

(1.0)

   

(29.4)

%

Total used

 

127.5

   

112.9

   

14.6

   

12.9

%

Parts and service sales

 

499.4

   

463.9

   

35.5

   

7.7

%

Finance, insurance and other, net

 

319.4

   

295.2

   

24.2

   

8.2

%

Total gross profit

 

$

1,110.6

   

$

1,038.8

   

$

71.8

   

6.9

%

Gross margin

               

New vehicle retail sales

 

4.7

%

 

4.9

%

 

(0.2)

%

   

Used vehicle retail sales

 

6.7

%

 

6.3

%

 

0.4

%

   

Used vehicle wholesale sales

 

1.8

%

 

2.5

%

 

(0.7)

%

   

Total used

 

6.3

%

 

6.1

%

 

0.2

%

   

Parts and service sales

 

54.2

%

 

53.8

%

 

0.4

%

   

Finance, insurance and other, net

 

100.0

%

 

100.0

%

 

%

   

Total gross margin

 

16.4

%

 

16.1

%

 

0.3

%

   

Units sold

               

Retail new vehicles sold

 

89,749

   

91,119

   

(1,370)

   

(1.5)

%

Retail used vehicles sold

 

91,299

   

83,919

   

7,380

   

8.8

%

Wholesale used vehicles sold

 

21,543

   

23,793

   

(2,250)

   

(9.5)

%

Total used

 

112,842

   

107,712

   

5,130

   

4.8

%

Average sales price per unit sold

               

New vehicle retail

 

$

39,132

   

$

37,680

   

$

1,452

   

3.9

%

Used vehicle retail

 

$

20,565

   

$

20,589

   

$

(24)

   

(0.1)

%

Gross profit per unit sold

               

New vehicle retail sales

 

$

1,831

   

$

1,831

   

$

   

%

Used vehicle retail sales

 

$

1,370

   

$

1,305

   

$

65

   

5.0

%

Used vehicle wholesale sales

 

$

111

   

$

143

   

$

(32)

   

(22.4)

%

Total used

 

$

1,130

   

$

1,048

   

$

82

   

7.8

%

Finance, insurance and other, net (per retail unit)

 

$

1,764

   

$

1,686

   

$

78

   

4.6

%

Other

               

SG&A expenses

 

$

809.6

   

$

729.4

   

$

80.2

   

11.0

%

Adjusted SG&A expenses (1)

 

$

794.4

   

$

748.5

   

$

45.9

   

6.1

%

SG&A as % gross profit

 

72.9

%

 

70.2

%

 

2.7

%

   

Adjusted SG&A as % gross profit (1)

 

71.5

%

 

72.1

%

 

(0.6)

%

   

Interest expense

               

Floorplan interest expense

 

$

41.2

   

$

38.0

   

$

3.2

   

8.4

%

Less: Floorplan assistance

 

35.2

   

33.7

   

1.5

   

4.5

%

Net floorplan expense

 

$

6.0

   

$

4.3

   

$

1.7

   

39.5

%

Other interest expense, net

 

$

50.4

   

$

51.6

   

$

(1.2)

   

(2.3)

%

   

(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)

(Dollars in millions, except per unit amounts)

   
 

Three Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

290.7

   

$

278.0

   

$

12.7

   

4.6

%

   

$

(16.4)

   

10.5

%

Used vehicle retail sales

189.3

   

200.1

   

(10.8)

   

(5.4)

%

   

(10.8)

   

%

Used vehicle wholesale sales

35.0

   

41.7

   

(6.7)

   

(16.1)

%

   

(1.9)

   

(11.5)

%

Total used

224.3

   

241.8

   

(17.5)

   

(7.2)

%

   

(12.7)

   

(2.0)

%

Parts and service sales

56.6

   

53.8

   

2.8

   

5.2

%

   

(3.2)

   

11.1

%

Finance, insurance and other, net

13.0

   

12.3

   

0.7

   

5.7

%

   

(0.7)

   

11.5

%

Total revenues

$

584.6

   

$

585.9

   

$

(1.3)

   

(0.2)

%

   

$

(33.0)

   

5.4

%

Gross profit

                       

New vehicle retail sales

$

12.1

   

$

15.1

   

$

(3.0)

   

(19.9)

%

   

$

(0.8)

   

(14.4)

%

Used vehicle retail sales

8.9

   

11.6

   

(2.7)

   

(23.3)

%

   

(0.5)

   

(19.0)

%

Used vehicle wholesale sales

(0.3)

   

(0.8)

   

0.5

   

62.5

%

   

   

62.5

%

Total used

8.6

   

10.8

   

(2.2)

   

(20.4)

%

   

(0.5)

   

(15.6)

%

Parts and service sales

31.3

   

30.5

   

0.8

   

2.6

%

   

(1.8)

   

8.4

%

Finance, insurance and other, net

13.0

   

12.3

   

0.7

   

5.7

%

   

(0.7)

   

11.5

%

Total gross profit

$

65.0

   

$

68.7

   

$

(3.7)

   

(5.4)

%

   

$

(3.8)

   

0.2

%

Gross margin

                       

New vehicle retail sales

4.2

%

 

5.4

%

 

(1.2)

%

             

Used vehicle retail sales

4.7

%

 

5.8

%

 

(1.1)

%

             

Used vehicle wholesale sales

(0.9)

%

 

(1.9)

%

 

1.0

%

             

Total used

3.8

%

 

4.5

%

 

(0.7)

%

             

Parts and service sales

55.3

%

 

56.7

%

 

(1.4)

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

11.1

%

 

11.7

%

 

(0.6)

%

             

Units sold

                       

Retail new vehicles sold

9,329

   

9,333

   

(4)

   

%

         

Retail used vehicles sold

8,573

   

8,482

   

91

   

1.1

%

         

Wholesale used vehicles sold

4,894

   

5,382

   

(488)

   

(9.1)

%

         

Total used

13,467

   

13,864

   

(397)

   

(2.9)

%

         

Average sales price per unit sold

                       

New vehicle retail

$

31,161

   

$

29,787

   

$

1,374

   

4.6

%

   

$

(1,754)

   

10.5

%

Used vehicle retail

$

22,081

   

$

23,591

   

$

(1,510)

   

(6.4)

%

   

$

(1,254)

   

(1.1)

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,297

   

$

1,618

   

$

(321)

   

(19.8)

%

   

$

(88)

   

(14.4)

%

Used vehicle retail sales

$

1,038

   

$

1,368

   

$

(330)

   

(24.1)

%

   

$

(58)

   

(19.9)

%

Used vehicle wholesale sales

$

(61)

   

$

(149)

   

$

88

   

59.1

%

   

$

(5)

   

56.8

%

Total used

$

639

   

$

779

   

$

(140)

   

(18.0)

%

   

$

(38)

   

(13.1)

%

Finance, insurance and other, net (per retail unit)

$

726

   

$

690

   

$

36

   

5.2

%

   

$

(40)

   

10.9

%

Other

                       

SG&A expenses

$

57.5

   

$

59.7

   

$

(2.2)

   

(3.7)

%

   

$

(3.4)

   

1.9

%

Adjusted SG&A expenses (1)

$

57.0

   

$

59.7

   

$

(2.7)

   

(4.5)

%

   

$

(3.3)

   

1.1

%

SG&A as % gross profit

88.5

%

 

86.9

%

 

1.6

%

             

Adjusted SG&A as % gross profit (1)

87.7

%

 

86.9

%

 

0.8

%

             

Interest expense

                       

Floorplan interest expense

$

1.8

   

$

1.6

   

$

0.2

   

12.5

%

   

$

(0.2)

   

24.9

%

Less: Floorplan assistance

0.1

   

0.3

   

(0.2)

   

(66.7)

%

   

   

(66.7)

%

Net floorplan expense

$

1.7

   

$

1.3

   

$

0.4

   

30.8

%

   

$

(0.2)

   

46.5

%

Other interest expense, net

$

2.3

   

$

1.7

   

$

0.6

   

35.3

%

   

$

(0.1)

   

41.4

%

 

   

(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.K.

(Unaudited)

(Dollars in millions, except per unit amounts)

                         
 

Nine Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

911.6

   

$

971.1

   

$

(59.5)

   

(6.1)

%

   

$

(56.6)

   

(0.3)

%

Used vehicle retail sales

586.8

   

600.7

   

(13.9)

   

(2.3)

%

   

(35.1)

   

3.5

%

Used vehicle wholesale sales

127.1

   

134.4

   

(7.3)

   

(5.4)

%

   

(7.5)

   

0.2

%

Total used

713.9

   

735.1

   

(21.2)

   

(2.9)

%

   

(42.6)

   

2.9

%

Parts and service sales

172.5

   

165.0

   

7.5

   

4.5

%

   

(10.5)

   

10.9

%

Finance, insurance and other, net

43.2

   

42.3

   

0.9

   

2.1

%

   

(2.7)

   

8.4

%

Total revenues

$

1,841.2

   

$

1,913.5

   

$

(72.3)

   

(3.8)

%

   

$

(112.4)

   

2.1

%

Gross profit

                       

New vehicle retail sales

$

39.6

   

$

49.5

   

$

(9.9)

   

(20.0)

%

   

$

(2.3)

   

(15.4)

%

Used vehicle retail sales

25.5

   

31.3

   

(5.8)

   

(18.5)

%

   

(1.5)

   

(13.7)

%

Used vehicle wholesale sales

(2.6)

   

(2.2)

   

(0.4)

   

(18.2)

%

   

0.1

   

(24.8)

%

Total used

22.9

   

29.1

   

(6.2)

   

(21.3)

%

   

(1.4)

   

(16.5)

%

Parts and service sales

95.5

   

94.1

   

1.4

   

1.5

%

   

(5.7)

   

7.6

%

Finance, insurance and other, net

43.2

   

42.3

   

0.9

   

2.1

%

   

(2.7)

   

8.4

%

Total gross profit

$

201.2

   

$

215.0

   

$

(13.8)

   

(6.4)

%

   

$

(12.1)

   

(0.8)

%

Gross margin

                       

New vehicle retail sales

4.3

%

 

5.1

%

 

(0.8)

%

             

Used vehicle retail sales

4.3

%

 

5.2

%

 

(0.9)

%

             

Used vehicle wholesale sales

(2.0)

%

 

(1.6)

%

 

(0.4)

%

             

Total used

3.2

%

 

4.0

%

 

(0.8)

%

             

Parts and service sales

55.4

%

 

57.0

%

 

(1.6)

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

10.9

%

 

11.2

%

 

(0.3)

%

             

Units sold

                       

Retail new vehicles sold

28,939

   

30,697

   

(1,758)

   

(5.7)

%

         

Retail used vehicles sold

25,284

   

24,818

   

466

   

1.9

%

         

Wholesale used vehicles sold

16,033

   

16,924

   

(891)

   

(5.3)

%

         

Total used

41,317

   

41,742

   

(425)

   

(1.0)

%

         

Average sales price per unit sold

                       

New vehicle retail

$

31,501

   

$

31,635

   

$

(134)

   

(0.4)

%

   

$

(1,955)

   

5.8

%

Used vehicle retail

$

23,208

   

$

24,204

   

$

(996)

   

(4.1)

%

   

$

(1,390)

   

1.6

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,368

   

$

1,613

   

$

(245)

   

(15.2)

%

   

$

(79)

   

(10.3)

%

Used vehicle retail sales

$

1,009

   

$

1,261

   

$

(252)

   

(20.0)

%

   

$

(60)

   

(15.2)

%

Used vehicle wholesale sales

$

(162)

   

$

(130)

   

$

(32)

   

(24.6)

%

   

$

9

   

(31.7)

%

Total used

$

554

   

$

697

   

$

(143)

   

(20.5)

%

   

$

(34)

   

(15.7)

%

Finance, insurance and other, net (per retail unit)

$

797

   

$

762

   

$

35

   

4.6

%

   

$

(49)

   

11.0

%

Other

                       

SG&A expenses

$

175.8

   

$

181.6

   

$

(5.8)

   

(3.2)

%

   

$

(10.7)

   

2.7

%

Adjusted SG&A expenses (1)

$

175.3

   

$

181.6

   

$

(6.3)

   

(3.5)

%

   

$

(10.7)

   

2.4

%

SG&A as % gross profit

87.4

%

 

84.5

%

 

2.9

%

             

Adjusted SG&A as % gross profit (1)

87.1

%

 

84.5

%

 

2.6

%

             

Interest expense

                       

Floorplan interest expense

$

5.2

   

$

4.7

   

$

0.5

   

10.6

%

   

$

(0.3)

   

17.7

%

Less: Floorplan assistance

0.4

   

0.8

   

(0.4)

   

(50.0)

%

   

0.1

   

(54.8)

%

Net floorplan expense

$

4.8

   

$

3.9

   

$

0.9

   

23.1

%

   

$

(0.4)

   

33.2

%

Other interest expense, net

$

5.4

   

$

5.0

   

$

0.4

   

8.0

%

   

$

(0.4)

   

15.0

%

 

   

(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 - Brazil

(Unaudited)

(Dollars in millions, except per unit amounts)

                         
 

Three Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

69.8

   

$

64.9

   

$

4.9

   

7.6

%

   

$

(0.5)

   

8.3

%

Used vehicle retail sales

22.8

   

20.3

   

2.5

   

12.3

%

   

(0.1)

   

12.9

%

Used vehicle wholesale sales

4.4

   

4.2

   

0.2

   

4.8

%

   

   

4.8

%

Total used

27.2

   

24.5

   

2.7

   

11.0

%

   

(0.1)

   

11.7

%

Parts and service sales

12.0

   

11.4

   

0.6

   

5.3

%

   

(0.1)

   

5.9

%

Finance, insurance and other, net

1.9

   

2.2

   

(0.3)

   

(13.6)

%

   

   

(13.6)

%

Total revenues

$

110.9

   

$

103.0

   

$

7.9

   

7.7

%

   

$

(0.7)

   

8.4

%

Gross profit

                       

New vehicle retail sales

$

4.5

   

$

5.2

   

$

(0.7)

   

(13.5)

%

   

$

   

(13.5)

%

Used vehicle retail sales

1.8

   

1.3

   

0.5

   

38.5

%

   

   

38.5

%

Used vehicle wholesale sales

0.3

   

0.1

   

0.2

   

200.0

%

   

0.1

   

88.2

%

Total used

2.1

   

1.4

   

0.7

   

50.0

%

   

0.1

   

44.3

%

Parts and service sales

5.1

   

5.1

   

   

%

   

   

%

Finance, insurance and other, net

1.9

   

2.2

   

(0.3)

   

(13.6)

%

   

   

(13.6)

%

Total gross profit

$

13.6

   

$

13.9

   

$

(0.3)

   

(2.2)

%

   

$

0.1

   

(1.9)

%

Gross margin

                       

New vehicle retail sales

6.4

%

 

8.0

%

 

(1.6)

%

             

Used vehicle retail sales

7.9

%

 

6.4

%

 

1.5

%

             

Used vehicle wholesale sales

6.8

%

 

2.4

%

 

4.4

%

             

Total used

7.7

%

 

5.7

%

 

2.0

%

             

Parts and service sales

42.5

%

 

44.7

%

 

(2.2)

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

12.3

%

 

13.5

%

 

(1.2)

%

             

Units sold

                       

Retail new vehicles sold

2,262

   

2,193

   

69

   

3.1

%

         

Retail used vehicles sold

1,219

   

1,069

   

150

   

14.0

%

         

Wholesale used vehicles sold

430

   

402

   

28

   

7.0

%

         

Total used

1,649

   

1,471

   

178

   

12.1

%

         

Average sales price per unit sold

                       

New vehicle retail

$

30,858

   

$

29,594

   

$

1,264

   

4.3

%

   

$

(210)

   

5.0

%

Used vehicle retail

$

18,704

   

$

18,990

   

$

(286)

   

(1.5)

%

   

$

(96)

   

(1.0)

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,989

   

$

2,371

   

$

(382)

   

(16.1)

%

   

$

(6)

   

(15.9)

%

Used vehicle retail sales

$

1,477

   

$

1,216

   

$

261

   

21.5

%

   

$

1

   

21.6

%

Used vehicle wholesale sales

$

698

   

$

249

   

$

449

   

180.3

%

   

$

135

   

76.0

%

Total used

$

1,273

   

$

952

   

$

321

   

33.7

%

   

$

37

   

28.7

%

Finance, insurance and other, net (per retail unit)

$

546

   

$

674

   

$

(128)

   

(19.0)

%

   

$

(1)

   

(19.2)

%

Other

                       

SG&A expenses

$

11.1

   

$

14.9

   

$

(3.8)

   

(25.5)

%

   

$

0.1

   

(26.1)

%

Adjusted SG&A expenses (1)

$

11.1

   

$

11.8

   

$

(0.7)

   

(5.9)

%

   

$

   

(5.9)

%

SG&A as % gross profit

81.6

%

 

107.2

%

 

(25.6)

%

             

Adjusted SG&A as % gross profit (1)

81.6

%

 

84.9

%

 

(3.3)

%

             

Interest expense

                       

Floorplan interest expense

$

0.2

   

$

0.2

   

$

   

%

   

$

   

%

Other interest expense, net

$

0.1

   

$

0.2

   

$

(0.1)

   

(50.0)

%

   

$

   

(50.0)

%

 

   

(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 - Brazil

(Unaudited)

(Dollars in millions, except per unit amounts)

   
 

Nine Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

208.5

   

$

204.2

   

$

4.3

   

2.1

%

   

$

(17.7)

   

10.8

%

Used vehicle retail sales

63.4

   

66.3

   

(2.9)

   

(4.4)

%

   

(5.6)

   

4.1

%

Used vehicle wholesale sales

13.3

   

11.5

   

1.8

   

15.7

%

   

(0.9)

   

23.6

%

Total used

76.7

   

77.8

   

(1.1)

   

(1.4)

%

   

(6.5)

   

7.0

%

Parts and service sales

36.1

   

34.5

   

1.6

   

4.6

%

   

(3.0)

   

13.5

%

Finance, insurance and other, net

5.6

   

6.0

   

(0.4)

   

(6.7)

%

   

(0.4)

   

0.2

%

Total revenues

$

326.9

   

$

322.5

   

$

4.4

   

1.4

%

   

$

(27.6)

   

10.0

%

Gross profit

                       

New vehicle retail sales

$

12.6

   

$

13.3

   

$

(0.7)

   

(5.3)

%

   

$

(0.9)

   

1.8

%

Used vehicle retail sales

4.7

   

4.0

   

0.7

   

17.5

%

   

(0.4)

   

26.2

%

Used vehicle wholesale sales

0.9

   

0.4

   

0.5

   

125.0

%

   

(0.1)

   

150.9

%

Total used

5.6

   

4.4

   

1.2

   

27.3

%

   

(0.5)

   

37.0

%

Parts and service sales

15.8

   

15.5

   

0.3

   

1.9

%

   

(1.3)

   

10.6

%

Finance, insurance and other, net

5.6

   

6.0

   

(0.4)

   

(6.7)

%

   

(0.4)

   

0.2

%

Total gross profit

$

39.6

   

$

39.2

   

$

0.4

   

1.0

%

   

$

(3.1)

   

9.0

%

Gross margin

                       

New vehicle retail sales

6.0

%

 

6.5

%

 

(0.5)

%

             

Used vehicle retail sales

7.4

%

 

6.0

%

 

1.4

%

             

Used vehicle wholesale sales

6.8

%

 

3.5

%

 

3.3

%

             

Total used

7.3

%

 

5.7

%

 

1.6

%

             

Parts and service sales

43.8

%

 

44.9

%

 

(1.1)

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

12.1

%

 

12.2

%

 

(0.1)

%

             

Units sold

                       

Retail new vehicles sold

6,911

   

6,429

   

482

   

7.5

%

         

Retail used vehicles sold

3,295

   

3,163

   

132

   

4.2

%

         

Wholesale used vehicles sold

1,386

   

1,081

   

305

   

28.2

%

         

Total used

4,681

   

4,244

   

437

   

10.3

%

         

Average sales price per unit sold

                       

New vehicle retail

$

30,169

   

$

31,762

   

$

(1,593)

   

(5.0)

%

   

$

(2,564)

   

3.1

%

Used vehicle retail

$

19,241

   

$

20,961

   

$

(1,720)

   

(8.2)

%

   

$

(1,720)

   

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,823

   

$

2,069

   

$

(246)

   

(11.9)

%

   

$

(137)

   

(5.3)

%

Used vehicle retail sales

$

1,426

   

$

1,265

   

$

161

   

12.7

%

   

$

(109)

   

21.1

%

Used vehicle wholesale sales

$

649

   

$

370

   

$

279

   

75.4

%

   

$

(60)

   

95.7

%

Total used

$

1,196

   

$

1,037

   

$

159

   

15.3

%

   

$

(94)

   

24.2

%

Finance, insurance and other, net (per retail unit)

$

549

   

$

626

   

$

(77)

   

(12.3)

%

   

$

(40)

   

(5.8)

%

Other

                       

SG&A expenses

$

35.0

   

$

38.2

   

$

(3.2)

   

(8.4)

%

   

$

(2.3)

   

(2.2)

%

Adjusted SG&A expenses (1)

$

35.0

   

$

34.5

   

$

0.5

   

1.4

%

   

$

(2.8)

   

9.4

%

SG&A as % gross profit

88.4

%

 

97.4

%

 

(9.0)

%

             

Adjusted SG&A as % gross profit (1)

88.4

%

 

88.0

%

 

0.4

%

             

Interest expense

                       

Floorplan interest expense

$

0.6

   

$

0.6

   

$

   

%

   

$

   

%

Other interest expense, net

$

   

$

0.8

   

$

(0.8)

   

(100.0)

%

   

$

(0.1)

   

(100.8)

%

 

   

(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.

Reported Operating Data - Consolidated

(Unaudited)

(Dollars in millions, except per unit amounts)

   
 

Three Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

1,652.2

   

$

1,539.5

   

$

112.7

   

7.3

%

   

$

(16.9)

   

8.4

%

Used vehicle retail sales

869.7

   

792.4

   

77.3

   

9.8

%

   

(10.9)

   

11.1

%

Used vehicle wholesale sales

85.3

   

86.6

   

(1.3)

   

(1.5)

%

   

(1.9)

   

0.7

%

Total used

955.0

   

879.0

   

76.0

   

8.6

%

   

(12.8)

   

10.1

%

Parts and service sales

383.5

   

354.5

   

29.0

   

8.2

%

   

(3.2)

   

9.1

%

Finance, insurance and other, net

127.6

   

116.1

   

11.5

   

9.9

%

   

(0.7)

   

10.5

%

Total revenues

$

3,118.3

   

$

2,889.1

   

$

229.2

   

7.9

%

   

$

(33.6)

   

9.1

%

Gross profit

                       

New vehicle retail sales

$

75.2

   

$

77.6

   

$

(2.4)

   

(3.1)

%

   

$

(0.9)

   

(1.9)

%

Used vehicle retail sales

54.2

   

50.1

   

4.1

   

8.2

%

   

(0.5)

   

9.2

%

Used vehicle wholesale sales

0.4

   

(0.3)

   

0.7

   

233.3

%

   

0.1

   

197.5

%

Total used

54.6

   

49.8

   

4.8

   

9.6

%

   

(0.4)

   

10.5

%

Parts and service sales

208.2

   

191.6

   

16.6

   

8.7

%

   

(1.7)

   

9.6

%

Finance, insurance and other, net

127.6

   

116.1

   

11.5

   

9.9

%

   

(0.7)

   

10.5

%

Total gross profit

$

465.6

   

$

435.1

   

$

30.5

   

7.0

%

   

$

(3.7)

   

7.9

%

Gross margin

                       

New vehicle retail sales

4.6

%

 

5.0

%

 

(0.4)

%

             

Used vehicle retail sales

6.2

%

 

6.3

%

 

(0.1)

%

             

Used vehicle wholesale sales

0.5

%

 

(0.3)

%

 

0.8

%

             

Total used

5.7

%

 

5.7

%

 

%

             

Parts and service sales

54.3

%

 

54.0

%

 

0.3

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

14.9

%

 

15.1

%

 

(0.2)

%

             

Units sold

                       

Retail new vehicles sold

44,632

   

43,584

   

1,048

   

2.4

%

         

Retail used vehicles sold

41,297

   

37,676

   

3,621

   

9.6

%

         

Wholesale used vehicles sold

12,889

   

12,902

   

(13)

   

(0.1)

%

         

Total used

54,186

   

50,578

   

3,608

   

7.1

%

         

Average sales price per unit sold

                       

New vehicle retail

$

37,018

   

$

35,323

   

$

1,695

   

4.8

%

   

$

(380)

   

5.9

%

Used vehicle retail

$

21,060

   

$

21,032

   

$

28

   

0.1

%

   

$

(265)

   

1.4

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,685

   

$

1,780

   

$

(95)

   

(5.3)

%

   

$

(20)

   

(4.2)

%

Used vehicle retail sales

$

1,312

   

$

1,330

   

$

(18)

   

(1.4)

%

   

$

(13)

   

(0.4)

%

Used vehicle wholesale sales

$

31

   

$

(23)

   

$

54

   

234.8

%

   

$

6

   

197.6

%

Total used

$

1,008

   

$

985

   

$

23

   

2.3

%

   

$

(8)

   

3.1

%

Finance, insurance and other, net (per retail unit)

$

1,485

   

$

1,429

   

$

56

   

3.9

%

   

$

(8)

   

4.5

%

Other

                       

SG&A expenses

$

354.0

   

$

316.8

   

$

37.2

   

11.7

%

   

$

(3.2)

   

12.7

%

Adjusted SG&A expenses (1)

$

340.8

   

$

320.5

   

$

20.3

   

6.3

%

   

$

(3.3)

   

7.4

%

SG&A as % gross profit

76.0

%

 

72.8

%

 

3.2

%

             

Adjusted SG&A as % gross profit (1)

73.2

%

 

73.7

%

 

(0.5)

%

             

Operating margin %

2.7

%

 

2.7

%

 

%

             

Adjusted operating margin % (1)

3.4

%

 

3.4

%

 

%

             

Pretax margin %

1.6

%

 

1.5

%

 

0.1

%

             

Adjusted pretax margin % (1)

2.3

%

 

2.2

%

 

0.1

%

             

Interest expense

                       

Floorplan interest expense

$

15.4

   

$

14.7

   

$

0.7

   

4.8

%

   

$

   

4.8

%

Less: Floorplan assistance

13.3

   

12.0

   

1.3

   

10.8

%

   

   

10.8

%

Net floorplan expense

$

2.1

   

$

2.7

   

$

(0.6)

   

(22.2)

%

   

$

   

(22.2)

%

Other interest expense, net

$

18.9

   

$

19.1

   

$

(0.2)

   

(1.0)

%

   

$

(0.1)

   

(0.3)

%

 

   

(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 - Consolidated

(Unaudited)

(Dollars in millions, except per unit amounts)

   
 

Nine Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

4,632.2

   

$

4,608.7

   

$

23.5

   

0.5

%

   

$

(74.5)

   

2.1

%

Used vehicle retail sales

2,527.8

   

2,394.8

   

133.0

   

5.6

%

   

(40.7)

   

7.3

%

Used vehicle wholesale sales

273.4

   

283.4

   

(10.0)

   

(3.5)

%

   

(8.4)

   

(0.6)

%

Total used

2,801.2

   

2,678.2

   

123.0

   

4.6

%

   

(49.1)

   

6.4

%

Parts and service sales

1,130.8

   

1,062.1

   

68.7

   

6.5

%

   

(13.3)

   

7.7

%

Finance, insurance and other, net

368.2

   

343.5

   

24.7

   

7.2

%

   

(3.0)

   

8.1

%

Total revenues

$

8,932.4

   

$

8,692.5

   

$

239.9

   

2.8

%

   

$

(139.9)

   

4.4

%

Gross profit

                       

New vehicle retail sales

$

216.5

   

$

229.6

   

$

(13.1)

   

(5.7)

%

   

$

(3.2)

   

(4.3)

%

Used vehicle retail sales

155.3

   

144.8

   

10.5

   

7.3

%

   

(1.9)

   

8.6

%

Used vehicle wholesale sales

0.7

   

1.6

   

(0.9)

   

(56.3)

%

   

   

(56.3)

%

Total used

156.0

   

146.4

   

9.6

   

6.6

%

   

(1.9)

   

7.9

%

Parts and service sales

610.7

   

573.5

   

37.2

   

6.5

%

   

(7.0)

   

7.7

%

Finance, insurance and other, net

368.2

   

343.5

   

24.7

   

7.2

%

   

(3.0)

   

8.1

%

Total gross profit

$

1,351.4

   

$

1,293.0

   

$

58.4

   

4.5

%

   

$

(15.1)

   

5.7

%

Gross margin

                       

New vehicle retail sales

4.7

%

 

5.0

%

 

(0.3)

%

             

Used vehicle retail sales

6.1

%

 

6.0

%

 

0.1

%

             

Used vehicle wholesale sales

0.3

%

 

0.6

%

 

(0.3)

%

             

Total used

5.6

%

 

5.5

%

 

0.1

%

             

Parts and service sales

54.0

%

 

54.0

%

 

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

15.1

%

 

14.9

%

 

0.2

%

             

Units sold

                       

Retail new vehicles sold

125,599

   

128,245

   

(2,646)

   

(2.1)

%

         

Retail used vehicles sold

119,878

   

111,900

   

7,978

   

7.1

%

         

Wholesale used vehicles sold

38,962

   

41,798

   

(2,836)

   

(6.8)

%

         

Total used

158,840

   

153,698

   

5,142

   

3.3

%

         

Average sales price per unit sold

                       

New vehicle retail

$

36,881

   

$

35,937

   

$

944

   

2.6

%

   

$

(593)

   

4.3

%

Used vehicle retail

$

21,086

   

$

21,401

   

$

(315)

   

(1.5)

%

   

$

(340)

   

0.1

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,724

   

$

1,790

   

$

(66)

   

(3.7)

%

   

$

(25)

   

(2.3)

%

Used vehicle retail sales

$

1,295

   

$

1,294

   

$

1

   

0.1

%

   

$

(17)

   

1.4

%

Used vehicle wholesale sales

$

18

   

$

38

   

$

(20)

   

(52.6)

%

   

$

1

   

(55.6)

%

Total used

$

982

   

$

953

   

$

29

   

3.0

%

   

$

(13)

   

4.4

%

Finance, insurance and other, net (per retail unit)

$

1,500

   

$

1,430

   

$

70

   

4.9

%

   

$

(12)

   

5.7

%

Other

                       

SG&A expenses

$

1,020.4

   

$

949.2

   

$

71.2

   

7.5

%

   

$

(13.0)

   

8.9

%

Adjusted SG&A expenses (1)

$

1,004.7

   

$

964.6

   

$

40.1

   

4.2

%

   

$

(13.3)

   

5.5

%

SG&A as % gross profit

75.5

%

 

73.4

%

 

2.1

%

             

Adjusted SG&A as % gross profit (1)

74.3

%

 

74.6

%

 

(0.3)

%

             

Operating margin %

3.0

%

 

3.1

%

 

(0.1)

%

             

Adjusted operating margin % (1)

3.3

%

 

3.2

%

 

0.1

%

             

Pretax margin %

1.8

%

 

1.9

%

 

(0.1)

%

             

Adjusted pretax margin % (1)

2.1

%

 

2.0

%

 

0.1

%

             

Interest expense

                       

Floorplan interest expense

$

47.0

   

$

43.3

   

$

3.7

   

8.5

%

   

$

(0.3)

   

9.2

%

Less: Floorplan assistance

35.6

   

34.5

   

1.1

   

3.2

%

   

0.1

   

3.2

%

Net floorplan expense

$

11.4

   

$

8.8

   

$

2.6

   

29.5

%

   

$

(0.4)

   

32.9

%

Other interest expense, net

$

55.8

   

$

57.4

   

$

(1.6)

   

(2.8)

%

   

$

(0.4)

   

(2.1)

%

   

(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 - U.S.

(Unaudited)

(Dollars in millions, except per unit amounts)

               
 

Three Months Ended September 30,

 

2019

 

2018

 

Increase/(Decrease)

 

% Change

Revenues

             

New vehicle retail sales

$

1,259.8

   

$

1,172.4

   

$

87.4

   

7.5

%

Used vehicle retail sales

639.0

   

560.1

   

78.9

   

14.1

%

Used vehicle wholesale sales

45.0

   

39.8

   

5.2

   

13.1

%

Total used

684.0

   

599.9

   

84.1

   

14.0

%

Parts and service sales

309.2

   

282.1

   

27.1

   

9.6

%

Finance, insurance and other, net

110.1

   

99.6

   

10.5

   

10.5

%

Total revenues

$

2,363.1

   

$

2,154.0

   

$

209.1

   

9.7

%

Gross profit

             

New vehicle retail sales

$

56.3

   

$

56.4

   

$

(0.1)

   

(0.2)

%

Used vehicle retail sales

42.5

   

36.5

   

6.0

   

16.4

%

Used vehicle wholesale sales

0.4

   

0.3

   

0.1

   

33.3

%

Total used

42.9

   

36.8

   

6.1

   

16.6

%

Parts and service sales

168.0

   

152.8

   

15.2

   

9.9

%

Finance, insurance and other, net

110.1

   

99.6

   

10.5

   

10.5

%

Total gross profit

$

377.3

   

$

345.6

   

$

31.7

   

9.2

%

Gross margin

             

New vehicle retail sales

4.5

%

 

4.8

%

 

(0.3)

%

   

Used vehicle retail sales

6.7

%

 

6.5

%

 

0.2

%

   

Used vehicle wholesale sales

0.9

%

 

0.8

%

 

0.1

%

   

Total used

6.3

%

 

6.1

%

 

0.2

%

   

Parts and service sales

54.3

%

 

54.2

%

 

0.1

%

   

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

   

Total gross margin

16.0

%

 

16.0

%

 

%

   

Units sold

             

Retail new vehicles sold

32,212

   

31,311

   

901

   

2.9

%

Retail used vehicles sold

30,664

   

27,396

   

3,268

   

11.9

%

Wholesale used vehicles sold

7,401

   

6,929

   

472

   

6.8

%

Total used

38,065

   

34,325

   

3,740

   

10.9

%

Average sales price per unit sold

             

New vehicle retail

$

39,110

   

$

37,444

   

$

1,666

   

4.4

%

Used vehicle retail

$

20,839

   

$

20,445

   

$

394

   

1.9

%

Gross profit per unit sold

             

New vehicle retail sales

$

1,748

   

$

1,801

   

$

(53)

   

(2.9)

%

Used vehicle retail sales

$

1,386

   

$

1,332

   

$

54

   

4.1

%

Used vehicle wholesale sales

$

54

   

$

43

   

$

11

   

25.6

%

Total used

$

1,127

   

$

1,072

   

$

55

   

5.1

%

Finance, insurance and other, net (per retail unit)

$

1,751

   

$

1,697

   

$

54

   

3.2

%

Other

             

SG&A expenses

$

278.1

   

$

238.7

   

$

39.4

   

16.5

%

Adjusted SG&A expenses (1)

$

265.8

   

$

241.8

   

$

24.0

   

9.9

%

SG&A as % gross profit

73.7

%

 

69.1

%

 

4.6

%

   

Adjusted SG&A as % gross profit (1)

70.4

%

 

70.0

%

 

0.4

%

   

 

   

(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 - U.S.

(Unaudited)

(Dollars in millions, except per unit amounts)

               
 

Nine Months Ended September 30,

 

2019

 

2018

 

Increase/(Decrease)

 

% Change

Revenues

             

New vehicle retail sales

$

3,430.1

   

$

3,348.2

   

$

81.9

   

2.4

%

Used vehicle retail sales

1,828.5

   

1,687.2

   

141.3

   

8.4

%

Used vehicle wholesale sales

130.2

   

133.7

   

(3.5)

   

(2.6)

%

Total used

1,958.7

   

1,820.9

   

137.8

   

7.6

%

Parts and service sales

910.2

   

836.2

   

74.0

   

8.8

%

Finance, insurance and other, net

311.9

   

289.0

   

22.9

   

7.9

%

Total revenues

$

6,610.9

   

$

6,294.3

   

$

316.6

   

5.0

%

Gross profit

             

New vehicle retail sales

$

159.3

   

$

162.6

   

$

(3.3)

   

(2.0)

%

Used vehicle retail sales

122.6

   

107.0

   

15.6

   

14.6

%

Used vehicle wholesale sales

2.4

   

3.4

   

(1.0)

   

(29.4)

%

Total used

125.0

   

110.4

   

14.6

   

13.2

%

Parts and service sales

491.0

   

451.6

   

39.4

   

8.7

%

Finance, insurance and other, net

311.9

   

289.0

   

22.9

   

7.9

%

Total gross profit

$

1,087.2

   

$

1,013.6

   

$

73.6

   

7.3

%

Gross margin

             

New vehicle retail sales

4.6

%

 

4.9

%

 

(0.3)

%

   

Used vehicle retail sales

6.7

%

 

6.3

%

 

0.4

%

   

Used vehicle wholesale sales

1.8

%

 

2.5

%

 

(0.7)

%

   

Total used

6.4

%

 

6.1

%

 

0.3

%

   

Parts and service sales

53.9

%

 

54.0

%

 

(0.1)

%

   

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

   

Total gross margin

16.4

%

 

16.1

%

 

0.3

%

   

Units sold

             

Retail new vehicles sold

87,369

   

88,913

   

(1,544)

   

(1.7)

%

Retail used vehicles sold

88,826

   

81,846

   

6,980

   

8.5

%

Wholesale used vehicles sold

20,940

   

23,158

   

(2,218)

   

(9.6)

%

Total used

109,766

   

105,004

   

4,762

   

4.5

%

Average sales price per unit sold

             

New vehicle retail

$

39,260

   

$

37,657

   

$

1,603

   

4.3

%

Used vehicle retail

$

20,585

   

$

20,614

   

$

(29)

   

(0.1)

%

Gross profit per unit sold

             

New vehicle retail sales

$

1,823

   

$

1,829

   

$

(6)

   

(0.3)

%

Used vehicle retail sales

$

1,380

   

$

1,307

   

$

73

   

5.6

%

Used vehicle wholesale sales

$

115

   

$

147

   

$

(32)

   

(21.8)

%

Total used

$

1,139

   

$

1,051

   

$

88

   

8.4

%

Finance, insurance and other, net (per retail unit)

$

1,770

   

$

1,692

   

$

78

   

4.6

%

Other

             

SG&A expenses

$

794.2

   

$

728.4

   

$

65.8

   

9.0

%

Adjusted SG&A expenses (1)

$

775.2

   

$

726.9

   

$

48.3

   

6.6

%

SG&A as % gross profit

73.1

%

 

71.9

%

 

1.2

%

   

Adjusted SG&A as % gross profit (1)

71.3

%

 

71.7

%

 

(0.4)

%

   

 

   

(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 - U.K.

(Unaudited)

(Dollars in millions, except per unit amounts)

                         
 

Three Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

274.2

   

$

266.1

   

$

8.1

   

3.0

%

   

$

(15.4)

   

8.8

%

Used vehicle retail sales

177.5

   

192.9

   

(15.4)

   

(8.0)

%

   

(10.0)

   

(2.8)

%

Used vehicle wholesale sales

33.4

   

39.9

   

(6.5)

   

(16.3)

%

   

(1.9)

   

(11.6)

%

Total used

210.9

   

232.8

   

(21.9)

   

(9.4)

%

   

(11.9)

   

(4.3)

%

Parts and service sales

50.4

   

49.6

   

0.8

   

1.6

%

   

(2.8)

   

7.3

%

Finance, insurance and other, net

12.1

   

11.8

   

0.3

   

2.5

%

   

(0.7)

   

8.1

%

Total revenues

$

547.6

   

$

560.3

   

$

(12.7)

   

(2.3)

%

   

$

(30.8)

   

3.2

%

Gross profit

                       

New vehicle retail sales

$

11.3

   

$

14.7

   

$

(3.4)

   

(23.1)

%

   

$

(0.8)

   

(17.9)

%

Used vehicle retail sales

8.3

   

11.1

   

(2.8)

   

(25.2)

%

   

(0.3)

   

(22.1)

%

Used vehicle wholesale sales

(0.3)

   

(0.7)

   

0.4

   

57.1

%

   

   

57.1

%

Total used

8.0

   

10.4

   

(2.4)

   

(23.1)

%

   

(0.3)

   

(19.7)

%

Parts and service sales

28.2

   

28.4

   

(0.2)

   

(0.7)

%

   

(1.6)

   

4.8

%

Finance, insurance and other, net

12.1

   

11.8

   

0.3

   

2.5

%

   

(0.7)

   

8.1

%

Total gross profit

$

59.6

   

$

65.3

   

$

(5.7)

   

(8.7)

%

   

$

(3.4)

   

(3.6)

%

Gross margin

                       

New vehicle retail sales

4.1

%

 

5.5

%

 

(1.4)

%

             

Used vehicle retail sales

4.7

%

 

5.8

%

 

(1.1)

%

             

Used vehicle wholesale sales

(0.9)

%

 

(1.8)

%

 

0.9

%

             

Total used

3.8

%

 

4.5

%

 

(0.7)

%

             

Parts and service sales

56.0

%

 

57.3

%

 

(1.3)

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

10.9

%

 

11.7

%

 

(0.8)

%

             

Units sold

                       

Retail new vehicles sold

8,607

   

8,646

   

(39)

   

(0.5)

%

         

Retail used vehicles sold

7,902

   

8,128

   

(226)

   

(2.8)

%

         

Wholesale used vehicles sold

4,603

   

5,133

   

(530)

   

(10.3)

%

         

Total used

12,505

   

13,261

   

(756)

   

(5.7)

%

         

Average sales price per unit sold

                       

New vehicle retail

$

31,858

   

$

30,777

   

$

1,081

   

3.5

%

   

$

(1,789)

   

9.3

%

Used vehicle retail

$

22,463

   

$

23,733

   

$

(1,270)

   

(5.4)

%

   

$

(1,270)

   

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,313

   

$

1,700

   

$

(387)

   

(22.8)

%

   

$

(87)

   

(17.6)

%

Used vehicle retail sales

$

1,050

   

$

1,366

   

$

(316)

   

(23.1)

%

   

$

(43)

   

(19.8)

%

Used vehicle wholesale sales

$

(65)

   

$

(136)

   

$

71

   

52.2

%

   

$

(3)

   

50.2

%

Total used

$

640

   

$

784

   

$

(144)

   

(18.4)

%

   

$

(28)

   

(14.8)

%

Finance, insurance and other, net (per retail unit)

$

733

   

$

703

   

$

30

   

4.3

%

   

$

(39)

   

9.8

%

Other

                       

SG&A expenses

$

51.1

   

$

55.7

   

$

(4.6)

   

(8.3)

%

   

$

(2.9)

   

(3.0)

%

SG&A as % gross profit

85.7

%

 

85.3

%

 

0.4

%

             

 

 

 

Group 1 Automotive, Inc.

Same Store Operating Data - U.K.

(Unaudited)

(Dollars in millions, except per unit amounts)

   
 

Nine Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

853.1

   

$

923.9

   

$

(70.8)

   

(7.7)

%

   

$

(53.1)

   

(1.9)

%

Used vehicle retail sales

546.1

   

580.2

   

(34.1)

   

(5.9)

%

   

(32.8)

   

(0.2)

%

Used vehicle wholesale sales

120.6

   

130.2

   

(9.6)

   

(7.4)

%

   

(7.1)

   

(1.9)

%

Total used

666.7

   

710.4

   

(43.7)

   

(6.2)

%

   

(39.9)

   

(0.5)

%

Parts and service sales

154.7

   

152.8

   

1.9

   

1.2

%

   

(9.3)

   

7.3

%

Finance, insurance and other, net

40.4

   

40.6

   

(0.2)

   

(0.5)

%

   

(2.4)

   

5.3

%

Total revenues

$

1,714.9

   

$

1,827.7

   

$

(112.8)

   

(6.2)

%

   

$

(104.7)

   

(0.4)

%

Gross profit

                       

New vehicle retail sales

$

37.3

   

$

48.0

   

$

(10.7)

   

(22.3)

%

   

$

(2.2)

   

(17.7)

%

Used vehicle retail sales

23.4

   

30.3

   

(6.9)

   

(22.8)

%

   

(1.4)

   

(18.1)

%

Used vehicle wholesale sales

(2.3)

   

(1.8)

   

(0.5)

   

(27.8)

%

   

0.1

   

(35.9)

%

Total used

21.1

   

28.5

   

(7.4)

   

(26.0)

%

   

(1.3)

   

(21.5)

%

Parts and service sales

86.0

   

88.0

   

(2.0)

   

(2.3)

%

   

(5.1)

   

3.6

%

Finance, insurance and other, net

40.4

   

40.6

   

(0.2)

   

(0.5)

%

   

(2.4)

   

5.3

%

Total gross profit

$

184.8

   

$

205.1

   

$

(20.3)

   

(9.9)

%

   

$

(11.0)

   

(4.6)

%

Gross margin

                       

New vehicle retail sales

4.4

%

 

5.2

%

 

(0.8)

%

             

Used vehicle retail sales

4.3

%

 

5.2

%

 

(0.9)

%

             

Used vehicle wholesale sales

(1.9)

%

 

(1.4)

%

 

(0.5)

%

             

Total used

3.2

%

 

4.0

%

 

(0.8)

%

             

Parts and service sales

55.6

%

 

57.6

%

 

(2.0)

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

10.8

%

 

11.2

%

 

(0.4)

%

             

Units sold

                       

Retail new vehicles sold

26,931

   

28,593

   

(1,662)

   

(5.8)

%

         

Retail used vehicles sold

23,245

   

23,782

   

(537)

   

(2.3)

%

         

Wholesale used vehicles sold

15,077

   

16,342

   

(1,265)

   

(7.7)

%

         

Total used

38,322

   

40,124

   

(1,802)

   

(4.5)

%

         

Average sales price per unit sold

                       

New vehicle retail

$

31,677

   

$

32,312

   

$

(635)

   

(2.0)

%

   

$

(1,973)

   

4.1

%

Used vehicle retail

$

23,493

   

$

24,397

   

$

(904)

   

(3.7)

%

   

$

(1,412)

   

2.1

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,385

   

$

1,679

   

$

(294)

   

(17.5)

%

   

$

(82)

   

(12.6)

%

Used vehicle retail sales

$

1,007

   

$

1,274

   

$

(267)

   

(21.0)

%

   

$

(60)

   

(16.2)

%

Used vehicle wholesale sales

$

(153)

   

$

(110)

   

$

(43)

   

(39.1)

%

   

$

9

   

(47.3)

%

Total used

$

551

   

$

710

   

$

(159)

   

(22.4)

%

   

$

(32)

   

(17.8)

%

Finance, insurance and other, net (per retail unit)

$

805

   

$

775

   

$

30

   

3.9

%

   

$

(47)

   

10.0

%

Other

                       

SG&A expenses

$

159.6

   

$

170.8

   

$

(11.2)

   

(6.6)

%

   

$

(9.6)

   

(0.9)

%

SG&A as % gross profit

86.4

%

 

83.3

%

 

3.1

%

             

 

 

 

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(Dollars in millions, except per unit amounts)

                         
 

Three Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant Currency
% Change

Revenues

                       

New vehicle retail sales

$

67.4

   

$

64.1

   

$

3.3

   

5.1

%

   

$

(0.6)

   

6.1

%

Used vehicle retail sales

22.1

   

17.4

   

4.7

   

27.0

%

   

(0.1)

   

27.5

%

Used vehicle wholesale sales

4.4

   

3.4

   

1.0

   

29.4

%

   

   

29.4

%

Total used

26.5

   

20.8

   

5.7

   

27.4

%

   

(0.1)

   

27.8

%

Parts and service sales

11.7

   

11.1

   

0.6

   

5.4

%

   

   

5.4

%

Finance, insurance and other, net

1.8

   

2.1

   

(0.3)

   

(14.3)

%

   

0.1

   

(17.1)

%

Total revenues

$

107.4

   

$

98.1

   

$

9.3

   

9.5

%

   

$

(0.6)

   

10.2

%

Gross profit

                       

New vehicle retail sales

$

4.3

   

$

5.2

   

$

(0.9)

   

(17.3)

%

   

$

(0.1)

   

(15.0)

%

Used vehicle retail sales

1.7

   

1.1

   

0.6

   

54.5

%

   

0.1

   

45.7

%

Used vehicle wholesale sales

0.3

   

0.2

   

0.1

   

50.0

%

   

(0.1)

   

116.9

%

Total used

2.0

   

1.3

   

0.7

   

53.8

%

   

   

53.8

%

Parts and service sales

5.1

   

5.0

   

0.1

   

2.0

%

   

(0.1)

   

3.3

%

Finance, insurance and other, net

1.8

   

2.1

   

(0.3)

   

(14.3)

%

   

0.1

   

(17.1)

%

Total gross profit

$

13.2

   

$

13.6

   

$

(0.4)

   

(2.9)

%

   

$

(0.1)

   

(2.0)

%

Gross margin

                       

New vehicle retail sales

6.4

%

 

8.1

%

 

(1.7)

%

             

Used vehicle retail sales

7.7

%

 

6.3

%

 

1.4

%

             

Used vehicle wholesale sales

6.8

%

 

5.9

%

 

0.9

%

             

Total used

7.5

%

 

6.2

%

 

1.3

%

             

Parts and service sales

43.6

%

 

45.0

%

 

(1.4)

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

12.3

%

 

13.9

%

 

(1.6)

%

             

Units sold

                       

Retail new vehicles sold

2,145

   

2,173

   

(28)

   

(1.3)

%

         

Retail used vehicles sold

1,164

   

1,010

   

154

   

15.2

%

         

Wholesale used vehicles sold

416

   

373

   

43

   

11.5

%

         

Total used

1,580

   

1,383

   

197

   

14.2

%

         

Average sales price per unit sold

                       

New vehicle retail

$

31,422

   

$

29,498

   

$

1,924

   

6.5

%

   

$

(286)

   

7.5

%

Used vehicle retail

$

18,986

   

$

17,228

   

$

1,758

   

10.2

%

   

$

(76)

   

10.6

%

Gross profit per unit sold

                       

New vehicle retail sales

$

2,005

   

$

2,393

   

$

(388)

   

(16.2)

%

   

$

(59)

   

(13.9)

%

Used vehicle retail sales

$

1,460

   

$

1,089

   

$

371

   

34.1

%

   

$

64

   

26.5

%

Used vehicle wholesale sales

$

721

   

$

536

   

$

185

   

34.5

%

   

$

(181)

   

94.5

%

Total used

$

1,266

   

$

940

   

$

326

   

34.7

%

   

$

(1)

   

34.4

%

Finance, insurance and other, net (per retail unit)

$

544

   

$

660

   

$

(116)

   

(17.6)

%

   

$

19

   

(20.2)

%

Other

                       

SG&A expenses

$

10.8

   

$

13.8

   

$

(3.0)

   

(21.7)

%

   

$

(0.1)

   

(20.9)

%

Adjusted SG&A expenses (1)

$

10.8

   

$

11.3

   

$

(0.5)

   

(4.4)

%

   

$

(0.2)

   

(3.0)

%

SG&A as % gross profit

81.8

%

 

101.5

%

 

(19.7)

%

             

Adjusted SG&A as % gross profit (1)

81.8

%

 

83.1

%

 

(1.3)

%

             

 

   

(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 - Brazil

(Unaudited)

(Dollars in millions, except per unit amounts)

   
 

Nine Months Ended September 30,

 

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

193.6

   

$

202.6

   

$

(9.0)

   

(4.4)

%

   

$

(16.7)

   

3.8

%

Used vehicle retail sales

60.2

   

62.6

   

(2.4)

   

(3.8)

%

   

(5.6)

   

5.2

%

Used vehicle wholesale sales

12.7

   

10.4

   

2.3

   

22.1

%

   

(1.1)

   

32.8

%

Total used

72.9

   

73.0

   

(0.1)

   

(0.1)

%

   

(6.7)

   

9.1

%

Parts and service sales

34.6

   

34.2

   

0.4

   

1.2

%

   

(2.9)

   

9.8

%

Finance, insurance and other, net

5.1

   

6.0

   

(0.9)

   

(15.0)

%

   

(0.4)

   

(8.6)

%

Total revenues

$

306.2

   

$

315.8

   

$

(9.6)

   

(3.0)

%

   

$

(26.7)

   

5.4

%

Gross profit

                       

New vehicle retail sales

$

11.9

   

$

13.2

   

$

(1.3)

   

(9.8)

%

   

$

(0.8)

   

(3.7)

%

Used vehicle retail sales

4.3

   

3.8

   

0.5

   

13.2

%

   

(0.4)

   

22.8

%

Used vehicle wholesale sales

0.9

   

0.4

   

0.5

   

125.0

%

   

(0.1)

   

154.6

%

Total used

5.2

   

4.2

   

1.0

   

23.8

%

   

(0.5)

   

34.7

%

Parts and service sales

15.2

   

15.4

   

(0.2)

   

(1.3)

%

   

(1.4)

   

7.5

%

Finance, insurance and other, net

5.1

   

6.0

   

(0.9)

   

(15.0)

%

   

(0.4)

   

(8.6)

%

Total gross profit

$

37.4

   

$

38.8

   

$

(1.4)

   

(3.6)

%

   

$

(3.1)

   

4.1

%

Gross margin

                       

New vehicle retail sales

6.1

%

 

6.5

%

 

(0.4)

%

             

Used vehicle retail sales

7.1

%

 

6.1

%

 

1.0

%

             

Used vehicle wholesale sales

7.1

%

 

3.8

%

 

3.3

%

             

Total used

7.1

%

 

5.8

%

 

1.3

%

             

Parts and service sales

43.9

%

 

45.0

%

 

(1.1)

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

12.2

%

 

12.3

%

 

(0.1)

%

             

Units sold

                       

Retail new vehicles sold

6,296

   

6,390

   

(94)

   

(1.5)

%

         

Retail used vehicles sold

3,083

   

3,088

   

(5)

   

(0.2)

%

         

Wholesale used vehicles sold

1,253

   

1,043

   

210

   

20.1

%

         

Total used

4,336

   

4,131

   

205

   

5.0

%

         

Average sales price per unit sold

                       

New vehicle retail

$

30,750

   

$

31,706

   

$

(956)

   

(3.0)

%

   

$

(2,657)

   

5.4

%

Used vehicle retail

$

19,526

   

$

20,272

   

$

(746)

   

(3.7)

%

   

$

(1,829)

   

5.3

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,890

   

$

2,066

   

$

(176)

   

(8.5)

%

   

$

(130)

   

(2.2)

%

Used vehicle retail sales

$

1,395

   

$

1,231

   

$

164

   

13.3

%

   

$

(123)

   

23.0

%

Used vehicle wholesale sales

$

718

   

$

384

   

$

334

   

87.0

%

   

$

(75)

   

111.9

%

Total used

$

1,199

   

$

1,017

   

$

182

   

17.9

%

   

$

(108)

   

28.3

%

Finance, insurance and other, net (per retail unit)

$

544

   

$

633

   

$

(89)

   

(14.1)

%

   

$

(41)

   

(7.6)

%

Other

                       

SG&A expenses

$

33.5

   

$

36.8

   

$

(3.3)

   

(9.0)

%

   

$

(2.4)

   

(2.5)

%

Adjusted SG&A expenses (1)

$

33.5

   

$

33.9

   

$

(0.4)

   

(1.2)

%

   

$

(2.7)

   

6.8

%

SG&A as % gross profit

89.6

%

 

94.8

%

 

(5.2)

%

             

Adjusted SG&A as % gross profit (1)

89.6

%

 

87.4

%

 

2.2

%

             

 

   

(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 - Consolidated

(Unaudited)

(Dollars in millions, except per unit amounts)

                           
   

Three Months Ended September 30,

   

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

1,601.4

   

$

1,502.6

   

$

98.8

   

6.6

%

   

$

(16.0)

   

7.6

%

Used vehicle retail sales

838.6

   

770.4

   

68.2

   

8.9

%

   

(10.1)

   

10.2

%

Used vehicle wholesale sales

82.8

   

83.1

   

(0.3)

   

(0.4)

%

   

(1.9)

   

1.9

%

Total used

921.4

   

853.5

   

67.9

   

8.0

%

   

(12.0)

   

9.4

%

Parts and service sales

371.3

   

342.8

   

28.5

   

8.3

%

   

(2.8)

   

9.1

%

Finance, insurance and other, net

124.0

   

113.5

   

10.5

   

9.3

%

   

(0.6)

   

9.9

%

Total revenues

$

3,018.1

   

$

2,812.4

   

$

205.7

   

7.3

%

   

$

(31.4)

   

8.4

%

Gross profit

                       

New vehicle retail sales

$

71.9

   

$

76.3

   

$

(4.4)

   

(5.8)

%

   

$

(0.9)

   

(4.7)

%

Used vehicle retail sales

52.5

   

48.7

   

3.8

   

7.8

%

   

(0.2)

   

8.7

%

Used vehicle wholesale sales

0.4

   

(0.2)

   

0.6

   

300.0

%

   

(0.1)

   

300.0

%

Total used

52.9

   

48.5

   

4.4

   

9.1

%

   

(0.3)

   

9.9

%

Parts and service sales

201.3

   

186.2

   

15.1

   

8.1

%

   

(1.7)

   

8.9

%

Finance, insurance and other, net

124.0

   

113.5

   

10.5

   

9.3

%

   

(0.6)

   

9.9

%

Total gross profit

$

450.1

   

$

424.5

   

$

25.6

   

6.0

%

   

$

(3.5)

   

6.8

%

Gross margin

                       

New vehicle retail sales

4.5

%

 

5.1

%

 

(0.6)

%

             

Used vehicle retail sales

6.3

%

 

6.3

%

 

%

             

Used vehicle wholesale sales

0.5

%

 

(0.2)

%

 

0.7

%

             

Total used

5.7

%

 

5.7

%

 

%

             

Parts and service sales

54.2

%

 

54.3

%

 

(0.1)

%

             

Finance, insurance and other, net

100.0

%

 

100.0

%

 

%

             

Total gross margin

14.9

%

 

15.1

%

 

(0.2)

%

             

Units sold

                       

Retail new vehicles sold

42,964

   

42,130

   

834

   

2.0

%

         

Retail used vehicles sold

39,730

   

36,534

   

3,196

   

8.7

%

         

Wholesale used vehicles sold

12,420

   

12,435

   

(15)

   

(0.1)

%

         

Total used

52,150

   

48,969

   

3,181

   

6.5

%

         

Average sales price per unit sold

                       

New vehicle retail

$

37,273

   

$

35,666

   

$

1,607

   

4.5

%

   

$

(369)

   

5.5

%

Used vehicle retail

$

21,107

   

$

21,087

   

$

20

   

0.1

%

   

$

(257)

   

1.3

%

Gross profit per unit sold

                       

New vehicle retail sales

$

1,673

   

$

1,811

   

$

(138)

   

(7.6)

%

   

$

(19)

   

(6.6)

%

Used vehicle retail sales

$

1,321

   

$

1,333

   

$

(12)

   

(0.9)

%

   

$

(12)

   

%

Used vehicle wholesale sales

$

32

   

$

(16)

   

$

48

   

300.0

%

   

$

2

   

254.4

%

Total used

$

1,014

   

$

990

   

$

24

   

2.4

%

   

$

(8)

   

3.2

%

Finance, insurance and other, net (per retail unit)

$

1,500

   

$

1,443

   

$

57

   

4.0

%

   

$

(8)

   

4.5

%

Other

                       

SG&A expenses

$

340.0

   

$

308.2

   

$

31.8

   

10.3

%

   

$

(3.0)

   

11.3

%

Adjusted SG&A expenses (1)

$

327.7

   

$

308.8

   

$

18.9

   

6.1

%

   

$

(3.0)

   

7.1

%

SG&A as % gross profit

75.5

%

 

72.6

%

 

2.9

%

             

Adjusted SG&A as % gross profit (1)

72.8

%

 

72.7

%

 

0.1

%

             

Operating margin %

2.7

%

 

2.8

%

 

(0.1)

%

             

Adjusted operating margin % (1)

3.5

%

 

3.5

%

 

%

             

 

   

(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.

Same Store Operating Data - Consolidated

(Unaudited)

(Dollars in millions, except per unit amounts)

     
   

Nine Months Ended September 30,

   

2019

 

2018

 

Increase/
(Decrease)

 

% Change

   

Currency
Impact on
Current
Period
Results

 

Constant
Currency
% Change

Revenues

                       

New vehicle retail sales

$

4,476.8

   

$

4,474.7