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Group 1 Automotive Inc - GPI STOCK NEWS

Welcome to our dedicated page for Group 1 Automotive news (Ticker: GPI), a resource for investors and traders seeking the latest updates and insights on Group 1 Automotive stock.

Group 1 Automotive, Inc. (GPI) delivers comprehensive automotive retail solutions through dealerships, collision centers, and financing services across the United States and United Kingdom. This news hub provides investors and industry observers with essential updates about the company’s strategic developments and market position.

Access timely press releases and verified news covering quarterly earnings, dealership acquisitions, and partnership announcements. Our curated collection helps stakeholders track GPI’s expansion of its 35-brand portfolio and evolving omnichannel retail strategy.

Discover updates on operational milestones including collision center expansions, financial service innovations, and technology integrations across GPI’s network. All content is vetted for relevance to long-term investors and analysts monitoring the automotive retail sector.

Bookmark this page for streamlined access to GPI’s latest corporate communications. Check back regularly for authoritative reporting on one of automotive retail’s most geographically diversified operators.

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Group 1 Automotive, Inc. (NYSE: GPI) announced a new share repurchase authorization of $250 million and declared a quarterly dividend. The board increased the repurchase authorization by $161 million to $250 million, repurchasing 205,551 shares year-to-date at an average price of $264.74. The dividend of $0.47 per share will be payable on June 17, 2024. Group 1 owns 203 dealerships in the U.S. and U.K., offering various automotive services and products.

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Group 1 Automotive, Inc. (NYSE: GPI) has increased its revolving syndicated credit facility to $2.5 billion, with the possibility of expanding to $3.0 billion, strengthening its balance sheet. The syndication involves 20 financial institutions, including manufacturer-affiliated finance companies and commercial banks, aiming to secure reasonably priced capital for vehicle financing and acquisition growth.

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Group 1 Automotive, Inc. (NYSE: GPI) reports strong first quarter 2024 financial results with total revenues of $4.5 billion, a record high, and a 8.2% increase over the prior year. The company achieved net income of $147.4 million and diluted earnings per common share of $10.76. The U.K. sector saw significant growth with record revenues. Acquisitions and cost reduction efforts are driving future expansion.
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Group 1 Automotive, Inc. (GPI) has agreed to acquire Inchcape U.K. dealerships for approximately $439 million, expanding its presence in the U.K. market. The deal includes 54 dealership locations generating $2.7 billion in annual revenues. The transaction is expected to close in the third quarter of 2024, subject to regulatory approval.
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Group 1 Automotive, Inc. (NYSE: GPI) to release financial results for the first quarter of 2024 on April 24, 2024. Conference call hosted by CEO Daryl Kenningham to discuss the results.
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Group 1 Automotive, Inc. (NYSE: GPI) acquires Modern Classic Motors in Hilton Head, South Carolina, expanding its relationship with Mercedes-Benz and Honda. The acquisition is expected to generate $140 million in annual revenues, adding to the company's acquired revenues of $1.0 billion in 2024.
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Group 1 Automotive, Inc. (GPI) announces the acquisition of Newport Lexus and Tustin Lexus dealerships in California, expected to generate $350 million in annual revenues. Year-to-date acquired revenues for 2024 total $850 million. The company also provides a share repurchase update, having repurchased 174,964 shares at an average price of $264.88, totaling $46.3 million.
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Kerrigan Advisors facilitated the sale of RRR Automotive Group's five new car dealerships to Group 1 Automotive, expanding the latter's presence in the Washington-Baltimore region. This marks Kerrigan Advisors' 50th franchise sale in the Mid-Atlantic since 2020, solidifying its position as a leading dealership sell-side advisor. The transaction underscores the strong demand for top import franchises in economically vibrant markets, showcasing the continued attractiveness of auto dealerships as retail investments despite industry challenges. The deal reflects the growing trend of consolidators reinvesting profits into acquisitions, particularly in thriving economies like the Baltimore-Washington metro area.
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Group 1 Automotive, Inc. (NYSE: GPI) expands its U.S. portfolio in the Baltimore/Washington DC market with the acquisition of Toyota, Honda, Hyundai, and Kia dealerships, expecting annual revenues of over $500 million. The company also increases its 2024 annual dividend rate by 4% to $1.88 per share.
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Group 1 Automotive, Inc. (NYSE: GPI) reported full year revenues of $17.9 billion, a 10.2% increase over the prior year. The current quarter saw a 14.8% increase in new vehicle units sold and a record new vehicle revenue of $2.3 billion. However, net income from continuing operations decreased by 30.6% compared to the prior year quarter. The U.K. operations experienced challenges with used vehicles, leading to a 10% reduction in headcount. The full year 2023 results showed a 20.2% decrease in net income from continuing operations compared to the prior year.
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NYSE:GPI

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5.10B
12.56M
2.27%
106.19%
9.08%
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