Group 1 acquisitions propel robust Q4

Group 1 acquisitions propel robust Q4

Ads Google account (news@linkdaddy.com) Privacy Terms Earnings at risk - You need to fix some ads.txt file issues to avoid severe impact to your revenue. Code generator Copy and paste the ad unit code in between the tags of your pages Place this code where you want an ad to appear. Do this for each individual ad unit, on every page. It usually takes a few minutes for ads to appear on the page but occasionally it can take up to an hour. See our code implementation guide for more details.

Group 1 continued a share buyback program during the quarter and said it repurchased more than 3 billion shares in total in 2022, representing nearly 18 percent of its outstanding common shares at the beginning of last year.

For the full year, Group 1 reported much higher revenue and flat net income

Shares of Group 1 rose 2 percent to $197.04 in afternoon trading Wednesday.

• Q4 net income: $157 million, up 80 percent compared with the year-earlier period

• Q4 revenue: $4.07 billion, up 17 percent

• Q4 net income from continuing operations: $156.7 million, down 4 percent

• Q4 new-vehicle sales: 39,992 vehicles, up 12 percent; 34,971 vehicles on a same-store basis, up 2.5 percent

• 2022 net income: $751.5 million, up 36 percent compared with 2021

• 2022 revenue: $16.22 billion, up 20 percent

• 2022 net income from continuing operations: $754.2 million, up 21 percent

• 2022 new-vehicle sales: 154,714 vehicles, up 5.9 percent; 128,684 vehicles on a same-store basis, down 10 percent

Group 1 ranked No. 4 on Automotive News‘ most recent list of the top 150 dealership groups based in the U.S., with retail sales of 146,072 new vehicles in 2021.



Source link

About The Author

Scroll to Top