- Group 1 Automotive (NYSE:GPI -2.3%) reports total revenue rose 3.8% on a constant currency basis in Q2.
- Total same-store sales slipped 2.9% to $2.58B.
- Same-store sales squeezed 3% for U.S. and increased 2.4% for U.K.
- Revenue break-up: New vehicle retail sales: $1.54B (+0.4%); Used vehicle retail sales: $715.78M (+4.9%); Used vehicle wholesale sales: $96.28M (-5.2%); Parts and service: $322.07M (+6.2%); Finance and insurance: $107.56M (+2.2%).
- Geographic sales break-up: U.S.: $2.21B (-3.5%); U.K.: $467.79M (+51.8%); Brazil: $107.28M (-18%).
- Gross margin rate grew 30 bps to 14.7%.
- Adjusted SG&A expense rate +40 bps to 10.6%.
- Adjusted operating margin rate -10 bps to 3.6%.
- Total units sold during the quarter advanced 1.2% Y/Y to 46,635 units.