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Group 1 Automotive's (GPI) CEO Earl Hesterberg on Q1 2021 Results - Earnings Call Transcript

May 01, 2021 2:25 PM ETGroup 1 Automotive, Inc. (GPI)
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Group 1 Automotive, Inc. (NYSE:GPI) Q1 2021 Earnings Conference Call April 29, 2021 10:00 AM ET

Company Participants

Pete DeLongchamps – Senior Vice President-Manufacturer Relations, Financial Services and Public Affairs

Daryl Kenningham – President-U.S. and Brazilian Operations

Daniel McHenry – Senior Vice President and Chief Financial Officer

Earl Hesterberg – President and Chief Executive Officer

Conference Call Participants

Michael Ward – Benchmark

John Murphy – Bank of America

Rick Nelson – Stephens

Rajat Gupta – JPMorgan

David Whiston – Morningstar


Good morning, ladies and gentlemen. Welcome to Group one Automotive's 2021 First Quarter Financial Results Conference Call. [Operator Instructions]

At this time, I'd like to turn the conference call over to Mr. Pete DeLongchamps, Group 1's, Senior Vice President of Manufacturer Relations, Financial Services and Public Affairs. Please go ahead, Mr. DeLongchamps.

Pete DeLongchamps

Thank you, Jamie. Good morning, everyone, and welcome to today's call. The earnings release we issued this morning and the related slide presentation that include reconciliations related to the adjusted results. We will refer to on this call for comparison purposes have been posted to Group 1's website.

Before we begin, I'd like to make some brief remarks about forward-looking statements and the use of non-GAAP financial measures. Except for historical information mentioned during the conference call, statements made by management of Group one Automotive are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements involve both known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. Those risks include, but are not limited to, risks associated with pricing, volume, conditions of markets, adverse developments in the global economy as well as the public health crisis related to COVID-19 and resulting impacts on demand for new and

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