Group 1 Automotive, Inc. (GPI) Q1 2023 Earnings Call Transcript

Group 1 Automotive, Inc. (NYSE:GPI) Q1 2023 Earnings Conference Call April 26, 2023 10:00 AM ET

Company Participants

Daryl Kenningham - President, Chief Executive Officer
Daniel McHenry - Senior Vice President, Chief Financial Officer
Peter DeLongchamps - Senior Vice President of Manufacturer Relations, Financial Services and Public Affairs

Conference Call Participants

John Murphy - Bank of America
Daniel Imbro - Stephens Incorporated
Adam Jonas - Morgan Stanley
David Whiston - Morningstar
Rajat Gupta - J.P. Morgan
Glenn Chen - Seaport Research Partners
Michael Ward - Benchmark

Operator

Good morning, ladies and gentlemen. Welcome to Group 1 Automotive's 2023 First Quarter Financial Results Conference Call. Please be advised that this call is being recorded.

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

Peter DeLongchamps

Thank you, Jamie, and 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 1 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, inventory supply due to the increased customer demand and reduced manufacturing production levels due