Group 1 Automotive, Inc. (GPI) Q1 2024 Earnings Call Transcript

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Q1: 2024-04-24 Earnings Summary

EPS of $9.53 beats by $0.11
 | Revenue of $4.47B (8.24% Y/Y) beats by $86.05M

Group 1 Automotive, Inc. (NYSE:GPI) Q1 2024 Earnings Conference Call April 24, 2024 9:00 AM ET

Company Participants

Pete DeLongchamps - SVP of Manufacturer Relations, Financial Services and Public Affairs
Daryl Kenningham - President and CEO
Daniel McHenry - SVP and CFO

Conference Call Participants

John Murphy - Bank of America
Michael Ward - Freedom Capital
David Whiston - Morningstar
Rajat Gupta - JPMorgan
Glenn Chin - Seaport Research Partners

Operator

Good morning, ladies and gentlemen. Welcome to Group 1 Automotive's First Quarter 2024 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 Senior Vice President of Manufacturer Relations, Financial Services, and Public Affairs. Please go ahead, Mr. DeLongchamps.

Pete DeLongchamps

Thank you, Jamie. And good morning, everyone, and welcome to today's call. The earnings release, we issued this morning and a 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. These risks include, but are not limited to, risks associated with pricing, volume, inventory supply due to increased customer demand and reduced manufacture production levels, due to some component shortages, conditions of markets, successful integration of our pending Inchcape acquisition, and adverse developments in the global economy, and resulting

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