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Group 1 Automotive (GPI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Group 1 Automotive (GPI - Free Report) reported revenue of $4.7 billion, up 3% over the same period last year. EPS came in at $9.80, compared to $11.73 in the year-ago quarter.
The reported revenue represents a surprise of -1.50% over the Zacks Consensus Estimate of $4.77 billion. With the consensus EPS estimate being $9.43, the EPS surprise was +3.92%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Group 1 Automotive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Units sold - United States - Retail new vehicles sold: 39,273 versus 38,409 estimated by three analysts on average.
Units sold - United States - Retail used vehicles sold: 38,611 versus 37,999 estimated by three analysts on average.
Average sales price per unit sold - United States - New Vehicle Retail: $51,169 versus the three-analyst average estimate of $51,248.50.
Average sales price per unit sold - United States - Used Vehicle Retail: $29,834 versus the three-analyst average estimate of $30,096.02.
Revenues- United States - New vehicle retail sales: $2.01 billion compared to the $1.97 billion average estimate based on three analysts. The reported number represents a change of +4.9% year over year.
Revenues- United States - Used vehicle retail sales: $1.15 billion versus the three-analyst average estimate of $1.14 billion. The reported number represents a year-over-year change of +1.1%.
Revenues- United Kingdom - New vehicle retail sales: $354.60 million compared to the $365.31 million average estimate based on three analysts. The reported number represents a change of +8.2% year over year.
Revenues- United Kingdom - F&I, net: $16.30 million versus the three-analyst average estimate of $18.75 million. The reported number represents a year-over-year change of -4.7%.
Revenues- New vehicle retail sales: $2.36 billion versus $2.35 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
Revenues- Finance, insurance and other, net: $200.10 million versus $201.13 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.2% change.
Revenues- Total Used vehicle: $1.56 billion versus the four-analyst average estimate of $1.61 billion. The reported number represents a year-over-year change of -0.4%.
Revenues- Used vehicle wholesale sales: $104.30 million versus the four-analyst average estimate of $119.88 million. The reported number represents a year-over-year change of -7.3%.
Shares of Group 1 Automotive have returned +3.8% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Group 1 Automotive (GPI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Group 1 Automotive (GPI - Free Report) reported revenue of $4.7 billion, up 3% over the same period last year. EPS came in at $9.80, compared to $11.73 in the year-ago quarter.
The reported revenue represents a surprise of -1.50% over the Zacks Consensus Estimate of $4.77 billion. With the consensus EPS estimate being $9.43, the EPS surprise was +3.92%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Group 1 Automotive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Units sold - United States - Retail new vehicles sold: 39,273 versus 38,409 estimated by three analysts on average.
- Units sold - United States - Retail used vehicles sold: 38,611 versus 37,999 estimated by three analysts on average.
- Average sales price per unit sold - United States - New Vehicle Retail: $51,169 versus the three-analyst average estimate of $51,248.50.
- Average sales price per unit sold - United States - Used Vehicle Retail: $29,834 versus the three-analyst average estimate of $30,096.02.
- Revenues- United States - New vehicle retail sales: $2.01 billion compared to the $1.97 billion average estimate based on three analysts. The reported number represents a change of +4.9% year over year.
- Revenues- United States - Used vehicle retail sales: $1.15 billion versus the three-analyst average estimate of $1.14 billion. The reported number represents a year-over-year change of +1.1%.
- Revenues- United Kingdom - New vehicle retail sales: $354.60 million compared to the $365.31 million average estimate based on three analysts. The reported number represents a change of +8.2% year over year.
- Revenues- United Kingdom - F&I, net: $16.30 million versus the three-analyst average estimate of $18.75 million. The reported number represents a year-over-year change of -4.7%.
- Revenues- New vehicle retail sales: $2.36 billion versus $2.35 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
- Revenues- Finance, insurance and other, net: $200.10 million versus $201.13 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.2% change.
- Revenues- Total Used vehicle: $1.56 billion versus the four-analyst average estimate of $1.61 billion. The reported number represents a year-over-year change of -0.4%.
- Revenues- Used vehicle wholesale sales: $104.30 million versus the four-analyst average estimate of $119.88 million. The reported number represents a year-over-year change of -7.3%.
View all Key Company Metrics for Group 1 Automotive here>>>Shares of Group 1 Automotive have returned +3.8% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.