GROUP 1 AUTOMOTIVE INC
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
GPI$268.46+2.7%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
(In millions, except per share data)
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| REVENUES: | |||
| New vehicle retail sales | $8,774.6 | $7,452.5 | $6,504.8 |
| Used vehicle retail sales | 5,693.5 | 5,673.3 | 4,438.8 |
| Used vehicle wholesale sales | 441.4 | 364.6 | 365.7 |
| Parts and service sales | 2,222.3 | 2,009.5 | 1,591.2 |
| Finance, insurance and other, net | 741.9 | 722.2 | 581.4 |
| Total revenues | 17,873.7 | 16,222.1 | 13,481.9 |
| COST OF SALES: | |||
| New vehicle retail sales | 8,007.6 | 6,627.0 | 5,894.0 |
| Used vehicle retail sales | 5,392.6 | 5,359.6 | 4,084.6 |
| Used vehicle wholesale sales | 445.2 | 364.6 | 340.9 |
| Parts and service sales | 1,008.0 | 905.8 | 721.8 |
| Total cost of sales | 14,853.4 | 13,256.9 | 11,041.2 |
| GROSS PROFIT | 3,020.3 | 2,965.2 | 2,440.7 |
| Selling, general and administrative expenses | 1,926.8 | 1,783.3 | 1,477.2 |
| Depreciation and amortization expense | 92.0 | 88.4 | 77.4 |
| Asset impairments | 32.9 | 2.1 | 1.7 |
| INCOME FROM OPERATIONS | 968.6 | 1,091.4 | 884.4 |
| INTEREST EXPENSE: | |||
| Floorplan interest expense | 64.1 | 27.3 | 27.6 |
| Other interest expense, net | 99.8 | 77.5 | 55.8 |
| Other expense | 4.5 | 1.2 | — |
| INCOME BEFORE INCOME TAXES | 800.2 | 985.3 | 800.9 |
| Provision for income taxes | 198.2 | 231.1 | 175.5 |
| Net income from continuing operations | 602.0 | 754.2 | 625.4 |
| Net loss from discontinued operations | (0.4) | (2.7) | (73.3) |
| NET INCOME | $601.6 | $751.5 | $552.1 |
| BASIC EARNINGS PER SHARE: | |||
| Continuing operations | $42.92 | $47.46 | $34.23 |
| Discontinued operations | (0.03) | (0.17) | (4.01) |
| Total | $42.89 | $47.29 | $30.22 |
| DILUTED EARNINGS PER SHARE: | |||
| Continuing operations | $42.75 | $47.31 | $34.11 |
| Discontinued operations | (0.03) | (0.17) | (4.00) |
| Total | $42.73 | $47.14 | $30.11 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||
| Basic | 13.7 | 15.4 | 17.7 |
| Diluted | 13.7 | 15.5 | 17.7 |
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