Group 1 Automotive -9% after warning on Q1 earnings [Seeking Alpha]
Group 1 Automotive, Inc. (GPI)
Last group 1 automotive, inc. earnings: 2/5 07:07 am
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Source: Seeking Alpha
Group 1 Automotive -9% after warning on Q1 earningsGroup 1 Automotive (NYSE:GPI) plunges after warning thatQ1 earnings will be hurt by weak market conditions, including pressure on used car margins.GPI also cites an anticipated $3M in costs during Q1 and Q2 associated with a series of long-term investments designed to strengthen the used vehicle, parts and service components of its business, including the introduction of Val-U-Line, a brand for high mileage pre-owned vehicles, and investments in aftersales and retention programs for dealership employees."The recent peak in the new vehicle market in both the U.S. and U.K. and the flood of nearly-new and off-lease used vehicles into these markets are applying significant pressure to our margins, which require that we seek additional used car and service volume [through] some significant upfront investments to support our long-term strategies," GPI says.See all stocks on the move »Now read:Lithia Motors: Not A Jalopy »
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News
- Group 1 Automotive, Inc. (NYSE:GPI) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Group 1 Automotive (GPI) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
- Group 1 Automotive Reports First Quarter 2024 Financial ResultsPR Newswire
- Group 1 Automotive, Inc. (NYSE: GPI) was upgraded by analysts at Guggenheim from a "neutral" rating to a "buy" rating. They now have a $305.00 price target on the stock.MarketBeat
- The total return for Group 1 Automotive (NYSE:GPI) investors has risen faster than earnings growth over the last five years [Yahoo! Finance]Yahoo! Finance
GPI
Earnings
- 4/24/24 - Miss
GPI
Sec Filings
- 4/24/24 - Form DEFA14A
- 4/24/24 - Form 8-K
- 4/18/24 - Form DEFA14A
- GPI's page on the SEC website