Group 1 Automotive Posts Mixed Q2 Earnings Hit By CDK Outage & Adverse Weather Events
Group 1 Automotive Posts Mixed Q2 Earnings Hit By CDK Outage & Adverse Weather Events
Operating income plunged 10.9% to $241.1 million and the Group 1 Automotive Inc (NYSE:GPI) reported second-quarter FY24 sales growth of 3% year-on-year to $4.696 billion, missing the analyst consensus estimate of $4.71 billion.
Group 1 Automotive Inc（纽交所：GPI）报告FY24第二季度销售额同比增长3％，达到4696百万美元，未达到分析师的共识预期，为4710百万美元。
New vehicle retail sales grew 5.4% to $2.4 billion, Used vehicle sales climbed 0.2% to $1.5 billion and sales of Parts and services increased 2.2% to $574.5 million.
新车零售销售额增长5.4％至24亿美元，二手车销售额微涨0.2％至15亿美元。零部件和服务销售额增长2.2％至574.5百万美元。
Gross profit for the quarter decreased 1.2% to $766.5 million, and the gross margin compressed 70 basis points to 16.3%.
本季度毛利润下降1.2％至7665百万美元，毛利率下降70个基点至16.3％。
Operating income plunged 10.9% to $241.1 million and the operating margin contracted 80 basis points to 5.1%.
营业收入下降10.9％至2411百万美元，营业利润率收缩80个基点至5.1％。
Adjusted EPS of $9.80 beat the consensus estimate of $9.36.
每股收益调整后为9.80美元，超过共识预期的9.36美元。
"Our U.S. team persevered in the face of adversity this quarter. From extreme weather events in Texas and Oklahoma to the CDK outage, we experienced exemplary teamwork, focused on caring for our communities and team members and serving our valued customers efficiently and effectively. Despite these challenges, the U.S. team produced record quarterly new vehicle, parts and service and F&I revenues," said President and CEO Daryl Kenningham.
“我们的美国团队在本季度面临困难时坚定不移。从得克萨斯和俄克拉荷马州的极端天气事件到CDk的故障，我们体现了卓越的团队合作，专注于照顾我们的社区和团队成员并高效地为我们珍贵的客户提供服务。尽管存在这些挑战，美国团队在新车、零部件和服务以及F&I收入方面创下了记录，”总裁兼首席执行官Daryl Kenningham说。
The cybersecurity incident experienced by CDK Global temporarily disrupted the company's business applications and processes in its U.S. operations that rely on CDK's dealers' systems.
CDk Global遭遇的网络安全概念事件暂时中断了公司在CDK经销商系统上依赖的美国业务应用和流程。
In the second quarter, the company repurchased 149,570 shares at an average price per common share of $307.82, for a total of $46.0 million. The company currently has $204.6 million remaining in its Board-authorized common share repurchase program.
本季度，该公司回购了149,570股，平均每股普通股价格为307.82美元，总计4600万美元。公司目前在董事会授权的普通股回购计划中剩下204.6百万美元。
Group 1 held $64.4 million in cash and equivalents as of June-end. Inventories as of June-end increased 20% to $2.36 billion from December-end.
Group 1截至6月底持有6440万美元的现金和现金等价物。截至6月底，库存增长了20％，至23.6亿美元，比12月底增加。
"Our U.K. team remains focused on the acquisition of Inchcape's U.K. retail automotive business planned for Q3 2024, and we look forward to the successful completion of the transaction which will further strengthen our U.K. presence through the addition of quality assets with an expanded geographic footprint," Kenningham added.
“我们的英国团队仍专注于收购Inchcape的英国零售汽车业务，该计划计划于2024年第三季度实现，我们期待这项交易的成功完成，这将通过增加具有扩展地理覆盖范围的优质资产，进一步加强我们在英国的存在，”Kenningham补充说。
Price Action: GPI shares closed lower by 1.19% at $304.76 on Tuesday.
股价走势：GPI股票周二收于304.76美元，下跌1.19％。