EX-99.1 2 a2023q4exhibit991.htm Q4 AND FULL YEAR 2023 EARNINGS RELEASE Document
Exhibit 99.1

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FOR IMMEDIATE RELEASE
Group 1 Automotive Reports Fourth Quarter and Full Year 2023 Financial Results
Full year revenues reach all-time high of $17.9 billion; a 10.2% increase over the comparable prior year period
Current quarter new vehicle units sold increased 14.8% over the comparable prior year period
Current quarter diluted earnings per common share from continuing operations of $7.87 and current quarter adjusted diluted earnings per common share from continuing operations (a non-GAAP measure) of $9.50
HOUSTON, January 31, 2024 — Group 1 Automotive, Inc. (NYSE: GPI) (“Group 1” or the “Company”), an international, Fortune 300 automotive retailer with 199 dealerships located in the U.S. and U.K., today reported financial results for the fourth quarter of 2023 (“current quarter”) and full year 2023 (“current year”).
Current quarter net income from continuing operations was $108.8 million. Current quarter adjusted net income from continuing operations (a non-GAAP measure) was $131.2 million. Current quarter diluted earnings per common share from continuing operations was $7.87. Current quarter adjusted diluted earnings per common share from continuing operations (a non-GAAP measure) was $9.50. Current quarter new vehicle revenues were a record of $2.3 billion and parts and service continued to produce year-over-year growth.
Current year total revenues of $17.9 billion were the highest in Company history, with growth across all lines of business. Current year total gross profit exceeded $3.0 billion, an all-time record driven by gross profit of $1.2 billion by our parts and service business. In addition, the Company delivered record new and used vehicle units sold for the current year. The U.K. delivered record current year revenues of $3.1 billion, driven by all lines of service and record gross profit, driven by new vehicles and parts and service.
“Our U.S. team produced another strong quarter and full year results. We continue to execute well in this evolving U.S. market. We experienced challenges in our U.K. operations during the current quarter with used vehicles and recognize we have some work ahead of us to bring our costs back in-line with recent trends,” said Daryl Kenningham, Group 1’s President and Chief Executive Officer. “We are focused on reducing costs in the U.K. in the first quarter of 2024, with an expectation of reducing our U.K. headcount by approximately 10%.”
Reconciliations for financial results, non-GAAP metrics, and diluted earnings per common share between continuing and discontinued operations are included in the accompanying financial tables.
Current Quarter Results Overview
Total revenues for the current quarter were $4.5 billion, a 10.1% increase compared to $4.1 billion for the fourth quarter of 2022 (“prior year quarter”).
Net income from continuing operations for the current quarter was $108.8 million, a 30.6% decrease compared to $156.7 million for the prior year quarter. Current quarter adjusted net income from continuing operations (a non-GAAP measure) was $131.2 million, a 17.2% decrease compared to $158.4 million for the prior year quarter.
Current quarter diluted earnings per common share from continuing operations was $7.87, a 26.8% decrease compared to $10.75 for the prior year quarter. Current quarter adjusted diluted earnings per common share from continuing operations (a non-GAAP measure) was $9.50, a 12.6% decrease compared to $10.86 for the prior year quarter.
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New vehicle units sold increased 14.8%. However, declining new vehicle margins, increased SG&A as a percentage of gross profit and higher interest expense pressured net income and earnings per common share versus the prior year quarter. Specifically, SG&A as a percentage of gross profit increased 7.5% in the U.K., driven by higher SG&A expenses and lower margins on new and used vehicles. During the current quarter, our U.K. operations began a rebalancing of our used vehicle inventory in response to market changes, which generated losses on used vehicle wholesale sales in the current quarter, which are expected to continue into the quarterly period ended March 31, 2024. Despite the current quarter challenges, our U.K. team, delivered record current year revenues, driven by all lines of service and record gross profit, driven by new vehicles and parts and service.
Fourth Quarter 2023
Key Performance Metrics
(year-over-year comparable period basis)
Consolidated
Same Store
(a non-GAAP measure)
Reported:
4Q23
Change
4Q23
Change
Total revenues
$4.5B
+10.1%
$4.2B
+6.2%
Total gross profit (“GP”)
$730.6M
+1.6%
$690.0M
(1.5)%
NV units sold
45,827
+14.8%
43,087
+10.6%
NV GP per retail unit (“PRU”)
$4,025
(22.5)%
$3,986
(23.3)%
Used vehicle (“UV”) retail units sold
44,656
+2.5%
42,534
+0.4%
UV retail GP PRU
$1,434
+3.5%
$1,413
+1.2%
Parts & service (“P&S”) GP
$299.3M
+6.5%
$287.0M
+5.6%
P&S Gross Margin (“GM”)
54.9%
+0.7%
54.6%
0.3%
Finance and Insurance (“F&I”) revenues
$187.1M
+8.4%
$175.6M
+4.1%
F&I GP PRU
$2,068
0.0%
$2,051
(1.1)%
Selling, General and Administrative (“SG&A”) expenses as a % of GP
66.7%
+364 bps
67.4%
+454 bps
Adjusted SG&A expenses (a non-GAAP measure) as a % of GP
66.5%
+353 bps
66.8%
+404 bps
Full Year 2023 Results Overview
Current year total revenues were a record $17.9 billion, a 10.2% increase compared to $16.2 billion for the full year 2022 (“prior year”).
Current year net income from continuing operations was $602.0 million, a 20.2% decrease compared to $754.2 million for the prior year. Current year adjusted net income from continuing operations (a non-GAAP measure) was $623.3 million, a 14.5% decrease compared to $728.7 million for the prior year.
Current year diluted earnings per common share from continuing operations was $42.75, a 9.6% decrease compared to $47.31 for the prior year. Current year adjusted diluted earnings per common share from continuing operations (a non-GAAP measure) was $44.27, a 3.2% decrease compared to $45.71 for the prior year. Current year and prior year adjusted diluted earnings per common share from continuing operations exclude adjusted diluted (loss) earnings per common share from discontinued operations of $(0.03) and $0.14, respectively.
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As a result of lower new and used vehicle margins, increased SG&A expenses, and higher interest costs, net income and earnings per common share were adversely impacted versus the prior year.
Full Year 2023
Key Performance Metrics
(year-over-year comparable period basis)
Consolidated
Same Store
(a non-GAAP measure)
Reported:
FY23
Change
FY23
Change
Total revenues
$17.9B
+10.2%
$16.8B
+6.1%
Total GP
$3.0B
+1.9%
$2.9B
(1.2)%
NV units sold
175,566
+13.5%
165,659
10.0%
NV GP PRU
$4,369
(18.1)%
$4,312
(19.4)%
UV retail units sold
187,656
+1.6%
178,782
(0.8)%
UV retail GP PRU
$1,604
(5.6)%
$1,596
(6.5)%
P&S GP
$1.2B
+10.0%
$1,159.8M
+8.1%
P&S GM
54.6%
(0.3)%
54.5%
(0.4)%
F&I revenues
$741.9M
+2.7%
$700.4M
(0.7)%
F&I GP PRU
$2,043
(4.0)%
$2,033
(4.6)%
SG&A expenses as a % of GP
63.8%
+365 bps
64.6%
+336 bps
Adjusted SG&A expenses (a non-GAAP measure) as a % of GP
64.2%
+283 bps
64.2%
+310 bps
Corporate Development
A major contributor to our success and a driver of incremental value creation for our shareholders is the speed and efficiency at which we have been able to integrate new acquisitions into our existing operations. In the current year, the Company successfully acquired and integrated dealership operations with total expected annual revenues of approximately $1.1 billion, including the resolution in the current quarter of the previously pending acquisition of a Subaru dealership in New Hampshire. This acquisition is expected to generate $65.0 million of annual revenues.
In the current quarter, the Company disposed of a Land Rover and Volvo dealership in Louisiana. These dealerships generated approximately $45.0 million in annual revenues.
Share Repurchases
During the current quarter, the Company repurchased 160,968 shares at an average price per common share of $262.25, for a total of $42.2 million, excluding excise taxes of $0.4 million. During the current year, the Company repurchased 729,582 shares, representing approximately 5.1% of the Company’s outstanding common shares at January 1 of the current year, at an average price per common share of $236.78, for a total of $172.8 million, excluding excise taxes of $1.5 million. During the period January 1, 2022 to December 31, 2023, the Company repurchased 3,750,605 shares, at an average price per common share of $185.04, for a total of $694.0 million, representing approximately 21.8% of the common shares outstanding at the commencement of the period.
As of December 31, 2023, the Company had an aggregate 13.7 million outstanding common shares and unvested restricted stock awards. The Company currently has $143.3 million remaining on its Board authorized common share repurchase program.
Future repurchases may be made from time to time, based on market conditions, legal requirements, and other corporate considerations, in the open market or in privately negotiated transactions, and subject to Board approval and covenant restrictions.
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Fourth Quarter and Full Year 2023 Earnings Conference Call Details
Group 1’s senior management will host a conference call today at 10:00 a.m. ET to discuss the fourth quarter and full year 2023 financial results. The conference call will be simulcast live on the Internet at group1corp.com/events. A webcast replay will be available for 30 days. A copy of the Company’s presentation will also be made available at http://www.group1corp.com/company-presentations.
The conference call will also be available live by dialing in 10 minutes prior to the start of the call at:
Domestic: 1-888-317-6003
International: 1-412-317-6061
Passcode:     1057644
A telephonic replay will be available following the call through February 7, 2024, by dialing:
Domestic: 1-877-344-7529
International: 1-412-317-0088
Replay Code:    5094882
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 199 automotive dealerships, 267 franchises, and 41 collision centers in the United States and the United Kingdom that offer 35 brands of automobiles. Through its dealerships and omni-channel platform, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service contracts; provides automotive maintenance and repair services; and sells vehicle parts.
Group 1 discloses additional information about the Company, its business, and its results of operations at www.group1corp.com, www.group1auto.com, www.group1collision.com, www.acceleride.com, www.facebook.com/group1auto, and www.twitter.com/group1auto.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements related to future, not past, events and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. In this context, the forward-looking statements often include statements regarding our strategic investments, goals, plans, projections and guidance regarding our financial position, results of operations and business strategy, including the annualized revenues of recently completed acquisitions or dispositions and other benefits of such currently anticipated or recently completed acquisitions or dispositions. These forward-looking statements often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," "foresee," "may" or "will" and similar expressions. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of manufacturer incentives, (c) the future regulatory environment, (d) our ability to obtain an inventory of desirable new and used vehicles, (e) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (f) our cost of financing and the availability of credit for consumers, (g) our ability to complete acquisitions and dispositions, on a timely basis, if at all and the risks associated therewith, (h) foreign exchange controls and currency fluctuations, (i) the armed conflicts in Ukraine and the Middle East, (j) the impacts of any potential global recession, (k) our ability to maintain sufficient liquidity to operate, and (l) our ability to successfully integrate recent and future acquisitions. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
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NON-GAAP FINANCIAL MEASURES, SAME STORE DATA, AND OTHER DATA
In addition to evaluating the financial condition and results of our operations in accordance with U.S. GAAP, from time to time our management evaluates and analyzes results and any impact on the Company of strategic decisions and actions relating to, among other things, cost reduction, growth, profitability improvement initiatives, and other events outside of normal, or "core," business and operations, by considering alternative financial measures not prepared in accordance with U.S. GAAP. In our evaluation of results from time to time, we exclude items that do not arise directly from core operations, such as non-cash asset impairment charges, out-of-period adjustments, legal matters, gains and losses on dealership franchise or real estate transactions, and catastrophic events, such as hailstorms, hurricanes, and snow storms. Because these non-core charges and gains materially affect the Company's financial condition or results in the specific period in which they are recognized, management also evaluates, and makes resource allocation and performance evaluation decisions based on, the related non-GAAP measures excluding such items. This includes evaluating measures such as adjusted selling, general and administrative expenses, adjusted net income, adjusted diluted earnings per share, and constant currency. These adjusted measures are not measures of financial performance under U.S. GAAP, but are instead considered non-GAAP financial performance measures. Non-GAAP measures do not have definitions under U.S. GAAP and may be defined differently by, and not be comparable to similarly titled measures used by, other companies. As a result, any non-GAAP financial measures considered and evaluated by management are reviewed in conjunction with a review of the most directly comparable measures calculated in accordance with U.S. GAAP. We caution investors not to place undue reliance on such non-GAAP measures, but also to consider them with the most directly comparable U.S. GAAP measures.
In addition to using such non-GAAP measures to evaluate results in a specific period, management believes that such measures may provide more complete and consistent comparisons of operational performance on a period-over-period historical basis and a better indication of expected future trends. Our management also uses these adjusted measures in conjunction with U.S. GAAP financial measures to assess our business, including communication with our Board of Directors, investors, and industry analysts concerning financial performance. We disclose these non-GAAP measures, and the related reconciliations, because we believe investors use these metrics in evaluating longer-term period-over-period performance, and to allow investors to better understand and evaluate the information used by management to assess operating performance. The exclusion of certain expenses in the calculation of non-GAAP financial measures should not be construed as an inference that these costs are unusual or infrequent. We anticipate excluding these expenses in the future presentation of our non-GAAP financial measures.
In addition, we evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our underlying business and results of operations, consistent with how we evaluate our performance. We calculate constant currency percentages by converting our current period reported results for entities reporting in currencies other than U.S. dollars using comparative period exchange rates rather than the actual exchange rates in effect during the respective periods. The constant currency performance measures should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with U.S. GAAP. The Same Store amounts presented include the results of dealerships for the identical months in each period presented in comparison, commencing with the first full month in which the dealership was owned by us and, in the case of dispositions, ending with the last full month it was owned by us. Same Store results also include the activities of our corporate headquarters.
Certain amounts in the financial statements may not compute due to rounding. All computations have been calculated using unrounded amounts for all periods presented.
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Investor contacts:
Terry Bratton
Manager, Investor Relations
Group 1 Automotive, Inc.
ir@group1auto.com
Media contacts:
Pete DeLongchamps
Senior Vice President, Manufacturer Relations, Financial Services and Public Affairs
Group 1 Automotive, Inc.
pdelongchamps@group1auto.com
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223 | cwoods@piercom.com

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Group 1 Automotive, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In millions, except per share data)
Three Months Ended December 31,
20232022Increase/(Decrease)% Change
REVENUES:  
New vehicle retail sales$2,311.2 $1,972.8 $338.4 17.2 %
Used vehicle retail sales1,334.5 1,319.4 15.1 1.1 %
Used vehicle wholesale sales102.3 85.7 16.6 19.3 %
Parts and service sales545.0 518.4 26.5 5.1 %
Finance, insurance and other, net187.1 172.7 14.5 8.4 %
Total revenues4,480.0 4,069.0 411.1 10.1 %
COST OF SALES:
New vehicle retail sales2,126.7 1,765.4 361.3 20.5 %
Used vehicle retail sales1,270.4 1,259.0 11.4 0.9 %
Used vehicle wholesale sales106.6 87.8 18.8 21.4 %
Parts and service sales245.7 237.3 8.4 3.5 %
Total cost of sales3,749.4 3,349.5 399.9 11.9 %
GROSS PROFIT730.6 719.4 11.2 1.6 %
Selling, general and administrative expenses487.4 453.8 33.7 7.4 %
Depreciation and amortization expense23.4 22.4 0.9 4.2 %
Asset impairments25.1 1.3 23.8 1,801.5 %
INCOME FROM OPERATIONS194.7 241.9 (47.2)(19.5)%
Floorplan interest expense19.4 9.6 9.7 101.4 %
Other interest expense, net27.7 22.0 5.7 25.8 %
Other expense2.2 4.6 (2.4)(52.2)%
INCOME BEFORE INCOME TAXES145.4 205.7 (60.2)(29.3)%
Provision for income taxes36.6 48.9 (12.3)(25.1)%
Net income from continuing operations108.8 156.7 (47.9)(30.6)%
Net (loss) income from discontinued operations— 0.2 (0.3)(122.3)%
NET INCOME$108.8 $157.0 $(48.2)(30.7)%
Less: Earnings allocated to participating securities2.6 4.6 (2.0)(43.5)%
Net income available to diluted common shares$106.2 $152.4 $(46.2)(30.3)%
Diluted earnings per share from continuing operations$7.87 $10.75 $(2.88)(26.8)%
Diluted (loss) earnings per share from discontinued operations$— $0.01 $(0.02)(123.5)%
DILUTED EARNINGS PER SHARE$7.87 $10.76 $(2.89)(26.9)%
Weighted average dilutive common shares outstanding13.5 14.2 (0.7)(4.7)%
Weighted average participating securities0.3 0.4 (0.1)(22.6)%
Total weighted average shares 13.8 14.6 (0.8)(5.2)%
Effective tax rate on continuing operations25.2 %23.8 %1.4 %


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Group 1 Automotive, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In millions, except per share data)
Years Ended December 31,
 20232022Increase/(Decrease)% Change
REVENUES:
New vehicle retail sales$8,774.6 $7,452.5 $1,322.0 17.7 %
Used vehicle retail sales5,693.5 5,673.3 20.2 0.4 %
Used vehicle wholesale sales441.4 364.6 76.9 21.1 %
Parts and service sales2,222.3 2,009.5 212.7 10.6 %
Finance, insurance and other, net741.9 722.2 19.7 2.7 %
Total revenues17,873.7 16,222.1 1,651.6 10.2 %
COST OF SALES:
New vehicle retail sales8,007.6 6,627.0 1,380.6 20.8 %
Used vehicle retail sales5,392.6 5,359.6 33.0 0.6 %
Used vehicle wholesale sales445.2 364.6 80.7 22.1 %
Parts and service sales1,008.0 905.8 102.2 11.3 %
Total cost of sales14,853.4 13,256.9 1,596.5 12.0 %
GROSS PROFIT3,020.3 2,965.2 55.1 1.9 %
Selling, general and administrative expenses1,926.8 1,783.3 143.4 8.0 %
Depreciation and amortization expense92.0 88.4 3.7 4.1 %
Asset impairments32.9 2.1 30.7 1,440.6 %
INCOME FROM OPERATIONS968.6 1,091.4 (122.7)(11.2)%
Floorplan interest expense64.1 27.3 36.8 134.9 %
Other interest expense, net99.8 77.5 22.3 28.7 %
Other expense (income), net
4.5 1.2 3.3 273.4 %
INCOME BEFORE INCOME TAXES800.2 985.3 (185.1)(18.8)%
Provision for income taxes198.2 231.1 (32.9)(14.2)%
Net income from continuing operations602.0 754.2 (152.3)(20.2)%
Net loss from discontinued operations(0.4)(2.7)2.3 (86.6)%
NET INCOME$601.6 $751.5 $(149.9)(19.9)%
Less: Earnings allocated to participating securities14.8 21.2 (6.4)(30.4)%
Net income available to diluted common shares$586.9 $730.3 $(143.5)(19.6)%
Diluted earnings per share from continuing operations$42.75 $47.31 $(4.55)(9.6)%
Diluted loss per share from discontinued operations$(0.03)$(0.17)$0.14 (84.8)%
DILUTED EARNINGS PER SHARE$42.73 $47.14 $(4.41)(9.4)%
Weighted average dilutive common shares outstanding13.7 15.5 (1.8)(11.4)%
Weighted average participating securities0.3 0.5 (0.1)(23.2)%
Total weighted average shares 14.1 15.9 (1.9)(11.7)%
Effective tax rate on continuing operations24.8 %23.5 %1.3 %


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Group 1 Automotive, Inc.
Additional Information — Consolidated
(Unaudited)
December 31, 2023December 31, 2022Increase/(Decrease)% Change
SELECTED BALANCE SHEET INFORMATION:
(In millions)
Cash and cash equivalents$57.2 $47.9 $9.4 19.5 %
Inventories, net$1,963.4 $1,356.6 $606.8 44.7 %
Floorplan notes payable, net (1)
$1,565.4 $1,005.2 $560.3 55.7 %
Total debt$2,098.8 $2,082.5 $16.3 0.8 %
Total equity$2,674.4 $2,237.5 $436.9 19.5 %
(1) Amounts are net of offset accounts of $275.2 and $153.6, respectively.
Three Months Ended December 31,Years Ended December 31,
2023202220232022
NEW VEHICLE UNIT SALES GEOGRAPHIC MIX:
United States 83.3 %80.3 %81.3 %80.8 %
United Kingdom16.7 %19.7 %18.7 %19.2 %
NEW VEHICLE UNIT SALES BRAND MIX:
Toyota/Lexus26.7 %24.5 %24.0 %24.4 %
Volkswagen/Audi/Porsche/SEAT/SKODA13.4 %15.2 %15.2 %15.6 %
BMW/MINI12.8 %14.7 %11.8 %13.3 %
Chevrolet/GMC/Buick9.3 %7.0 %9.0 %6.6 %
Ford/Lincoln6.9 %8.1 %7.5 %8.2 %
Honda/Acura7.3 %6.7 %7.5 %6.8 %
Mercedes-Benz/Sprinter6.0 %5.9 %6.2 %6.1 %
Hyundai/Kia/Genesis5.1 %4.6 %5.2 %4.8 %
Chrysler/Dodge/Jeep/RAM3.1 %3.8 %3.7 %4.8 %
Nissan2.9 %3.8 %3.6 %3.7 %
Subaru3.3 %2.6 %2.9 %2.6 %
Jaguar/Land Rover1.6 %1.6 %1.7 %1.6 %
Mazda1.3 %1.2 %1.2 %1.2 %
Other0.3 %0.3 %0.3 %0.3 %
100.0 %100.0 %100.0 %100.0 %
December 31, 2023December 31, 2022
DAYS’ SUPPLY IN INVENTORY (1):
Consolidated
New vehicle inventory3724
Used vehicle inventory3534
U.S.
New vehicle inventory3621
Used vehicle inventory2928
U.K.
New vehicle inventory4836
Used vehicle inventory5863
(1) Days’ supply in inventory is calculated based on inventory unit levels and 30-day total unit sales volumes, both at the end of each reporting period.
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Group 1 Automotive, Inc.
Reported Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)
Three Months Ended December 31,
20232022Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$2,311.2 $1,972.8 $338.4 17.2 %$17.7 16.3 %
Used vehicle retail sales1,334.5 1,319.4 15.1 1.1 %15.2 — %
Used vehicle wholesale sales102.3 85.7 16.6 19.3 %1.6 17.5 %
Total used1,436.8 1,405.1 31.7 2.3 %16.8 1.1 %
Parts and service sales545.0 518.4 26.5 5.1 %3.9 4.4 %
F&I, net187.1 172.7 14.5 8.4 %0.9 7.9 %
Total revenues$4,480.0 $4,069.0 $411.1 10.1 %$39.2 9.1 %
Gross profit: 
New vehicle retail sales$184.5 $207.4 $(22.9)(11.1)%$1.4 (11.7)%
Used vehicle retail sales64.1 60.4 3.7 6.1 %0.6 5.1 %
Used vehicle wholesale sales(4.3)(2.1)(2.2)(108.0)%(0.1)(102.7)%
Total used59.8 58.3 1.5 2.5 %0.5 1.7 %
Parts and service sales299.3 281.1 18.2 6.5 %2.2 5.7 %
F&I, net187.1 172.7 14.5 8.4 %0.9 7.9 %
Total gross profit$730.6 $719.4 $11.2 1.6 %$4.8 0.9 %
Gross margin:
New vehicle retail sales8.0 %10.5 %(2.5)%
Used vehicle retail sales4.8 %4.6 %0.2 %
Used vehicle wholesale sales(4.2)%(2.4)%(1.8)%
Total used4.2 %4.1 %— %
Parts and service sales54.9 %54.2 %0.7 %
Total gross margin16.3 %17.7 %(1.4)%
Units sold:
Retail new vehicles sold (1)
45,827 39,922 5,905 14.8 %
Retail used vehicles sold44,656 43,560 1,096 2.5 %
Wholesale used vehicles sold11,156 9,003 2,153 23.9 %
Total used55,812 52,563 3,249 6.2 %
Average sales price per unit sold:
New vehicle retail (1)
$50,760 $49,416 $1,344 2.7 %$713 1.3 %
Used vehicle retail$29,884 $30,289 $(405)(1.3)%$340 (2.5)%
Gross profit per unit sold:
New vehicle retail sales$4,025 $5,195 $(1,170)(22.5)%$30 (23.1)%
Used vehicle retail sales$1,434 $1,386 $49 3.5 %$13 2.5 %
Used vehicle wholesale sales$(386)$(230)$(156)(67.9)%$(10)(63.6)%
Total used$1,071 $1,109 $(39)(3.5)%$(4.3)%
F&I PRU$2,068 $2,068 $— — %$(0.5)%
Other:
SG&A expenses$487.4 $453.8 $33.7 7.4 %$3.9 6.6 %
Adjusted SG&A expenses (2)
$485.7 $452.9 $32.8 7.2 %$4.1 6.3 %
SG&A as % gross profit66.7 %63.1 %3.6 %
Adjusted SG&A as % gross profit (2)
66.5 %62.9 %3.5 %
Operating margin %4.3 %5.9 %(1.6)%
Adjusted operating margin % (2)
5.0 %6.0 %(1.0)%
Pretax margin %3.2 %5.1 %(1.8)%
Adjusted pretax margin % (2)
3.9 %5.1 %(1.3)%
Floorplan expense:
Floorplan interest expense$19.4 $9.6 $9.7 101.4 %$0.1 99.8 %
Less: Floorplan assistance (3)
19.3 13.9 5.5 39.3 %— 39.3 %
Net floorplan expense$— $(4.3)$4.3 $0.1 
(1) Retail new vehicle units sold for 2023 include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
(3) Floorplan assistance is included within New vehicle retail Gross profit above and New vehicle retail Cost of sales in our Condensed Consolidated Statements of Operations.
10


Group 1 Automotive, Inc.
Reported Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)
Years Ended December 31,
20232022Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$8,774.6 $7,452.5 $1,322.0 17.7 %$13.9 17.6 %
Used vehicle retail sales5,693.5 5,673.3 20.2 0.4 %3.7 0.3 %
Used vehicle wholesale sales441.4 364.6 76.9 21.1 %0.1 21.1 %
Total used6,135.0 6,037.9 97.1 1.6 %3.8 1.5 %
Parts and service sales2,222.3 2,009.5 212.7 10.6 %2.5 10.5 %
F&I, net741.9 722.2 19.7 2.7 %0.4 2.7 %
Total revenues$17,873.7 $16,222.1 $1,651.6 10.2 %$20.4 10.1 %
Gross profit: 
New vehicle retail sales$767.0 $825.6 $(58.6)(7.1)%$1.5 (7.3)%
Used vehicle retail sales300.9 313.8 (12.8)(4.1)%0.1 (4.1)%
Used vehicle wholesale sales(3.8)— (3.8)NM— NM
Total used297.2 313.8 (16.6)(5.3)%— (5.3)%
Parts and service sales1,214.2 1,103.7 110.5 10.0 %1.3 9.9 %
F&I, net741.9 722.2 19.7 2.7 %0.4 2.7 %
Total gross profit$3,020.3 $2,965.2 $55.1 1.9 %$3.1 1.8 %
Gross margin:
New vehicle retail sales8.7 %11.1 %(2.3)%
Used vehicle retail sales5.3 %5.5 %(0.2)%
Used vehicle wholesale sales(0.9)%— %(0.9)%
Total used4.8 %5.2 %(0.4)%
Parts and service sales54.6 %54.9 %(0.3)%
Total gross margin16.9 %18.3 %(1.4)%
Units sold:
Retail new vehicles sold (1)
175,566 154,714 20,852 13.5 %
Retail used vehicles sold187,656 184,700 2,956 1.6 %
Wholesale used vehicles sold43,763 37,072 6,691 18.0 %
Total used231,419 221,772 9,647 4.3 %
Average sales price per unit sold:
New vehicle retail (1)
$50,325 $48,170 $2,156 4.5 %$426 3.6 %
Used vehicle retail$30,340 $30,716 $(376)(1.2)%$20 (1.3)%
Gross profit per unit sold:
New vehicle retail sales$4,369 $5,336 $(967)(18.1)%$(18.3)%
Used vehicle retail sales$1,604 $1,699 $(95)(5.6)%$— (5.6)%
Used vehicle wholesale sales$(86)$— $(86)NM$(1)NM
Total used$1,284 $1,415 $(131)(9.2)%$— (9.2)%
F&I PRU$2,043 $2,128 $(85)(4.0)%$(4.1)%
Other:
SG&A expenses$1,926.8 $1,783.3 $143.4 8.0 %$2.7 7.9 %
Adjusted SG&A expenses (2)
$1,938.4 $1,819.2 $119.2 6.5 %$2.5 6.4 %
SG&A as % gross profit63.8 %60.1 %3.7 %
Adjusted SG&A as % gross profit (2)
64.2 %61.4 %2.8 %
Operating margin %5.4 %6.7 %(1.3)%
Adjusted operating margin % (2)
5.5 %6.5 %(1.0)%
Pretax margin %4.5 %6.1 %(1.6)%
Adjusted pretax margin % (2)
4.6 %5.9 %(1.3)%
Floorplan expense:
Floorplan interest expense$64.1 $27.3 $36.8 134.9 %$0.1 134.5 %
Less: Floorplan assistance (3)
71.2 56.0 15.2 27.2 %— 27.2 %
Net floorplan expense$(7.1)$(28.7)$21.6 $0.1 
(1) Retail new vehicle units sold for 2023 include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
(3) Floorplan assistance is included within New vehicle retail Gross profit above and New vehicle retail Cost of sales in our Condensed Consolidated Statements of Operations.
NM - not meaningful
11


Group 1 Automotive, Inc.
Reported Operating Data — U.S.
(Unaudited)
(In millions, except unit data)
Three Months Ended December 31,
20232022Increase/(Decrease)% Change
Revenues:
New vehicle retail sales$1,989.3 $1,656.7 $332.6 20.1 %
Used vehicle retail sales1,065.2 1,083.9 (18.7)(1.7)%
Used vehicle wholesale sales72.2 61.1 11.1 18.1 %
Total used1,137.4 1,145.0 (7.6)(0.7)%
Parts and service sales473.9 453.6 20.3 4.5 %
F&I, net172.0 158.8 13.1 8.3 %
Total revenues$3,772.5 $3,414.2 $358.3 10.5 %
Gross profit:
New vehicle retail sales$156.4 $175.0 $(18.6)(10.6)%
Used vehicle retail sales53.3 47.3 5.9 12.5 %
Used vehicle wholesale sales(0.5)(1.2)0.8 62.0 %
Total used52.8 46.1 6.7 14.5 %
Parts and service sales259.0 245.9 13.1 5.3 %
F&I, net172.0 158.8 13.1 8.3 %
Total gross profit$640.2 $625.8 $14.3 2.3 %
Gross margin:
New vehicle retail sales7.9 %10.6 %(2.7)%
Used vehicle retail sales5.0 %4.4 %0.6 %
Used vehicle wholesale sales(0.6)%(2.0)%1.4 %
Total used4.6 %4.0 %0.6 %
Parts and service sales54.7 %54.2 %0.5 %
Total gross margin17.0 %18.3 %(1.4)%
Units sold:
Retail new vehicles sold38,152 32,064 6,088 19.0 %
Retail used vehicles sold35,195 34,997 198 0.6 %
Wholesale used vehicles sold8,160 6,563 1,597 24.3 %
Total used43,355 41,560 1,795 4.3 %
Average sales price per unit sold:
New vehicle retail$52,141 $51,670 $472 0.9 %
Used vehicle retail$30,266 $30,971 $(705)(2.3)%
Gross profit per unit sold:
New vehicle retail sales$4,099 $5,458 $(1,358)(24.9)%
Used vehicle retail sales$1,513 $1,353 $161 11.9 %
Used vehicle wholesale sales$(57)$(188)$130 69.5 %
Total used$1,218 $1,110 $108 9.7 %
F&I PRU$2,345 $2,369 $(24)(1.0)%
Other:
SG&A expenses$413.1 $383.8 $29.2 7.6 %
Adjusted SG&A expenses (1)
$408.7 $383.0 $25.7 6.7 %
SG&A as % gross profit64.5 %61.3 %3.2 %
Adjusted SG&A as % gross profit (1)
63.8 %61.2 %2.6 %
(1) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.

12


Group 1 Automotive, Inc.
Reported Operating Data — U.S.
(Unaudited)
(In millions, except unit data)
Years Ended December 31,
20232022Increase/(Decrease)% Change
Revenues:
New vehicle retail sales$7,433.6 $6,238.5 $1,195.0 19.2 %
Used vehicle retail sales4,458.7 4,531.5 (72.8)(1.6)%
Used vehicle wholesale sales314.4 238.8 75.6 31.7 %
Total used4,773.1 4,770.2 2.8 0.1 %
Parts and service sales1,933.3 1,761.4 171.9 9.8 %
F&I, net674.3 656.9 17.3 2.6 %
Total revenues$14,814.2 $13,427.1 $1,387.1 10.3 %
Gross profit: 
New vehicle retail sales$646.1 $713.5 $(67.4)(9.4)%
Used vehicle retail sales240.8 250.3 (9.5)(3.8)%
Used vehicle wholesale sales2.6 2.6 — (1.9)%
Total used243.3 252.9 (9.6)(3.8)%
Parts and service sales1,046.4 959.0 87.5 9.1 %
F&I, net674.3 656.9 17.3 2.6 %
Total gross profit$2,610.1 $2,582.3 $27.8 1.1 %
Gross margin:
New vehicle retail sales8.7 %11.4 %(2.7)%
Used vehicle retail sales5.4 %5.5 %(0.1)%
Used vehicle wholesale sales0.8 %1.1 %(0.3)%
Total used5.1 %5.3 %(0.2)%
Parts and service sales54.1 %54.4 %(0.3)%
Total gross margin17.6 %19.2 %(1.6)%
Units sold:
Retail new vehicles sold142,809 124,934 17,875 14.3 %
Retail used vehicles sold145,617 145,632 (15)— %
Wholesale used vehicles sold31,456 25,076 6,380 25.4 %
Total used177,073 170,708 6,365 3.7 %
Average sales price per unit sold:
New vehicle retail$52,052 $49,934 $2,118 4.2 %
Used vehicle retail$30,619 $31,116 $(497)(1.6)%
Gross profit per unit sold:
New vehicle retail sales$4,524 $5,711 $(1,187)(20.8)%
Used vehicle retail sales$1,653 $1,719 $(65)(3.8)%
Used vehicle wholesale sales$81 $104 $(23)(21.8)%
Total used$1,374 $1,481 $(107)(7.3)%
F&I PRU$2,338 $2,428 $(90)(3.7)%
Other:
SG&A expenses$1,622.9 $1,516.9 $106.0 7.0 %
Adjusted SG&A expenses (1)
$1,630.8 $1,551.3 $79.5 5.1 %
SG&A as % gross profit62.2 %58.7 %3.4 %
Adjusted SG&A as % gross profit (1)
62.5 %60.1 %2.4 %
(1) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.



13


Group 1 Automotive, Inc.
Reported Operating Data — U.K.
(Unaudited)
(In millions, except unit data)
Three Months Ended December 31,
20232022Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$321.9 $316.0 $5.8 1.8 %$17.7 (3.8)%
Used vehicle retail sales269.3 235.5 33.8 14.3 %15.2 7.9 %
Used vehicle wholesale sales30.1 24.6 5.5 22.5 %1.6 15.9 %
Total used299.4 260.1 39.3 15.1 %16.8 8.7 %
Parts and service sales71.1 64.8 6.3 9.7 %3.9 3.6 %
F&I, net15.2 13.8 1.3 9.7 %0.9 3.5 %
Total revenues$707.5 $654.8 $52.7 8.1 %$39.2 2.1 %
Gross profit:
New vehicle retail sales$28.1 $32.4 $(4.3)(13.4)%$1.4 (17.6)%
Used vehicle retail sales10.8 13.0 (2.2)(17.1)%0.6 (21.7)%
Used vehicle wholesale sales(3.8)(0.8)(3.0)NM(0.1)NM
Total used7.0 12.2 (5.2)(42.9)%0.5 (46.9)%
Parts and service sales40.3 35.2 5.1 14.4 %2.2 8.0 %
F&I, net15.2 13.8 1.3 9.7 %0.9 3.5 %
Total gross profit$90.5 $93.6 $(3.2)(3.4)%$4.8 (8.5)%
Gross margin:
New vehicle retail sales8.7 %10.2 %(1.5)%
Used vehicle retail sales4.0 %5.5 %(1.5)%
Used vehicle wholesale sales(12.7)%(3.4)%(9.3)%
Total used2.3 %4.7 %(2.4)%
Parts and service sales56.7 %54.3 %2.3 %
Total gross margin12.8 %14.3 %(1.5)%
Units sold:
Retail new vehicles sold (1)
7,675 7,858 (183)(2.3)%
Retail used vehicles sold9,461 8,563 898 10.5 %
Wholesale used vehicles sold2,996 2,440 556 22.8 %
Total used12,457 11,003 1,454 13.2 %
Average sales price per unit sold:
New vehicle retail (1)
$43,599 $40,220 $3,380 8.4 %$2,395 2.4 %
Used vehicle retail$28,461 $27,501 $960 3.5 %$1,603 (2.3)%
Gross profit per unit sold:
New vehicle retail sales$3,656 $4,122 $(466)(11.3)%$179 (15.6)%
Used vehicle retail sales$1,141 $1,521 $(380)(25.0)%$64 (29.2)%
Used vehicle wholesale sales$(1,281)$(343)$(937)NM$(37)NM
Total used$559 $1,108 $(549)(49.6)%$40 (53.1)%
F&I PRU$885 $841 $43 5.2 %$50 (0.8)%
Other:
SG&A expenses$74.3 $69.9 $4.4 6.3 %$3.9 0.7 %
Adjusted SG&A expenses (2)
$77.0 $69.9 $7.1 10.1 %$4.1 4.3 %
SG&A as % gross profit82.2 %74.7 %7.5 %
Adjusted SG&A as % gross profit (2)
85.1 %74.7 %10.4 %
(1) Retail new vehicle units sold for 2023 include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
NM — Not Meaningful

14


Group 1 Automotive, Inc.
Reported Operating Data — U.K.
(Unaudited)
(In millions, except unit data)
Years Ended December 31,
20232022Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$1,341.0 $1,214.0 $127.0 10.5 %$13.9 9.3 %
Used vehicle retail sales1,234.8 1,141.8 93.0 8.1 %3.7 7.8 %
Used vehicle wholesale sales127.1 125.8 1.3 1.0 %0.1 0.9 %
Total used1,361.9 1,267.6 94.3 7.4 %3.8 7.1 %
Parts and service sales289.0 248.2 40.8 16.4 %2.5 15.4 %
F&I, net67.6 65.2 2.4 3.7 %0.4 3.1 %
Total revenues$3,059.5 $2,795.1 $264.4 9.5 %$20.4 8.7 %
Gross profit: 
New vehicle retail sales$120.8 $112.0 $8.8 7.9 %$1.5 6.5 %
Used vehicle retail sales60.2 63.5 (3.3)(5.1)%0.1 (5.2)%
Used vehicle wholesale sales(6.3)(2.6)(3.7)(142.5)%— (141.2)%
Total used53.9 60.9 (7.0)(11.5)%— (11.5)%
Parts and service sales167.8 144.7 23.1 15.9 %1.3 15.1 %
F&I, net67.6 65.2 2.4 3.7 %0.4 3.1 %
Total gross profit$410.1 $382.9 $27.3 7.1 %$3.1 6.3 %
Gross margin:
New vehicle retail sales9.0 %9.2 %(0.2)%
Used vehicle retail sales4.9 %5.6 %(0.7)%
Used vehicle wholesale sales(5.0)%(2.1)%(2.9)%
Total used4.0 %4.8 %(0.8)%
Parts and service sales58.1 %58.3 %(0.2)%
Total gross margin13.4 %13.7 %(0.3)%
Units sold:
Retail new vehicles sold (1)
32,757 29,780 2,977 10.0 %
Retail used vehicles sold42,039 39,068 2,971 7.6 %
Wholesale used vehicles sold12,307 11,996 311 2.6 %
Total used54,346 51,064 3,282 6.4 %
Average sales price per unit sold:
New vehicle retail (1)
$42,488 $40,766 $1,722 4.2 %$439 3.1 %
Used vehicle retail$29,373 $29,227 $147 0.5 %$88 0.2 %
Gross profit per unit sold:
New vehicle retail sales$3,689 $3,762 $(73)(1.9)%$47 (3.2)%
Used vehicle retail sales$1,432 $1,624 $(193)(11.9)%$(11.9)%
Used vehicle wholesale sales$(514)$(217)$(297)(136.4)%$(3)(135.1)%
Total used$991 $1,192 $(201)(16.8)%$— (16.9)%
F&I PRU$904 $948 $(44)(4.6)%$(5.1)%
Other:
SG&A expenses$303.9 $266.5 $37.4 14.0 %$2.7 13.0 %
Adjusted SG&A expenses (2)
$307.5 $267.9 $39.7 14.8 %$2.5 13.9 %
SG&A as % gross profit74.1 %69.6 %4.5 %
Adjusted SG&A as % gross profit (2)
75.0 %70.0 %5.0 %
(1) Retail new vehicle units sold for 2023 include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.

15



Group 1 Automotive, Inc.
Same Store Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)
Three Months Ended December 31,
20232022Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$2,148.6 $1,924.2 $224.5 11.7 %$17.7 10.7 %
Used vehicle retail sales1,261.1 1,286.6 (25.5)(2.0)%15.2 (3.2)%
Used vehicle wholesale sales96.2 83.1 13.1 15.8 %1.6 13.9 %
Total used1,357.3 1,369.6 (12.3)(0.9)%16.8 (2.1)%
Parts and service sales525.5 500.8 24.7 4.9 %3.8 4.2 %
F&I, net175.6 168.6 7.0 4.1 %0.9 3.6 %
Total revenues$4,207.0 $3,963.1 $243.8 6.2 %$39.1 5.2 %
Gross profit: 
New vehicle retail sales$171.8 $202.6 $(30.9)(15.2)%$1.4 (15.9)%
Used vehicle retail sales60.1 59.2 0.9 1.6 %0.6 0.6 %
Used vehicle wholesale sales(4.5)(2.0)(2.5)(127.5)%(0.1)(121.9)%
Total used55.6 57.2 (1.6)(2.7)%0.5 (3.6)%
Parts and service sales287.0 271.9 15.1 5.6 %2.2 4.8 %
F&I, net175.6 168.6 7.0 4.1 %0.9 3.6 %
Total gross profit$690.0 $700.3 $(10.3)(1.5)%$4.8 (2.2)%
Gross margin:
New vehicle retail sales8.0 %10.5 %(2.5)%
Used vehicle retail sales4.8 %4.6 %0.2 %
Used vehicle wholesale sales(4.6)%(2.4)%(2.3)%
Total used4.1 %4.2 %(0.1)%
Parts and service sales54.6 %54.3 %0.3 %
Total gross margin16.4 %17.7 %(1.3)%
Units sold:
Retail new vehicles sold (1)
43,087 38,975 4,112 10.6 %
Retail used vehicles sold42,534 42,367 167 0.4 %
Wholesale used vehicles sold10,595 8,724 1,871 21.4 %
Total used53,129 51,091 2,038 4.0 %
Average sales price per unit sold:
New vehicle retail (1)
$50,211 $49,369 $842 1.7 %$755 0.2 %
Used vehicle retail$29,648 $30,367 $(718)(2.4)%$356 (3.5)%
Gross profit per unit sold:
New vehicle retail sales$3,986 $5,199 $(1,212)(23.3)%$32 (23.9)%
Used vehicle retail sales$1,413 $1,396 $17 1.2 %$14 0.2 %
Used vehicle wholesale sales$(421)$(225)$(196)(87.4)%$(10)(82.7)%
Total used$1,047 $1,119 $(72)(6.5)%$(7.3)%
F&I PRU$2,051 $2,073 $(22)(1.1)%$10 (1.6)%
Other:
SG&A expenses$465.0 $440.2 $24.9 5.6 %$4.0 4.7 %
Adjusted SG&A expenses (2)
$460.7 $439.3 $21.4 4.9 %$4.0 4.0 %
SG&A as % gross profit67.4 %62.9 %4.5 %
Adjusted SG&A as % gross profit (2)
66.8 %62.7 %4.0 %
Operating margin %4.2 %6.0 %(1.8)%
Adjusted operating margin % (2)
4.9 %6.0 %(1.1)%
(1) Retail new vehicle units sold for 2023 include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.


16


Group 1 Automotive, Inc.
Same Store Operating Data — Consolidated
(Unaudited)
(In millions, except unit data)
Years Ended December 31,
20232022Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$8,191.2 $7,277.5 $913.7 12.6 %$13.7 12.4 %
Used vehicle retail sales5,378.4 5,553.7 (175.3)(3.2)%3.7 (3.2)%
Used vehicle wholesale sales411.9 355.5 56.5 15.9 %0.1 15.9 %
Total used5,790.3 5,909.1 (118.8)(2.0)%3.8 (2.1)%
Parts and service sales2,128.9 1,952.6 176.3 9.0 %2.4 8.9 %
F&I, net700.4 705.4 (5.1)(0.7)%0.4 (0.8)%
Total revenues$16,810.8 $15,844.6 $966.2 6.1 %$20.1 6.0 %
Gross profit: 
New vehicle retail sales$714.3 $806.1 $(91.7)(11.4)%$1.5 (11.6)%
Used vehicle retail sales285.4 307.6 (22.2)(7.2)%0.1 (7.2)%
Used vehicle wholesale sales(3.7)0.2 (4.0)NM— NM
Total used281.7 307.8 (26.2)(8.5)%— (8.5)%
Parts and service sales1,159.8 1,072.4 87.4 8.1 %1.2 8.0 %
F&I, net700.4 705.4 (5.1)(0.7)%0.4 (0.8)%
Total gross profit$2,856.2 $2,891.7 $(35.5)(1.2)%$3.0 (1.3)%
Gross margin:
New vehicle retail sales8.7 %11.1 %(2.4)%
Used vehicle retail sales5.3 %5.5 %(0.2)%
Used vehicle wholesale sales(0.9)%0.1 %(1.0)%
Total used4.9 %5.2 %(0.3)%
Parts and service sales54.5 %54.9 %(0.4)%
Total gross margin17.0 %18.3 %(1.3)%
Units sold:
Retail new vehicles sold (1)
165,659 150,652 15,007 10.0 %
Retail used vehicles sold178,782 180,164 (1,382)(0.8)%
Wholesale used vehicles sold41,458 35,934 5,524 15.4 %
Total used220,240 216,098 4,142 1.9 %
Average sales price per unit sold:
New vehicle retail (1)
$49,810 $48,307 $1,503 3.1 %$446 2.2 %
Used vehicle retail$30,083 $30,826 $(742)(2.4)%$21 (2.5)%
Gross profit per unit sold:
New vehicle retail sales$4,312 $5,350 $(1,038)(19.4)%$(19.6)%
Used vehicle retail sales$1,596 $1,707 $(111)(6.5)%$— (6.5)%
Used vehicle wholesale sales$(89)$$(96)NM$(1)NM
Total used$1,279 $1,424 $(146)(10.2)%$— (10.2)%
F&I PRU$2,033 $2,132 $(99)(4.6)%$(4.7)%
Other:
SG&A expenses$1,845.4 $1,771.1 $74.3 4.2 %$2.5 4.1 %
Adjusted SG&A expenses (2)
$1,834.9 $1,768.2 $66.8 3.8 %$2.4 3.6 %
SG&A as % gross profit64.6 %61.2 %3.4 %
Adjusted SG&A as % gross profit (2)
64.2 %61.1 %3.1 %
Operating margin %5.3 %6.5 %(1.2)%
Adjusted operating margin % (2)
5.6 %6.6 %(1.0)%
(1) Retail new vehicle units sold for 2023 include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
(2) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.
NM - not meaningful

17


Group 1 Automotive, Inc.
Same Store Operating Data — U.S.
(Unaudited)
(In millions, except unit data)
Three Months Ended December 31,
20232022Increase/(Decrease)% Change
Revenues:
New vehicle retail sales$1,826.8 $1,608.1 $218.7 13.6 %
Used vehicle retail sales991.8 1,051.1 (59.3)(5.6)%
Used vehicle wholesale sales66.1 58.5 7.6 13.0 %
Total used1,057.9 1,109.5 (51.6)(4.7)%
Parts and service sales456.9 438.5 18.5 4.2 %
F&I, net160.4 154.8 5.6 3.6 %
Total revenues$3,502.0 $3,310.9 $191.1 5.8 %
Gross profit:
New vehicle retail sales$143.7 $170.2 $(26.5)(15.6)%
Used vehicle retail sales49.3 46.1 3.2 6.9 %
Used vehicle wholesale sales(0.6)(1.1)0.5 44.4 %
Total used48.7 45.0 3.7 8.2 %
Parts and service sales247.9 237.8 10.1 4.3 %
F&I, net160.4 154.8 5.6 3.6 %
Total gross profit$600.7 $607.8 $(7.1)(1.2)%
Gross margin:
New vehicle retail sales7.9 %10.6 %(2.7)%
Used vehicle retail sales5.0 %4.4 %0.6 %
Used vehicle wholesale sales(0.9)%(1.9)%1.0 %
Total used4.6 %4.1 %0.5 %
Parts and service sales54.3 %54.2 %— %
Total gross margin17.2 %18.4 %(1.2)%
Units sold:
Retail new vehicles sold35,412 31,117 4,295 13.8 %
Retail used vehicles sold33,073 33,804 (731)(2.2)%
Wholesale used vehicles sold7,599 6,284 1,315 20.9 %
Total used40,672 40,088 584 1.5 %
Average sales price per unit sold:
New vehicle retail$51,586 $51,679 $(93)(0.2)%
Used vehicle retail$29,988 $31,093 $(1,105)(3.6)%
Gross profit per unit sold:
New vehicle retail sales$4,058 $5,470 $(1,412)(25.8)%
Used vehicle retail sales$1,491 $1,365 $126 9.2 %
Used vehicle wholesale sales$(82)$(179)$96 54.0 %
Total used$1,197 $1,123 $74 6.6 %
F&I PRU$2,342 $2,384 $(42)(1.8)%
Other:
SG&A expenses$389.4 $371.4 $18.0 4.8 %
Adjusted SG&A expenses (1)
$385.1 $370.6 $14.5 3.9 %
SG&A as % gross profit64.8 %61.1 %3.7 %
Adjusted SG&A as % gross profit (1)
64.1 %61.0 %3.1 %
(1) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.



18


Group 1 Automotive, Inc.
Same Store Operating Data — U.S.
(Unaudited)
(In millions, except unit data)
Years Ended December 31,
20232022Increase/(Decrease)% Change
Revenues:
New vehicle retail sales$6,869.4 $6,065.6 $803.8 13.3 %
Used vehicle retail sales4,167.2 4,416.8 (249.5)(5.6)%
Used vehicle wholesale sales287.0 230.1 56.8 24.7 %
Total used4,454.2 4,646.9 (192.7)(4.1)%
Parts and service sales1,858.5 1,715.4 143.1 8.3 %
F&I, net633.8 640.5 (6.7)(1.0)%
Total revenues$13,815.9 $13,068.4 $747.5 5.7 %
Gross profit:
New vehicle retail sales$595.5 $694.2 $(98.7)(14.2)%
Used vehicle retail sales227.0 244.5 (17.5)(7.1)%
Used vehicle wholesale sales2.7 2.8 (0.2)(5.6)%
Total used229.7 247.3 (17.6)(7.1)%
Parts and service sales1,000.4 932.9 67.5 7.2 %
F&I, net633.8 640.5 (6.7)(1.0)%
Total gross profit$2,459.4 $2,514.9 $(55.5)(2.2)%
Gross margin:
New vehicle retail sales8.7 %11.4 %(2.8)%
Used vehicle retail sales5.4 %5.5 %(0.1)%
Used vehicle wholesale sales0.9 %1.2 %(0.3)%
Total used5.2 %5.3 %(0.2)%
Parts and service sales53.8 %54.4 %(0.6)%
Total gross margin17.8 %19.2 %(1.4)%
Units sold:
Retail new vehicles sold133,330 120,958 12,372 10.2 %
Retail used vehicles sold137,605 141,355 (3,750)(2.7)%
Wholesale used vehicles sold29,312 24,023 5,289 22.0 %
Total used166,917 165,378 1,539 0.9 %
Average sales price per unit sold:
New vehicle retail$51,522 $50,146 $1,375 2.7 %
Used vehicle retail$30,284 $31,246 $(962)(3.1)%
Gross profit per unit sold:
New vehicle retail sales$4,466 $5,739 $(1,273)(22.2)%
Used vehicle retail sales$1,650 $1,729 $(80)(4.6)%
Used vehicle wholesale sales$91 $118 $(27)(22.6)%
Total used$1,376 $1,495 $(119)(8.0)%
F&I PRU$2,339 $2,442 $(102)(4.2)%
Other:
SG&A expenses$1,548.8 $1,507.6 $41.2 2.7 %
Adjusted SG&A expenses (1)
$1,538.3 $1,505.9 $32.5 2.2 %
SG&A as % gross profit 63.0 %59.9 %3.0 %
Adjusted SG&A as % gross profit (1)
62.6 %59.9 %2.7 %
(1) See the section in this release titled “Reconciliation of Certain Non-GAAP Financial Measures” for the GAAP to non-GAAP reconciliation of these figures.



19


Group 1 Automotive, Inc.
Same Store Operating Data — U.K.
(Unaudited)
(In millions, except unit data)
Three Months Ended December 31,
20232022Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$321.9 $316.0 $5.8 1.8 %$17.7 (3.8)%
Used vehicle retail sales269.3 235.5 33.8 14.3 %15.2 7.9 %
Used vehicle wholesale sales30.1 24.6 5.5 22.5 %1.6 15.9 %
Total used299.4 260.1 39.3 15.1 %16.8 8.7 %
Parts and service sales68.6 62.3 6.3 10.0 %3.8 4.0 %
F&I, net15.2 13.8 1.3 9.6 %0.9 3.4 %
Total revenues$705.0 $652.3 $52.7 8.1 %$39.1 2.1 %
Gross profit:
New vehicle retail sales$28.1 $32.4 $(4.3)(13.4)%$1.4 (17.6)%
Used vehicle retail sales10.8 13.0 (2.2)(17.1)%0.6 (21.8)%
Used vehicle wholesale sales(3.8)(0.8)(3.0)NM(0.1)NM
Total used7.0 12.2 (5.2)(42.9)%0.5 (47.0)%
Parts and service sales39.1 34.1 5.0 14.6 %2.2 8.2 %
F&I, net15.2 13.8 1.3 9.6 %0.9 3.4 %
Total gross profit$89.3 $92.5 $(3.2)(3.5)%$4.8 (8.7)%
Gross margin:
New vehicle retail sales8.7 %10.2 %(1.5)%
Used vehicle retail sales4.0 %5.5 %(1.5)%
Used vehicle wholesale sales(12.7)%(3.4)%(9.3)%
Total used2.3 %4.7 %(2.4)%
Parts and service sales57.1 %54.8 %2.3 %
Total gross margin12.7 %14.2 %(1.5)%
Units sold:
Retail new vehicles sold (1)
7,675 7,858 (183)(2.3)%
Retail used vehicles sold9,461 8,563 898 10.5 %
Wholesale used vehicles sold2,996 2,440 556 22.8 %
Total used12,457 11,003 1,454 13.2 %
Average sales price per unit sold:
New vehicle retail (1)
$43,599 $40,220 $3,379 8.4 %$2,395 2.4 %
Used vehicle retail$28,461 $27,501 $960 3.5 %$1,603 (2.3)%
Gross profit per unit sold:
New vehicle retail sales$3,656 $4,122 $(466)(11.3)%$179 (15.6)%
Used vehicle retail sales$1,141 $1,521 $(380)(25.0)%$64 (29.2)%
Used vehicle wholesale sales$(1,281)$(343)$(937)NM$(37)NM
Total used$558 $1,108 $(549)(49.6)%$39 (53.2)%
F&I PRU$884 $842 $43 5.1 %$50 (0.9)%
Other:
SG&A expenses$75.6 $68.7 $6.9 10.0 %$4.0 4.2 %
SG&A as % gross profit84.7 %74.3 %10.4 %
(1) Retail new vehicle units sold for 2023 include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.
NM — Not Meaningful



20


Group 1 Automotive, Inc.
Same Store Operating Data — U.K.
(Unaudited)
(In millions, except unit data)
Years Ended December 31,
20232022Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % Change
Revenues:
New vehicle retail sales$1,321.9 $1,211.9 $109.9 9.1 %$13.7 7.9 %
Used vehicle retail sales1,211.2 1,136.9 74.3 6.5 %3.7 6.2 %
Used vehicle wholesale sales125.0 125.3 (0.4)(0.3)%0.1 (0.3)%
Total used1,336.1 1,262.2 73.9 5.9 %3.8 5.6 %
Parts and service sales270.4 237.2 33.2 14.0 %2.4 13.0 %
F&I, net66.5 64.9 1.6 2.5 %0.4 1.9 %
Total revenues$2,995.0 $2,776.3 $218.7 7.9 %$20.1 7.2 %
Gross profit:
New vehicle retail sales$118.9 $111.9 $7.0 6.2 %$1.5 4.9 %
Used vehicle retail sales58.4 63.1 (4.7)(7.5)%0.1 (7.6)%
Used vehicle wholesale sales(6.4)(2.6)(3.8)(147.2)%— (145.7)%
Total used52.0 60.5 (8.5)(14.1)%— (14.1)%
Parts and service sales159.4 139.5 19.9 14.3 %1.2 13.4 %
F&I, net66.5 64.9 1.6 2.5 %0.4 1.9 %
Total gross profit$396.8 $376.8 $20.0 5.3 %$3.0 4.5 %
Gross margin:
New vehicle retail sales9.0 %9.2 %(0.2)%
Used vehicle retail sales4.8 %5.6 %(0.7)%
Used vehicle wholesale sales(5.1)%(2.1)%(3.0)%
Total used3.9 %4.8 %(0.9)%
Parts and service sales59.0 %58.8 %0.1 %
Total gross margin13.2 %13.6 %(0.3)%
Units sold:
Retail new vehicles sold (1)
32,329 29,694 2,635 8.9 %
Retail used vehicles sold41,177 38,809 2,368 6.1 %
Wholesale used vehicles sold12,146 11,911 235 2.0 %
Total used53,323 50,720 2,603 5.1 %
Average sales price per unit sold:
New vehicle retail (1)
$42,458 $40,814 $1,644 4.0 %$440 3.0 %
Used vehicle retail$29,413 $29,294 $119 0.4 %$90 0.1 %
Gross profit per unit sold:
New vehicle retail sales$3,676 $3,767 $(91)(2.4)%$47 (3.6)%
Used vehicle retail sales$1,418 $1,626 $(209)(12.8)%$(12.9)%
Used vehicle wholesale sales$(525)$(216)$(308)(142.4)%$(3)(140.9)%
Total used$975 $1,194 $(218)(18.3)%$— (18.3)%
F&I PRU$905 $948 $(42)(4.5)%$(5.0)%
Other:
SG&A expenses$296.6 $263.6 $33.0 12.5 %$2.5 11.6 %
SG&A as % gross profit 74.7 %69.9 %4.8 %
(1) Retail new vehicle units sold for 2023 include new vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles due to their net presentation within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold.




21



Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — Consolidated
(Unaudited)
 (In millions, except per share data)
Three Months Ended December 31, 2023
U.S. GAAPCatastrophic eventsDealership and real estate transactionsAcquisition costsLegal items and other professional fees Asset impairments and accelerated depreciationNon-GAAP adjusted
SG&A expenses$487.4 $(2.0)$2.6 $(0.6)$(1.7)$— $485.7 
Depreciation and amortization expense23.4 — — — — (0.3)23.1 
Asset impairments25.1 — — — — (25.1)— 
Income (loss) from operations
194.7 2.0 (2.6)0.6 1.7 25.4 221.9 
Income (loss) before income taxes$145.4 $2.0 $(2.6)$0.6 $1.7 $25.4 $172.6 
Less: Provision (benefit) for income taxes36.6 0.5 (2.6)0.2 0.4 6.3 41.4 
Net income from continuing operations
108.8 1.5 — 0.5 1.3 19.1 131.2 
Less: Earnings allocated to participating securities
2.6 — — — — 0.5 3.1 
Net income from continuing operations available to diluted common shares
$106.2 $1.4 $— $0.5 $1.3 $18.7 $128.1 
Diluted earnings per common share from continuing operations
$7.87 $0.11 $— $0.03 $0.09 $1.39 $9.50 
Effective tax rate 25.2 %24.0 %
SG&A as % gross profit (1)
66.7 %66.5 %
Operating margin (2)
4.3 %5.0 %
Pretax margin (3)
3.2 %3.9 %
Same Store SG&A expenses$465.0 $(2.0)$— $(0.6)$(1.7)$— $460.7 
Same Store SG&A as % gross profit (1)
67.4 %66.8 %
Same Store income from operations$177.4 $2.0 $— $0.6 $1.7 $25.4 $207.1 
Same Store operating margin (2)
4.2 %4.9 %

U.S. GAAPNon-GAAP adjustmentsNon-GAAP adjusted
Net loss from discontinued operations$— $— $— 
Less: Loss allocated to participating securities— — — 
Net loss from discontinued operations available to diluted common shares$— $— $— 
Net income$108.8 $22.4 $131.2 
Less: Earnings allocated to participating securities2.6 0.5 3.1 
Net income available to diluted common shares$106.2 $21.9 $128.1 
Diluted loss per common share from discontinued operations$— $— $— 
Diluted earnings per common share from continuing operations7.87 1.62 9.50 
Diluted earnings per common share$7.87 $1.62 $9.49 
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
(2) Adjusted operating margin excludes the impact of SG&A reconciling items, accelerated depreciation expense and asset impairment charges.
(3) Adjusted pretax margin excludes the impact of SG&A reconciling items, accelerated depreciation expense and asset impairment charges.
22


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — Consolidated
(Unaudited)
 (In millions, except per share data)
Three Months Ended December 31, 2022
U.S. GAAPAcquisition CostsAsset impairmentsNon-GAAP adjusted
SG&A expenses$453.8 $(0.9)$— $452.9 
Asset impairments $1.3 $— $(1.3)$— 
Income from operations
$241.9 $0.9 $1.3 $244.1 
Income before income taxes
$205.7 $0.9 $1.3 $207.9 
Less: Provision for income taxes
48.9 0.2 0.3 49.4 
Net income from continuing operations
156.7 0.7 1.0 158.4 
Less: Earnings allocated to participating securities
4.6 — — 4.6 
Net income from continuing operations available to diluted common shares
$152.2 $0.6 $1.0 $153.8 
Diluted earnings per common share from continuing operations
$10.75 $0.05 $0.07 $10.86 
Effective tax rate 23.8 %23.8 %
SG&A as % gross profit (1)
63.1 %62.9 %
Operating margin (2)
5.9 %6.0 %
Pretax margin (3)
5.1 %5.1 %
Same Store SG&A expenses$440.2 $(0.9)$— $439.3 
Same Store SG&A as % gross profit (1)
62.9 %62.7 %
Same Store income from operations$238.2 $0.9 $0.6 $239.6 
Same Store operating margin (2)
6.0 %6.0 %
U.S. GAAPNon-GAAP adjustmentsNon-GAAP adjusted
Net income from discontinued operations$0.2 $— $0.2 
Less: Earnings allocated to participating securities— — — 
Net income from discontinued operations available to diluted common shares$0.2 $— $0.2 
Net income$157.0 $1.7 $158.6 
Less: Earnings allocated to participating securities4.6 — 4.6 
Net income available to diluted common shares$152.4 $1.6 $154.0 
Diluted earnings per common share from discontinued operations$0.01 $— $0.01 
Diluted earnings per common share from continuing operations10.75 0.11 10.86 
Diluted earnings per common share$10.76 $0.11 $10.88 
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
(2) Adjusted operating margin excludes the impact of SG&A reconciling items above.
(3) Adjusted pretax margin excludes the impact of SG&A reconciling items above.
23


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — Consolidated
(Unaudited)
 (In millions, except per share data)
Year Ended December 31, 2023
U.S. GAAPNon-cash gain on interest rate swapsCatastrophic eventsDealership and real estate transactionsAcquisition costsLegal items and other professional feesAsset impairments and accelerated depreciationNon-GAAP adjusted
SG&A expenses$1,926.8$— $(3.4)$22.0 $(0.9)$(6.1)$— $1,938.4
Depreciation and amortization expense92.0— — — — — (1.2)90.8
Asset impairments32.9— — — — — (32.9)
Income (loss) from operations968.6— 3.4 (22.0)0.9 6.1 34.0 991.1
Other interest expense, net99.84.0 — — — — — 103.8
Income (loss) before income taxes$800.2$(4.0)$3.4 $(21.9)$0.9 $6.1 $34.0 $818.7
Less: Provision (benefit) for income taxes198.2(0.9)0.8 (12.8)0.2 1.5 8.4 195.4
Net income (loss) from continuing operations602.0(3.1)2.6 (9.1)0.7 4.6 25.6 623.3
Less: Earnings (loss) allocated to participating securities14.8(0.1)0.1 (0.2)— 0.1 0.6 15.3
Net income (loss) from continuing operations available to diluted common shares$587.2$(3.0)$2.5 $(8.9)$0.7 $4.5 $25.0 $608.0
Diluted earnings (loss) per common share from continuing operations$42.75$(0.22)$0.18 $(0.65)$0.05 $0.33 $1.82 $44.27
Effective tax rate 24.8 23.9 %
SG&A as % gross profit (1)
63.8 64.2 
Operating margin (2)
5.4 5.5 
Pretax margin (3)
4.5 4.6 
Same Store SG&A expenses$1,845.4$— $(3.4)$— $(0.9)$(6.1)$— $1,834.9 
Same Store SG&A as % gross profit (1)
64.6 64.2 
Same Store income from operations$890.4$— $3.4 $— $0.9 $6.1 $33.8 $934.6 
Same Store operating margin (2)
5.3 5.6 
U.S. GAAPNon-GAAP adjustmentsNon-GAAP adjusted
Net loss from discontinued operations$(0.4)$— $(0.4)
Less: Loss allocated to participating securities— — — 
Net loss from discontinued operations available to diluted common shares
$(0.4)$— $(0.4)
Net income$601.6 $21.3 $622.9 
Less: Earnings allocated to participating securities
14.8 0.5 15.3 
Net income available to diluted common shares$586.9 $20.8 $607.6 
Diluted loss per common share from discontinued operations$(0.03)$— $(0.03)
Diluted earnings per common share from continuing operations42.75 1.51 44.27 
Diluted earnings per common share$42.73 $1.51 $44.24 
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
(2) Adjusted operating margin excludes the impact of SG&A reconciling items, accelerated depreciation expense and asset impairment charges.
(3) Adjusted pretax margin excludes the impact of SG&A reconciling items, accelerated depreciation expense, asset impairment charges and a non-cash gain on interest rate swaps.
24


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — Consolidated
(Unaudited)
 (In millions, except per share data)
Year Ended December 31, 2022
U.S. GAAPDealership and real estate transactionsAcquisition costsLegal matters Asset impairmentsNon-GAAP adjusted
SG&A expenses$1,783.3 $38.8 $(2.2)$(0.8)$— $1,819.2 
Asset impairments2.1 — — — (2.1)— 
Income (loss) from operations1,091.4 (38.8)2.2 0.8 2.1 1,057.6 
Income (loss) before income taxes$985.3 $(38.8)$2.2 $0.8 $2.1 $951.6 
Less: Provision (benefit) for income taxes231.1 (9.1)0.2 0.2 0.5 222.9 
Net income (loss) from continuing operations754.2 (29.7)1.9 0.6 1.6 728.7 
Less: Earnings (loss) allocated to participating securities21.3 (0.8)0.1 — — 20.6 
Net income (loss) from continuing operations available to diluted common shares$733.0 $(28.9)$1.9 $0.6 $1.6 $708.2 
Diluted earnings (loss) per common share from continuing operations$47.31 $(1.86)$0.12 $0.04 $0.10 $45.71 
Effective tax rate 23.5 %23.4 %
SG&A as % gross profit (1)
60.1 %61.4 %
Operating margin (2)
6.7 %6.5 %
Pretax margin (3)
6.1 %5.9 %
Same Store SG&A expenses$1,771.1 $— $(2.2)$(0.8)$— $1,768.2 
Same Store SG&A as % gross profit (1)
61.2 %61.1 %
Same Store income from operations$1,034.6 $— $2.2 $0.8 $1.4 $1,038.9 
Same Store operating margin (2)
6.5 %6.6 %
U.S. GAAPNon-GAAP adjustmentsNon-GAAP adjusted
Net (loss) income from discontinued operations$(2.7)$5.0 $2.3 
Less: (Loss) earnings allocated to participating securities(0.1)0.1 0.1 
Net (loss) income from discontinued operations available to diluted common shares$(2.6)$4.9 $2.2 
Net income (loss)$751.5 $(20.5)$731.0 
Less: Earnings (loss) allocated to participating securities21.2(0.6)20.6
Net income (loss) available to diluted common shares$730.3 $(20.0)$710.4 
Diluted (loss) earnings per common share from discontinued operations$(0.17)$0.31 $0.14 
Diluted earnings (loss) per common share from continuing operations47.31 (1.60)45.71 
Diluted earnings (loss) per common share$47.14 $(1.29)$45.85 
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
(2) Adjusted operating margin excludes the impact of SG&A reconciling items and asset impairment charges.
(3) Adjusted pretax margin excludes the impact of SG&A reconciling items and asset impairment charges.
25


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — U.S.
(Unaudited)
(In millions)
Three Months Ended December 31, 2023
U.S. GAAPCatastrophic eventsDealership and real estate transactionsAcquisition costsLegal items and other professional feesNon-GAAP adjusted
SG&A expenses$413.1 $(2.0)$(0.1)$(0.6)$(1.7)$408.7 
SG&A as % gross profit (1)
64.5 %63.8 %
Same Store SG&A expenses$389.4 $(2.0)$— $(0.6)$(1.7)$385.1 
Same Store SG&A as % gross profit (1)
64.8 %64.1 %
Three Months Ended December 31, 2022
U.S. GAAPAcquisition costsNon-GAAP adjusted
SG&A expenses$383.8 $(0.9)$383.0 
SG&A as % gross profit (1)
61.3 %61.2 %
Same Store SG&A expenses$371.4 $(0.9)$370.6 
Same Store SG&A as % gross profit (1)
61.1 %61.0 %
Year Ended December 31, 2023
U.S. GAAPCatastrophic eventsDealership and real estate transactionsAcquisition costsLegal items and other professional feesNon-GAAP adjusted
SG&A expenses$1,622.9 $(3.4)$18.3 $(0.9)$(6.1)$1,630.8 
SG&A as % gross profit (1)
62.2 %62.5 %
Same Store SG&A expenses$1,548.8 $(3.4)$— $(0.9)$(6.1)$1,538.3 
Same Store SG&A as % gross profit (1)
63.0 %62.6 %
Year Ended December 31, 2022
U.S. GAAPDealership and real estate transactionsAcquisition costsLegal mattersNon-GAAP adjusted
SG&A expenses$1,516.9 $36.1 $(0.9)$(0.8)$1,551.3 
SG&A as % gross profit (1)
58.7 %60.1 %
Same Store SG&A expenses$1,507.6 $— $(0.9)$(0.8)$1,505.9 
Same Store SG&A as % gross profit (1)
59.9 %59.9 %
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
26


Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures — U.K.
(Unaudited)
 (In millions)
Three Months Ended December 31, 2023
U.S. GAAPDealership and real estate transactionsNon-GAAP Adjusted
SG&A expenses$74.3 $2.7 $77.0 
SG&A as % gross profit (1)
82.2 %85.1 %
Year Ended December 31, 2023
U.S. GAAPDealership and real estate transactionsNon-GAAP Adjusted
SG&A expenses$303.9 $3.6 $307.5 
SG&A as % gross profit (1)
74.1 %75.0 %
Year Ended December 31, 2022
U.S. GAAPDealership and real estate transactionsAcquisition costsNon-GAAP Adjusted
SG&A expenses$266.5 $2.7 $(1.3)$267.9 
SG&A as % gross profit (1)
69.6 %70.0 %
Same Store SG&A expenses$263.6 $— $(1.3)$262.3 
Same Store SG&A as % gross profit (1)
69.9 %69.6 %
(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconciling items above.
27