Stock Monitor: Carvana Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 16, 2018 / Active-Investors.com has just released a free earnings report on Group 1 Automotive, Inc. (NYSE: GPI) ("Group 1"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=GPI. The Company posted its financial results on February 08, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's quarterly total revenues and adjusted diluted EPS grew 9.2% and 21.3% y-o-y, respectively; beating market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Group 1 Automotive most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For Q4 FY17, Group 1 reported total revenues of $2.92 billion, which came in above the $2.67 billion recorded in Q4 FY16. The Company's total revenue numbers for the reported quarter topped market expectations of $2.82 billion.
The auto dealership chain posted a net income of $110.49 million, or $5.27 per diluted share, in Q4 FY17 compared to $30.83 million, or $1.44 per diluted share, in Q4 FY16. The Company's adjusted net income stood at $42.80 million, or $2.11 per diluted share, in the reported quarter, rising from $35.78 million, or $1.74 per diluted share, in Q4 FY16. Moreover, Wall Street had expected the Company to report adjusted diluted earnings per share (EPS) of $1.87.
For the full year FY17, the Houston, Texas-based Company's revenues were $11.12 billion, which came in 2.2% higher than the $10.89 billion reported in FY16. The Company reported a net income of $213.44 million, or $10.08 per diluted share, in FY17 compared to $147.07 million, or $6.67 per diluted share, in FY16. Additionally, the Company's adjusted net income stood at $157.79 million, or $7.73 per diluted share, in FY17 compared to $157.15 million, or $7.42 per diluted share, in FY16.
Operating Metrics
During Q4 FY17, Group 1's total gross profit stood at $425.68 million, or 14.6% of total revenues, compared to $389.18 million, or 14.6% of total revenues, in the previous year's same period. The Company's selling, general, and administrative expenses (SG&A) were $309.52 million in the reported quarter compared to $279.07 million in Q4 FY16. The Company's operating income came in at $91.00 million in Q4 FY17 versus $76.92 million in Q4 FY16.
Segment Performance
Group 1's US segment's revenues grew 5.4% to $2.29 billion in Q4 FY17 from $2.17 billion in Q4 FY16. The segment's gross profit increased to $350.68 million in Q4 FY17 from $331.32 million in Q4 FY16.
In Q4 FY17, Group 1's UK segment's revenues rose 31.1% to $507.85 million from $387.49 million in Q4 FY16. Meanwhile, the segment's gross profit was $60.43 million in Q4 FY17, rising 36.0% from $44.42 million in the last year's comparable quarter.
Group 1's Brazil segment's revenues grew 8.8% to $125.36 million in Q4 FY17 from $115.21 million in the year ago corresponding quarter. Moreover, the segment's gross profit increased to $14.57 million in Q4 FY17 from $13.45 million in Q4 FY16.
Vehicle Sales Division
Group 1's new vehicle revenues increased to $1.31 billion during Q4 FY17 from $1.21 billion in Q4 FY16. The segment's gross profit also increased to $69.46 million in Q4 FY17 from $65.10 million in the year ago same quarter. Furthermore, the Company's total new vehicle sales were 33,608 units, at an average selling price of $38,996, in Q4 FY17 versus 31,779 vehicles, at an average selling price of $38,010, in Q4 FY16.
In the reported period, Group 1's total used vehicle revenues fell to $590.81 million from $603.87 million in Q4 FY16. The segment reported a gross profit of $29.67 million in Q4 FY17 versus $30.08 million in the year ago comparable quarter. Additionally, the Company's total used vehicle sales were 24,735 units, at an average selling price of $21,853, in Q4 FY17 compared to 24,866 units, at an average selling price of $21,431, in Q4 FY16.
During Q4 FY17, Group 1's parts and service revenues grew 7.7% to $286.61 million from $266.03 million in Q4 FY16. The segment's gross profit stood at $152.35 million for the reported quarter, which came in above the $143.02 million recorded in the year ago corresponding quarter.
The Company's net finance and insurance revenues were $99.20 million in Q4 FY17 compared to $93.11 million in Q4 FY16.
Cash Flow and Balance Sheet
During the fiscal year ended December 31, 2017, Group 1 generated cash from operations of $198.93 million compared to $384.86 million in the year ago same period. Additionally, the Company's adjusted cash provided by operating activities amounted to $284.67 million in FY17 versus $271.74 million in FY16.
The Company had a cash and cash equivalents balance of $28.79 million as on December 31, 2017, compared to $20.99 million at the close of books as on December 31, 2016. Furthermore, the Company had a long-term debt amounting to $1.32 billion as on December 31, 2017, versus $1.21 billion as on December 31, 2016.
Dividend and Share Repurchase
In a separate press release on February 15, 2018, Group 1's Board of Directors declared a cash dividend of $0.26 per share for Q4 FY17. The dividend was paid on March 15, 2018, to stockholders of record as of March 01, 2018.
In the full fiscal year 2017, the Company repurchased 649,298 shares at an average price per common share of $61.75 for a total of $40.1 million. Furthermore, as of February 08, 2018, the Company had $49.6 million remaining under its prior common stock share repurchase authorization.
Stock Performance Snapshot
March 15, 2018 - At Thursday's closing bell, Group 1 Automotive's stock fell 2.54%, ending the trading session at $72.17.
Volume traded for the day: 120.04 thousand shares.
Stock performance in the previous six-month period - up 8.48%; and year-to-date - up 1.69%
After yesterday's close, Group 1 Automotive's market cap was at $1.48 billion.
Price to Earnings (P/E) ratio was at 11.03.
The stock has a dividend yield of 1.44%.
The stock is part of the Services sector, categorized under the Auto Dealerships industry. This sector was up 0.1% at the end of the session.
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