International Fortune 500 automotive e-commerce platform. Group 1 Automotive, Inc. has announced that its board of directors has increased the company's common stock share repurchase authorization by $100 million to make it a total of $125.7 million. As of right now, the company has repurchased 222,098 shares at the average price of $66.26 per common share the second quarter of 2018. The total tallying up to $14.7 million. Purchases 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. The company expects that any repurchase
Group 1 Automotive, Inc., an international, Fortune 500 automotive retailer, reported 2018 first-quarter net income of $35.8 million and diluted earnings per common share of $1.70. There were no non-GAAP adjustments for the first quarter of 2018. In comparison, Group 1 generated $33.9 million of net income, $32.8 million of adjusted net income (a non-GAAP measure), $1.58 of diluted earnings per common share and $1.53 of adjusted diluted earnings per common share (a non-GAAP measure) for the first quarter of 2017. First quarter 2017 adjusted net income and diluted earnings per share exclude a non-core benefit of approximately $1.1 million after-tax, or $0.05 per share, related to a settlement with an Original Equipment Manufacturer (OEM).
International Fortune 500 automotive retailer, Group 1 Automotive has announced the procurement of a new Toyota market area located in western São Paulo, Brazil. The company will also be expanding an existing Honda dealership located in the suburb of São Bernardo do Campo. The acquisition of the new Toyota sales territory was triggered by the purchase of selected assets of Toyota Alpha Trevo Automoveis Ltda, an existing Toyota dealership in the western São Paulo suburb of Alphaville. Under Group 1, the business will operate as T-Drive Toyota Alphaville and is expected to generate $45M in annualized revenues. In conjunction with this
Darren Guiver International Fortune 500 automotive retailer, Group 1 Automotive has announed that Darren Guiver has been appointed the managing director of its UK operations. Guiver has worked for Group 1 in the UK since February 2016 following the sale of his dealer group, Spire Automotive, to the Company. In his new role, Guiver will report directly to Earl Hesterberg, Group 1's president and chief executive officer. "Darren is a highly experienced retail operator with a proven track record of success. My top management team and I have complete confidence that Darren is the right person for this role. He
Houston-based Group 1 Automotive, Inc., an international, Fortune 500 automotive retailer, announced the acquisition of Beadles Group Ltd, a large UK-based automotive retailer, which consists of seven brands across 12 dealerships in the southeastern portion of the greater London metropolitan market. The seven brands include Jaguar, Land Rover, Volkswagen, Skoda, Toyota, Vauxhall, and Kia, with locations in the towns of Bromley, Coulsdon, Dartford, Maidstone, Medway, Sevenoaks, Sidcup, and Southend. The dealerships, which will continue to operate under the Beadles name, are expected to generate approximately $330 million in annualized revenues. This acquisition increases the company's UK operations to 43 dealerships, which includes existing Audi, BMW/MINI, Ford, Jaguar, SEAT, and Volkswagen Commercial Vehicles
Group 1 Automotive, Inc. an international Fortune 500 automotive retailer, which owns and operates 159 automotive dealerships, 210 franchises, and 45 collision centers in the United States, the United Kingdom and Brazil,released its first quarter financials for 2017. The Company's net income is worth $33.9 million, diluted earnings per common share of $1.58, adjusted net income (a non-GAAP measure) of $32.8 million, and adjusted diluted earnings per common share (a non-GAAP measure) of $1.53. First quarter 2017 adjusted net income and diluted earnings per share exclude a non-core benefit of approximately $1.1 million after-tax, or $0.05 per share, related to a settlement with an Original Equipment Manufacturer (OEM). Reconciliations of non-GAAP financial measures are included in