Group 1 Has Good Quarter Despite WLTP Pressure
Group 1's third quarter gave us no reason to change our fair value estimate. The company did a good job despite a difficult comparable to third-quarter 2017 following a sales spike after Hurricane Harvey in Houston as well as a weak U.K. market in third-quarter 2018. Europe suffered from German brand supply shortages, particularly Audi, unable to fully stock dealerships due to not complying with new emission standards called Worldwide Harmonised Light Vehicle Test Procedure, WLTP. The U.K. made ...Group 1 Automotive is an operator in the automotive retail industry. Through its dealerships, the company sells new and used cars and light trucks, arranges related vehicle financing, sells service and insurance contracts, provides automotive maintenance and repair services, and sells vehicle parts. The company sells retail used vehicles directly to its customers at its dealerships or via its internet sites and wholesale used vehicles at auctions. The company sells replacement parts and provides both warranty and non-warranty maintenance and repair services, as well as provides collision repair services at the collision centers that the company operates. The company also sells parts to wholesale customers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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