Group 1's 1Q Solid; Upside May Be Coming From Texas Energy Markets
We are not changing our fair value estimate on auto dealer Group 1 as the firm’s first-quarter results give us no reason to change our thesis. The company persevered through a soft January and February in all three of its markets (U.S., U.K., and Brazil) to still beat consensus with diluted EPS of $1.70 versus $1.55 consensus. March was dramatically better, and the U.K. shook its Brexit fears to still post 5% same-store used-vehicle unit growth. The U.K. segment’s new-vehicle volume fell 10% on ...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.
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