Group 1 Q4 earnings: Acquisitions propel robust quarter

Group 1 said it continued its share buyback program during the quarter and has repurchased more than 3 million shares in total in 2022.

For the full year, Group 1 reports strong revenue growth and flat net income

Group 1 stocks On Wednesday, it closed 2.1% higher at $197.08.

• Fourth quarter net income of $157 million, up 80% year over year

• Fourth quarter revenues: $4.07 billion, up 17%

• Fourth quarter net income from continuing operations: $156.7 million, down 4%

• Q4 new car sales: 39,992 units, up 12%.Existing store base: 34,971 units, +2.5%

• 2022 net income: $751.5 million, up 36% compared to 2021

• 2022 revenue: $16.22 billion, up 20%

• 2022 net income from continuing operations: $754.2 million, up 21%

• New vehicle sales in 2022: 154,714 units, up 5.9%.Existing store base: 128,684 units, down 10%

Group 1 ranked 4th car newsUpdated list of the top 150 US-based dealer groups with 146,072 new car sales in 2021.