Group 1 Automotive, Inc. reported its financial results for the third quarter of 2026 on October 28, 2026. The company reported total revenues of $5.4 billion for the current quarter, a decrease of 6.7% compared to the prior-year quarter. Net income from continuing operations was $102.9 million, a significant increase from $13.1 million in the prior-year quarter. Diluted earnings per common share from continuing operations were $8.59 for the current quarter, compared to $1.02 in the prior year.
On a non-GAAP basis, adjusted diluted earnings per common share from continuing operations were $9.36 for the current quarter, compared to $10.45 in the prior year. The company noted that adjusted net income from continuing operations was $112.1 million for the current quarter, compared to $135.1 million in the prior year.
In terms of operational metrics, the company reported a 3% year-over-year increase in same-store customer pay revenues and a 4% increase in same-store repair orders in the U.S. Parts and service gross margin was 55.9% for the current quarter. The company also completed the acquisition of 10 high-volume and high-margin dealerships from Hennessy Automobile Companies in October 2026, expanding its presence in the Atlanta market to 15 dealerships.
Regarding its disposition strategy, the company has completed U.S. dispositions with approximately $235 million in proceeds since quarter end. It has an additional $125 million in proceeds expected from dispositions under definitive agreement, totaling approximately $360 million of proceeds. The company repurchased 205,190 shares of common stock during the current year at an average price of $353.08 per share, for a total cost of $72.4 million. As of September 30, 2026, the company had 11,947,272 shares of common stock outstanding and $306.3 million remaining under its Board authorized share repurchase program.
