Oct 28, 6:30 AM ET
Group 1 Automotive reported third-quarter 2026 results with total revenues of $5.4 billion, down from $5.8 billion a year earlier, while net income from continuing operations rose to $102.9 million from $13.1 million. The prior-year quarter included $123.9 million of asset impairments versus $7.0 million this quarter, which helped drive the GAAP improvement, while adjusted diluted earnings per share fell to $9.36 from $10.45.
- Diluted EPS from continuing operations was $8.59, versus $1.02 a year earlier; adjusted diluted EPS (non-GAAP) was $9.36, versus $10.45.
- Total revenues were $5.4 billion, down 6.7% from $5.8 billion; gross profit was $854.8 million, down 7.1%.
- Asset impairments were $7.0 million, compared with $123.9 million in the third quarter of 2025.
- The Hennessy Acquisition closed October 19, 2026, with expected annual revenues of approximately $1.7 billion; the company did not repurchase shares in the quarter.
Read the filing on SEC.gov ↗
Oct 21, 12:41 PM ET
Group 1 Automotive completed its acquisition of 10 Atlanta-area dealerships and one collision center from Hennessy Automobile Companies on October 19, 2026, for approximately $1.3 billion, subject to post-closing adjustments. The deal was funded with proceeds from $1.25 billion of senior notes issued earlier, plus cash on hand, which adds significant scale and debt to the company's balance sheet.
- Acquisition closed October 19, 2026; aggregate consideration approximately $1.3 billion, subject to post-closing adjustments including a true-up within 90 days
- $80.0 million of the purchase price placed in an indemnity escrow, released in stages at three, nine and 18 months after closing
- Funded by $625 million of 6.250% senior notes due 2032 and $625 million of 6.625% senior notes due 2035, plus cash on hand
- Financial statements and pro forma information for the acquisition will be filed later, within 71 calendar days of the required filing date
Read the filing on SEC.gov ↗
Sep 24, 6:01 AM ET
Group 1 Realty, a subsidiary of Group 1 Automotive, entered a master credit agreement with Bank of America on September 23, 2026, providing a term loan of up to $190,336,250. The loan is secured by mortgages on the borrower's and certain subsidiaries' properties and guaranteed by Group 1 Automotive, and it matures on September 23, 2033.
- Maximum term loan principal of $190,336,250, equal to 85% of the appraised value of mortgaged properties
- Interest accrues at Term SOFR plus 145 basis points
- Loan is secured by property mortgages and guaranteed by Group 1 Automotive and certain subsidiaries; matures September 23, 2033
- Covenants restrict additional secured debt, liens, asset dispositions and mergers; cross-defaults to certain other company debt could trigger repayment
Read the filing on SEC.gov ↗
Sep 22, 4:24 PM ET
Group 1 Automotive closed a private offering of $1.25 billion in senior notes due 2032 and 2035, with net proceeds of about $1,236.0 million. The company plans to use the proceeds, with cash on hand, to fund its pending acquisition of dealership assets and real estate from Hennessy Automobile Companies. The notes add long-term debt, and if the Hennessy deal does not close by the outside date, the 2032 notes must be redeemed at par plus interest.
- Two tranches of $625.0 million each: 6.250% notes due February 1, 2032 and 6.625% notes due February 1, 2035
- Net proceeds of approximately $1,236.0 million after discounts, commissions and estimated expenses
- Hennessy Acquisition must close by January 6, 2027, or the 2032 notes face a special mandatory redemption at 100% of issue price plus accrued interest
Read the filing on SEC.gov ↗
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