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GROUP 1 AUTOMOTIVE® FOR IMMEDIATE RELEASE Group 1 Automotive Announces Record First Quarter 2021 Financial Results Market Recovery & Cost Discipline Drive 242.5 % Increase in EPS HOUSTON , April 29 , 2021 - Group 1 Automotive , Inc. ( NYSE : GPI ) , ( “ Group 1 ” or the “ Company ” ) , an international , Fortune 500 automotive retailer , today reported first quarter 2021 financial results . First quarter 2021 net income per diluted share was a first - quarter record of $ 5.52 , a 242.5 percent increase from $ 1.61 per diluted share as reported for first quarter 2020. First quarter 2021 adjusted net income per diluted share ( a non - GAAP measure ) was also a first quarter record of $ 5.57 , a 236.2 percent increase from $ 1.66 per diluted share as reported for first quarter 2020. First quarter 2021 net income was a first quarter record of $ 101.9 million , a 242.3 percent increase compared to net income of $ 29.8 million in the same period of 2020. First quarter 2021 adjusted net income ( a non - GAAP measure ) was also a first quarter record of $ 102.7 million , a 236.0 percent increase compared to adjusted net income of $ 30.6 million for the same period of 2020. The Company's 2021 first quarter total revenues was a first quarter record of $ 3.0 billion , an 11.9 percent increase compared to the total revenues of $ 2.7 billion in the same period of 2020. This revenue increase was driven by U.S. new and used vehicle revenue growth of more than 20 percent . First quarter 2021 adjusted net income and diluted earnings per share excluded net after - tax adjustments of $ 1.7 million , or $ 0.09 per common share , primarily related to catastrophic event losses , which were partially offset by gains of $ 0.8 million , or $ 0.04 per common share , related to legal matters ; and $ 0.2 million , or $ 0.01 per common share , related to real estate and dealership transactions . First quarter 2020 adjusted net income and diluted earnings per share excluded a net after - tax adjustment of $ 0.8 million , or $ 0.04 per share , primarily related to severance costs in Brazil associated with downsizing the operation due to COVID - 19 . Reconciliations of non - GAAP financial measures are included in the attached financial tables . Certain disclosures may not compute due to rounding . " I am especially pleased with these record first quarter results given significant business interruption in both our U.S. and U.K. markets during the quarter . We lost a week of business in most of our Texas and Oklahoma operations due to the well - publicized February winter storm , ” said Earl J. Hesterberg , Group 1's President and Chief Executive Officer . " Additionally , our U.K. showrooms were closed for the entire quarter due to government mandated lockdown measures . Clearly these factors reduced our sales and service volume to some degree , which makes our outstanding financial performance even more remarkable . ” Consolidated Results for First Quarter 2021 ( year - over - year comparable basis ) The Company's consolidated total revenues increased 11.9 percent , to $ 3.0 billion . Total gross profit increased 17.8 percent , to $ 490.7 million . Same Store total revenues increased 11.8 percent on a constant currency basis , to $ 3.0 billion . Same Store total gross profit increased 18.4 percent on a constant currency basis , to $ 489.6 million . • New vehicle revenue increased 15.0 percent , on a 4.3 percent increase in unit sales . New vehicle gross profit per retail unit ( PRU ) increased 51.2 percent , to $ 2,687 . Same Store new vehicle revenue increased 14.8 percent on a constant currency basis , on 5.0 percent higher unit sales . Same Store new vehicle gross profit PRU increased 51.0 percent on a constant currency basis , to $ 2,689 . 1