Group 1 Automotive, Inc. has announced its financial results for the third quarter of 2026, revealing strong growth in net income and earnings per share. The company reported a net income of $102.9 million, significantly up from $13.1 million in the prior year. This increase reflects a strategic focus on high-revenue dealerships and operational efficiency.

The company's total revenues for the quarter were $5.4 billion, down from $5.8 billion in the same period last year. However, the diluted earnings per share from continuing operations rose to $8.59, compared to $1.02 in the prior-year quarter. Adjusted diluted earnings per share were $9.36, slightly down from $10.45 a year ago.

Additionally, Group 1 completed the acquisition of 10 high-volume dealerships from Hennessy Automobile Companies, expanding its footprint in the Atlanta market to 15 dealerships. This move is part of the company's strategy to focus on premium brand stores in growing markets.

“We’re pleased to have closed the Hennessy acquisition and grateful to the Hennessy family for 62 years of excellent stewardship,” said Daryl Kenningham, Group 1's President and CEO. “This acquisition aligns with our strategy to focus on high-revenue, premium brand stores in growing markets where we have a strong local presence.”

The company is also on track with its disposition plan, having completed U.S. dispositions that generated approximately $235 million in proceeds since the end of the last quarter. An additional $125 million is expected from dispositions currently under definitive agreements, totaling around $360 million.

Group 1's focus on operational execution has led to year-over-year growth in same-store customer pay revenue and repair orders, increasing by 3% and 4%, respectively. This growth comes despite challenging market conditions and reflects the effectiveness of cost-cutting measures implemented earlier this year.

Looking ahead, Group 1 Automotive continues to prioritize reducing leverage and enhancing profitability through strategic acquisitions and operational efficiencies. The filing does not specify what happens next.