Group 1 Automotive, Inc. (NYSE:GPI) Q1 2022 Results Conference Call April 27, 2022 10:00 AM ET

Company Participants

Peter DeLongchamps - SVP, Manufacturer Relations, Financial Services and Public Affairs

Earl Hesterberg - President & Chief Executive Officer

Daryl Kenningham - President of US & Brazilian operations

Daniel McHenry - Senior Vice President & Chief Financial Officer

Conference Call Participants

Mike Ward - Benchmark

John Murphy - Bank of America

Daniel Imbro - Stephens

David Whiston - Morningstar

Rajat Gupta - JPMorgan

Glenn Chin - Seaport

Operator

Good morning, ladies and gentlemen, and welcome to Group 1 Automotive's 2022 First Quarter Financial Results Conference Call. Please be advised that this call is being recorded.

I would now like to turn the call over to Mr. Peter DeLongchamps, Group 1's Senior Vice President of Manufacturer Relations, Financial Services and Public Affairs. Please go ahead, Mr. DeLongchamps.

Peter DeLongchamps

Thank you, Chuck, and good morning, everyone, and welcome to today's call. The earnings release we issued this morning and the related slide presentation that include reconciliations related to the adjusted results we will refer to on this call for comparison purposes have been posted to the Group 1 website.

Before we begin, I'd like to make some brief remarks about forward-looking statements and the use of non-GAAP financial measures. Except for historical information mentioned during the conference call, statements made by management of Group 1 Automotive are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements involve both known and unknown risks and uncertainties which may cause a results in future periods to differ materially from forecasted results. Those risks include, but are not limited to, risks associated with pricing, volume, inventory supply due to increased customer demand and reduced manufacturing production levels due to component shortages, conditions of markets and adverse developments in the economy as well as the public health crisis related to the COVID-19 virus and resulting impacts on demand for new and used vehicles and related services.

Those and other risks are described in the Company's filings with the Securities and Exchange Commission. In addition, certain non-GAAP financial measures as defined under SEC rules may be discussed on this call. As required by applicable SEC rules, the Company provides reconciliations of any such non-GAAP financial measures to the most directly comparable GAAP measures on its website.