Group 1 Automotive, Inc. (NYSE:GPI) Q2 2024 Earnings Call July 24, 2024 10:00 AM ET
Company Participants
Pete DeLongchamps - Senior Vice President, Manufacturer Relations, Financial Services and Public Affairs
Daryl Kenningham - President and Chief Executive Officer
Daniel McHenry - Senior Vice President and Chief Financial Officer
Conference Call Participants
Rajat Gupta - JPMorgan
John Murphy - Bank of America
David Whiston - Morningstar
Michael Ward - Freedom Capital
Ron Jewsikow - Guggenheim Securities
Glenn Chin - Seaport Research Partners
Operator
Good morning, ladies and gentlemen. Welcome to Group 1 Automotive’s Second Quarter of 2024 Financial Results Conference Call. Please be advised that this call is being recorded today. I would now like to turn the call over to Mr. Pete DeLongchamps, Group 1’s Senior Vice President of Manufacturer Relations, Financial Services and Public Affairs. Please go ahead, Mr. DeLongchamps.
Pete DeLongchamps
Thank you, Joe and good morning everyone and welcome to today’s call. The earnings release we issued this morning and a 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 Group 1’s 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 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 the company’s actual results and future periods to differ materially from forecasted results. Those risks included, 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, successful integration of our pending Inchcape acquisition, and adverse developments in the global economy 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, maybe 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.
Participating with me on today’s call, Daryl Kenningham, our President and Chief Executive Officer; and Daniel McHenry, Senior Vice President and Chief Financial Officer.