The company generated $7.9 billion in revenue for Q1 2026, down from $8.0 billion last year, delivering net income attributable to common stockholders of $234.5 million ($3.56 per share) versus $257.7 million ($3.86) in 2025. Adjusted net income declined 16% to $200.6 million, and adjusted EPS fell 15% to $3.05, as market challenges weighed on profitability.

During the quarter, total new vehicle deliveries decreased 5% and used deliveries fell 1% year-over-year due to weather disruptions and lower EV demand. On a sequential basis, new vehicle gross profit per unit rose by $94 and used vehicle gross profit per unit increased by $306, while same-store service and parts revenue climbed 5% with gross profit up 6% and a 59.0% margin.

Retail commercial truck dealerships retailed 3,583 units and produced $694.6 million in revenue with $36.4 million in earnings before taxes, down from 4,714 units, $823.7 million revenue and $45.1 million in earnings a year earlier. Industry Class 8 orders jumped 91% year-over-year, and service and parts revenue improved by 5%.

The company completed the acquisition of two Lexus dealerships in Central Florida expected to add $450 million in annualized revenue, bringing total acquisitions over the past six months to six dealerships with $2 billion in estimated revenue. It increased its dividend by 1.4% and repurchased 170,393 shares for approximately $26.4 million.