Record Full-Year Results and Volumes
Recorded all-time high full-year gross profit of more than $3.6 billion and sold a record 459,000 new and used vehicles in 2025.
Strong Reported Financials
Reported 2025 revenue of $5.6 billion, gross profit of $874 million (reported), adjusted net income of $105 million, and adjusted diluted EPS of $8.49 from continuing operations.
Record Parts & Service Performance
Full-year parts and service gross profit reached nearly $1.6 billion; aftersales growth stood out, with technician counts up (U.S. same-store technicians +2.3% YoY; UK same-store technicians +9.5% YoY) and improved customer pay performance (UK customer pay revenue +9% YoY).
F&I Improvement and Virtual Adoption
F&I PRU in the UK increased ~13% (or $123) and F&I GPUs grew nearly 3% in the quarter (roughly $67 reported / $65 same-store), supported by broader adoption of virtual finance operations and higher product penetrations.
Used Vehicle Revenue Strength (U.S.)
Used vehicle revenues in the U.S. increased approximately 41% on an as-reported and same-store basis, aided by disciplined sourcing and operational flexibility.
Strong Cash Generation and Capital Allocation
Generated $699 million of adjusted operating cash flow and $494 million of free cash flow after $205 million of CapEx; repurchased >10% of outstanding shares in 2025 (~1.3M shares for $555M) and repurchased additional shares ($28.3M) post-quarter; $350M remaining on authorization.
Strategic Portfolio Actions and Acquisitions
Completed targeted acquisitions in the U.S. and UK expected to add ~ $40 million of annual revenue, disposed of 13 dealerships (32 franchises) representing ~ $775 million of annualized revenue to reshape portfolio, and completed UK systems integration and contact center consolidation (10->2) to drive operational consistency.
Liquidity and Leverage
Liquidity of $883 million (cash $537M + $346M available on acquisition line) with rent-adjusted leverage of 3.1x at December and an expressed goal to move leverage below 3x.