Record First Quarter Revenues and Growth
First quarter consolidated total revenues increased by 8% year over year, setting a record for the first quarter. Consolidated gross profit grew by 6%, and consolidated adjusted EBITDA increased by 7%.
Franchised Dealership Segment Success
Franchised dealership segment achieved record revenues of $3.1 billion, up 9% year over year, driven by an 11% increase in new retail volume and a 6% increase in fixed operations revenues.
EchoPark Segment Achievements
EchoPark segment income reached an all-time quarterly record of $10.3 million, with adjusted EBITDA at a record $15.8 million, up 116% year over year. EchoPark segment total gross profit per unit was an all-time record of $3,411 per unit.
Strong Balance Sheet and Liquidity
The company ended the quarter with $947 million in available liquidity, including $430 million in combined cash and floor plan deposits.
Dividend Approval
Board of Directors approved a quarterly cash dividend of $0.35 per share, payable on July 15, 2025.