Record-Breaking Second Quarter Revenue
Consolidated total revenues were a second quarter record, up 6% year-over-year, with consolidated gross profit growing 12% and consolidated adjusted EBITDA increasing 22%.
Franchised Dealerships Segment Success
Second quarter record franchise revenues of $3.1 billion, up 6% year-over-year on a same-store basis. Same-store new retail volume increased by 5%, with a 10% increase in same-store fixed operations revenues.
EchoPark Segment Achievements
EchoPark segment income and adjusted EBITDA reached all-time quarterly records, with $11.7 million and $16.4 million respectively, up 128% year-over-year. EchoPark gross profit increased by 22% year-over-year.
Strong F&I Performance
All-time record quarterly franchised F&I GPU of $2,721 per unit, up 12% sequentially and 14% year-over-year.
Powersports Segment Growth
Record second quarter revenues of $48.1 million, up 21% year-over-year, with gross profit up 17%.
Increased Quarterly Cash Dividend
Board of Directors approved a 9% increase to the quarterly cash dividend to $0.38 per share.