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TheStreet Open House

Group 1 Automotive CEO Discusses Q3 2010 Results - Earnings Call Transcript

Group 1 Automotive Inc. ( GPI)

Q3 2010 Earnings Call

October 26, 2010 10:00 am ET

Executives

Lance Parker - VP & Corporate Controller

Earl Hesterberg - President and Chief Executive Officer

John Rickel - SVP & CFO

Analysts

John Murphy - Bank of America

Rick Nelson - Stephens

Adi Oberoi - Goldman Sachs

Matt Nemer - Wells Fargo

Scott Stember - Sidoti & Company

Himanshu Patel - JPMorgan

Ravi Shanker - Morgan Stanley

Pat Archambault - Goldman Sachs

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to Group 1 Automotive 2010 Third Quarter Financial Results Conference Call. Please be advised that this call is being recorded.

I would now like to turn the call over to Mr. Lance Parker, Group 1 's Vice President and Corporate Controller. Please go ahead, Mr. Parker.

Lance Parker

Thank you, Lia. Good morning, everyone, and welcome to today 's call. Before we begin, I would 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 conference 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 in future periods to differ materially from forecasted results. Those risks include, but are not limited to, risks associated with pricing, volume, and the conditions of markets. Those and other risks are described in the company 's filings with the Securities and Exchange Commission over the last 12 months. Copies of these filings are available from both the SEC and the company.

In addition, certain non-GAAP financial measures as defined under SEC rules may be 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 on today 's call are Earl Hesterberg, our President and Chief Executive Officer; John Rickel, our Senior Vice President and Chief Financial Officer; and myself.

I will now hand the call over to Earl.

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