HOUSTON (AP) — HOUSTON (AP) — Group 1 Automotive Inc. (GPI) on Wednesday reported fourth-quarter profit of $108.8 million.
The Houston-based company said it had profit of $7.87 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $9.50 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $10.49 per share.
The auto dealer posted revenue of $4.48 billion in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $4.38 billion.
For the year, the company reported profit of $601.6 million, or $42.73 per share. Revenue was reported as $17.87 billion.
