HOUSTON (AP) _ Group 1 Automotive Inc. (GPI) on Wednesday reported first-quarter net income of $202.9 million.
The Houston-based company said it had profit of $11.88 per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to $10.81 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $9.45 per share.
The auto dealer posted revenue of $3.84 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $3.77 billion.
