HOUSTON (AP) _ Group 1 Automotive Inc. (GPI) on Thursday reported first-quarter earnings of $101.9 million.
The Houston-based company said it had net income of $5.52 per share. Earnings, adjusted for non-recurring costs, were $5.57 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.39 per share.
The auto dealer posted revenue of $3.01 billion in the period.
Group 1 Automotive shares have risen 29% since the beginning of the year. The stock has more than tripled in the last 12 months.
