HOUSTON (AP) _ Group 1 Automotive Inc. (GPI) on Thursday reported first-quarter net income of $37.2 million.
The Houston-based company said it had net income of $2.08 per share. Earnings, adjusted for non-recurring gains, came to $2.06 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.
The auto dealer posted revenue of $2.81 billion in the period.
Group 1 Automotive shares have climbed 42 percent since the beginning of the year. The stock has increased 15 percent in the last 12 months.
