HOUSTON (AP) — HOUSTON (AP) — Group 1 Automotive Inc. (GPI) on Thursday reported first-quarter profit of $128.1 million.
The Houston-based company said it had net income of $9.67 per share. Earnings, adjusted for one-time gains and costs, came to $10.17 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $9.68 per share.
The auto dealer posted revenue of $5.51 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $5.34 billion.
