HOUSTON (AP) 鈥� HOUSTON (AP) 鈥� Group 1 Automotive Inc. (GPI) on Thursday reported first-quarter net income of $130.2 million.
On a per-share basis, the Houston-based company said it had profit of $10.85. Earnings, adjusted for non-recurring gains and to account for discontinued operations, were $8.66 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $8.93 per share.
The auto dealer posted revenue of $5.41 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $5.5 billion.
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