HOUSTON (AP) — HOUSTON (AP) — Group 1 Automotive Inc. (GPI) on Thursday reported second-quarter net income of $140.5 million.
The Houston-based company said it had profit of $10.82 per share. Earnings, adjusted for one-time gains and costs, came to $11.52 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $10.31 per share.
The auto dealer posted revenue of $5.7 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $5.55 billion.
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