HOUSTON (AP) — HOUSTON (AP) — Group 1 Automotive Inc. (GPI) on Wednesday reported first-quarter profit of $144.6 million.
The Houston-based company said it had net income of $10.80 per share. Earnings, adjusted for one-time gains and costs, came to $9.49 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $9.52 per share.
The auto dealer posted revenue of $4.47 billion in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $4.3 billion.
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