HOUSTON (AP) — HOUSTON (AP) — Group 1 Automotive Inc. (GPI) on Tuesday reported third-quarter profit of $12.8 million.
The Houston-based company said it had profit of $1 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $10.45 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $10.64 per share.
The auto dealer posted revenue of $5.78 billion in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $5.63 billion.
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