HOUSTON (AP) — HOUSTON (AP) — Group 1 Automotive Inc. (GPI) on Thursday reported fourth-quarter net income of $43.6 million.
The Houston-based company said it had profit of $3.52 per share. Earnings, adjusted for one-time gains and costs, were $8.49 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $9.36 per share.
The auto dealer posted revenue of $5.58 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $5.66 billion.
For the year, the company reported profit of $325.2 million, or $25.24 per share. Revenue was reported as $22.57 billion.
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