Group 1 Automotive Q1 Profit Tops Estimates; Total Revenues Up 7.4%

(RTTNews) - Group 1 Automotive, Inc. (GPI) reported first quarter net income from continuing operations of $158.8 million, a 21.1% decrease compared to $201.1 million for the prior year quarter. Earnings per common share from continuing operations was $11.12, a 5.6% decrease compared to $11.78 for the prior year quarter.

Adjusted net income from continuing operations was $156.1 million, a 15.4% decrease compared to $184.6 million in the prior year quarter. Adjusted earnings per common share from continuing operations was $10.93, a 1.1% increase over the prior year quarter of $10.81. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $9.87, for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $4.1 billion, a 7.4% increase compared to $3.8 billion for the first quarter of 2022. Analysts on average had estimated $3.88 billion in revenue.

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