Group 1 Automotive Q4 Profit Surges, But Results Miss Estimates - Quick Facts

(RTTNews) - Group 1 Automotive Inc. (GPI) reported Thursday that its fourth-quarter net income surged to $96.5 million or $5.43 per share from $46.3 million or $2.57 per share in the year-ago period.

Adjusted earnings for the quarter were $5.66 per share, compared to $3.01 per share last year.

However, total revenue for the quarter decreased 3.9 percent to $2.99 billion from $3.11 billion in the year-ago quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $5.82 per share for the quarter on revenues of $3.01 billion. Analysts' estimates typically exclude special items.

"With an expected market recovery in both the U.S. and U.K., we are in a good position to more actively pursue growth via acquisitions, as well as through our core aftersales and used vehicle businesses," said Earl Hesterberg, Group 1's President and Chief Executive Officer.