Group 1 Automotive Q1 Profit Rises, Results Beat View - Quick Facts

(RTTNews) - Group 1 Automotive, Inc. (GPI), an automotive retailer, reported Thursday that its first-quarter net income rose to $30.15 million or $1.19 per share from $21.19 million or $0.88 per share in the year-ago period.

Adjusted net income, which exclude items, was $30.15 million or $1.19 per share, compared to $28.00 million or $1.16 per share in the prior-year period. On average, eleven analysts polled by Thomson Reuters expected earnings of $1.04 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter increased 15 percent to $2.26 billion from last year's $1.96 billion. Analysts had a consensus revenue estimate of $2.08 billion.

The company's U.S. revenues were $1.8 billion, an increase of 7 percent.

New vehicle revenues increased 14 percent, while new vehicle gross profit increased 7 percent.