Group 1 Automotive Q1 Profit Tops Estimates

(RTTNews) - Group 1 Automotive, Inc. (GPI) reported first quarter adjusted net income per share of $5.57, a 236.2 percent increase from $1.66, last year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $4.43, for the quarter. Analysts' estimates typically exclude special items.

First quarter net income was $101.9 million, a 242.3 percent increase from last year. Net income per share was $5.52, compared to $1.61.

First quarter total revenues was $3.0 billion, an 11.9 percent increase from $2.7 billion, last year. The company said this revenue increase was driven by U.S. new and used vehicle revenue growth of more than 20 percent. Analysts expected revenue of $2.69 billion, for the quarter.

Shares of Group 1 Automotive were up 3% in pre-market trade on Thursday.