Group 1 Automotive Q2 Profit Beats Estimates

(RTTNews) - Group 1 Automotive Inc. (GPI) Thursday announced an increase in second quarter earnings available to the shareholders to $44.69 million from $44.51 million in the previous year. On a per share basis, earnings were $2.12, up from $1.91 a year ago. Adjusted earnings were $47.4 million or $2.16 per share.

On average, 9 analysts polled by Thomson Reuters expected the company to earn $2.09 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased 2.1 percent ot $2.782 billion from $2.726 billion in the previous year. Wall Street expected $2.89 billion.

The company noted that U.S. Industry sales growth moderated during the quarter.