HOUSTON (AP) — HOUSTON (AP) — Group 1 Automotive Inc. (GPI) on Thursday reported second-quarter profit of $103.3 million.
The Houston-based company said it had profit of $8.64 per share. Earnings, adjusted for one-time gains and costs, came to $9.61 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $10.79 per share.
The auto dealer posted revenue of $5.39 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $5.65 billion.