Group 1 Automotive Inc. (NYSE:GPI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Group 1 Automotive Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 19.59% to $1.16 in the quarter versus EPS of $0.97 in the year-earlier quarter.
Revenue: Rose 17.97% to $1.96 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Group 1 Automotive Inc. reported adjusted EPS income of $1.16 per share. By that measure, the company beat the mean analyst estimate of $1.03. It beat the average revenue estimate of $1.91 billion.
Quoting Management: “I am pleased with Group 1′s first-quarter operating results including significant revenue growth and solid expense leverage that delivered record first-quarter earnings,” said Earl J. Hesterberg, Group 1′s president and chief executive officer. “We also significantly expanded the scale of our U.K. business and entered the rapidly-growing Brazilian automotive market. This is an exciting time for our company – an unprecedented growth phase which should support strong returns for our shareholders over time.”
Key Stats (on next page)…