Group 1 Automotive Q2 Profit Up, Above Estimates - Quick Facts

(RTTNews) - Group 1 Automotive, Inc. (GPI), an automotive retailer Thursday posted a higher profit for the second quarter, as revenues across all its divisions increased.  Earnings also beast the Street estimates.

The company reported net income of $37.3 million or $1.43 per share, compared with $28.6 million or $1.20 per share during the same quarter last year.

On an adjusted basis, net income for the quarter increased 33.6 percent to $39.7 million or $1.52 per share.

Twelve analysts on average polled by Thomson Reuters expected the company to report earnings of $1.41 per share. Analyst estimates typically exclude one-time items.

Total revenues for the period increased 23.2 percent to $2.3 billion from $1.8 billion reported during the corresponding quarter last year. Analysts forecast revenues of $2.23 billion for the quarter.