Group 1 Auto Posts Q3 EPS of $8.59
GPI is trading near its 52-week low of $224.65 (9.3% above the low).
Summary
Group 1 Automotive reported third-quarter EPS of $8.59, per the Dow Jones wire, alongside net income of $102.9M and gross profit of $854.8M versus $837.6M a year earlier. Adjusted EPS from continuing operations fell to $9.36 from $10.45, and adjusted net income was $112.1M versus $135.1M a year earlier. Revenue was USD 5,400 Million versus an IBES estimate of USD 5,583 Million. This lands three weeks after the company closed its $1.3 billion Hennessy acquisition of 10 Atlanta dealerships, the first quarter that deal's contribution begins to show. It also follows Conifer Management's build to a roughly 15% activist stake and its September board seat agreement, which keeps margin and capital-allocation questions in focus. New-vehicle margins and any guidance will determine whether this number holds up.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Group 1's Q3 adjusted EPS from continuing operations fell to $9.36 from $10.45, and adjusted net income was $112.1M versus $135.1M a year earlier.
At the time of this announcement, GPI was trading at $245.62 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3B. The 52-week trading range was $224.65 to $429.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.