(RTTNews) - Group 1 Automotive, Inc. (GPI), on Thursday, reported higher net income in the fourth quarter despite a modest increase in revenue compared with the previous year.
For the fourth quarter, net income available to shares declined to $43.1 million from $92.9 million in the prior year.
Earnings per share were $3.47 versus $7.08 last year.
Adjusted net income from continuing operations available to shares declined to $103.8 million from $131.3
Adjusted earnings per share were $8.49 versus $10.02 last year.
On average, seven analysts had expected the company to report $9.38 per share. Analysts' estimates typically exclude special items.
Income from operations declined to $139.3 million from $193.7 million in the prior year.
Revenue increased to $5.58 billion from $5.55 billion in the previous year.
In the pre-market trading, Group 1 Automotive is 0.11% lesser at $395.99 on the New York Stock Exchange.
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