Group 1 Automotive Q3 revenue falls 6.7%, misses estimates
GPI•Group 1 Automotive’s third-quarter revenue fell 6.7% year over year to $5.40 billion, below analysts’ $5.58 billion estimate. Adjusted EPS from continuing operations declined year over year to $9.36.
1. Quarterly results
Group 1 Automotive reported third-quarter revenue of $5.40 billion, down 6.7% year over year and below the $5.58 billion analyst consensus. Adjusted EPS from continuing operations was $9.36, while EPS from continuing operations was $8.59. The company said it acquired 10 Atlanta dealerships and plans to use proceeds from dealership sales to reduce leverage.
