Group 1 Automotive Q1 Adj. EPS $9.49 Beats $9.38 Estimate, Sales $4.47B Beat $4.38B Estimate
Portfolio Pulse from Benzinga Newsdesk
Group 1 Automotive (NYSE:GPI) reported Q1 adjusted EPS of $9.49, surpassing the $9.38 estimate, and sales of $4.47B, exceeding the $4.38B estimate. This represents a 13.17% decrease in EPS and an 8.26% increase in sales year-over-year.
April 24, 2024 | 9:03 am
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Group 1 Automotive reported a Q1 adjusted EPS of $9.49, beating estimates, and sales of $4.47B, also above expectations. Despite a year-over-year decrease in EPS, sales grew.
The positive earnings and sales beat are likely to be viewed favorably by investors, potentially leading to a short-term uptick in GPI's stock price. The decrease in EPS year-over-year might temper some of the enthusiasm, but the sales growth and earnings beat are significant positive indicators.
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