Group 1 Automotive Reports Q3 Earnings Miss on Lower Revenue and EPS
Group 1 Automotive (NYSE: GPI) reported third-quarter financial results that fell short of analyst expectations. The company posted non-GAAP diluted earnings per share (EPS) of $9.36, missing estimates by $0.14, representing a 10.4% decline compared to the previous year. Revenue for the quarter reached $5.4 billion, marking a 6.6% year-over-year decrease and falling $180 million below consensus forecasts. While GAAP diluted EPS saw an increase to $8.59 from $1.02 in the prior year period, the overall decline in revenue and adjusted earnings highlights significant headwinds for the automotive retailer.
Tickers: $GPI