Group 1 Automotive Q3 Earnings Surge to $102 Million Despite 6.7% Revenue Decline

Group 1 Automotive Inc. (GPI) reported third-quarter earnings of $102.0 million, or $8.59 per share, up sharply from $13.0 million, or $1.02 per share, in the same period last year. Excluding one-time items, the dealership group posted adjusted earnings of $111.1 million, or $9.36 per share. Revenue for the quarter fell 6.7% to $5.396 billion from $5.782 billion a year earlier. All figures reflect continuing operations.