RTTNews | Feb 4, 2021 07:44AM EST

07:43 Thursday, February 4, 2021 (RTTNews.com) - Group 1 Automotive Inc. (GPI) reported Thursday that its fourth-quarter net income surged to $96.5 million or $5.43 per share from $46.3 million or $2.57 per share in the year-ago period.

Adjusted earnings for the quarter were $5.66 per share, compared to $3.01 per share last year.

However, total revenue for the quarter decreased 3.9 percent to $2.99 billion from $3.11 billion in the year-ago quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $5.82 per share for the quarter on revenues of $3.01 billion. Analysts' estimates typically exclude special items.

"With an expected market recovery in both the U.S. and U.K., we are in a good position to more actively pursue growth via acquisitions, as well as through our core aftersales and used vehicle businesses," said Earl Hesterberg, Group 1's President and Chief Executive Officer.

Read the original article on RTTNews ( https://www.rttnews.com/3166937/group-1-automotive-q4-profit-surges-but-results-miss-estimates-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved