RTTNews | Oct 6, 2020 07:39AM EDT

07:38 Tuesday, October 6, 2020 (RTTNews.com) - Group 1 Automotive, Inc. (GPI) reported preliminary financial results for the three months ended September 30, 2020. The company projects earnings per share to be between $6.25 and $6.65, and adjusted earnings per share between $6.40 and $6.80. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.51. Analysts' estimates typically exclude special items. Group 1 Automotive said the earnings increase represents a continuation of the solid profit performance of May and June 2020.

Group 1 Automotive also announced a new $200 million share repurchase authorization. The company expects that any repurchase of shares will be funded from cash from operations.

Group 1 Automotive expects to reinstate a quarterly cash dividend following its board meeting in mid-November payable in mid-December.

Shares of Group 1 Automotive were up 5% in pre-market trade on Tuesday.

Read the original article on RTTNews ( https://www.rttnews.com/3134113/group-1-automotive-projects-q3-adj-eps-to-grow-112-to-125-yoy-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved