Group 1 (GPI) Q1 Earnings Miss Expectations, Decline Y/Y

Group 1 Automotive (GPI) reported first-quarter 2024 adjusted earnings per share (EPS) of $9.49, missing the Zacks Consensus Estimate of$9.52 and falling 13.2% year over year. The automotive retailer registered net sales of $4.5 billion, beating the Zacks Consensus Estimate of$4.3 billion. Also, the top line rose from the year-ago quarter’s $4.13 billion.Quarter HighlightsNew vehicle retail sales increased 11.6$2.18 billion and exceeded our projection of $1.98 billion on t ...