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Group 1 Automotive Q2 profit climbs 17.0% YOY

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Group 1 Automotive Q2 profit climbs 17.0% YOY

Group 1 Automotive Inc. said its normalized net income for the second quarter amounted to $2.06 per share, compared with the S&P Capital IQ consensus estimate of $1.81 per share.

EPS increased 31.7% year over year from $1.56.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $48.0 million, an increase of 17.0% from $41.0 million in the prior-year period.

The normalized profit margin climbed to 1.8% from 1.6% in the year-earlier period.

Total revenue rose 8.6% year over year to $2.73 billion from $2.51 billion, and total operating expenses rose 8.3% year over year to $2.63 billion from $2.42 billion.

Reported net income increased year over year to $44.5 million, or $1.91 per share, from $16.2 million, or 62 cents per share.