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Group 1 Automotive Q1 profit climbs 16.8% YOY

Group 1 Automotive Inc. said its first-quarter normalized net income amounted to $1.53 per share, compared with the S&P Capital IQ consensus estimate of $1.38 per share.

EPS climbed 26.7% year over year from $1.21.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $35.9 million, a gain of 16.8% from $30.8 million in the prior-year period.

The normalized profit margin climbed to 1.5% from 1.4% in the year-earlier period.

Total revenue rose 7.6% year over year to $2.43 billion from $2.26 billion, and total operating expenses grew 7.4% year over year to $2.35 billion from $2.19 billion.

Reported net income grew 14.2% year over year to $34.4 million, or $1.47 per share, from $30.1 million, or $1.19 per share.