Group 1 Automotive reports strong earnings, stock prices hit all-time high

From Google: 2024-07-24 12:35:00

Group 1 Automotive shares soar to all-time high post better than expected 2Q earnings. The company reports earnings of $439.9 million, surpassing analysts’ expectations of $424.5 million. The car retailer’s net income jumps to $87.7 million, up from $57.2 million in the previous year. Stock prices hit record high.

Strong 2Q earnings drive Group 1 Automotive shares up, exceeding Wall Street predictions. Revenue for the car dealership climbs to $3.11 billion, compared to $2.8 billion in the same period last year. The company’s adjusted earnings per share reach $8.81, a significant increase from the forecasted $7.65.

Group 1 Automotive excels in 2Q, posting impressive financial results. The company’s shares surge after reporting record earnings of $439.9 million. Net income rises to $87.7 million, showcasing a substantial growth from $57.2 million in the previous year. Stock prices hit an all-time high following the strong performance.

The car retailer, Group 1 Automotive, experiences a surge in shares after reporting better-than-expected 2Q earnings. The company’s revenue exceeds analysts’ predictions, reaching $3.11 billion for the quarter. Strong financial results lead to a record high net income of $87.7 million. Earnings per share also surpass estimates, boosting stock prices.



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