Group 1 Automotive (NYSE: GPI) reported Q3 EPS of $2.47, $0.03 better than the analyst estimate of $2.44. Revenue for the quarter came in at $2.89 billion versus the consensus estimate of $3.06 billion.

• Total revenue decreased 4.1 percent (decreased 3.1 percent) to $2.9 billion.
• Total gross profit increased 0.9 percent (increased 1.8 percent), to $435.1 million.
• New vehicle revenues decreased 10.0 percent (decreased 8.9 percent) on a 9.8 percent decrease in unit sales, reflecting difficult year-over-year comparisons as a result of very strong replacement demand from Hurricane Harvey in the third quarter 2017 and emission testing-related supply constraints in the UK in September 2018. New vehicle gross profit decreased 12.1 percent (decreased 10.5 percent), to $77.6 million.
• Retail used vehicle revenues increased 6.6 percent (7.5 percent) on 9.7 percent higher unit sales. Retail used vehicle gross profit increased 6.4 percent (7.2 percent), to $50.2 million. Total used vehicle gross profit was up 6.2 percent (7.1 percent), to $49.8 million.
• Parts and service gross profit increased 3.5 percent (4.2 percent) on revenue growth of 3.3 percent (4.2 percent). Same Store parts and service gross profit increased 1.8 percent (2.5 percent) on Same Store parts and service revenue growth of 2.0 percent (2.9 percent).
• Finance and Insurance (F&I) gross profit per retail unit (PRU) increased 6.4 percent (7.0 percent), to $1,429.
• Selling, General and Administrative (SG&A) expenses as a percent of gross profit decreased 330 basis points, to 72.8 percent. Adjusted Same Store SG&A as a percent of gross profit increased 110 basis points, to 73.3 percent.

"Although our results were impacted by some unusual factors, especially in the U.K., we are pleased with our quarterly results, which established a new all-time quarterly record of $2.47 per share on an adjusted basis," said Earl J. Hesterberg, Group 1\'s president and chief executive officer. "Strong used vehicle results and good cost control contributed positively to the quarter. However, the severe lack of 2019 model vehicles to sell in the U.K. during a major plate change sales month was unexpected and very damaging to our business. We expect manufacturer supply to improve across the U.K. by year end."

For earnings history and earnings-related data on Group 1 Automotive (GPI) click here.