Moody's Upgrades Group 1 Automotive (GPI) to 'Ba1'; Outlook Stable

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Group 1 Automotive Reports Record Quarterly Earnings

July 23, 2015 7:07 AM EDT

HOUSTON, July 23, 2015 /PRNewswire/ -- Group 1 Automotive, Inc. (NYSE: GPI), an international, Fortune 500 automotive retailer, today reported record second quarter 2015 adjusted net income of $47.9 million, a 19.9 percent increase over the prior year. Adjusted diluted earnings per share of $1.98 were also an all-time record for any quarter, and a 34.7 percent increase from the comparable, adjusted prior-year period.

The quarter included non-recurring net after-tax charges of $1.6 million reflecting non-cash asset impairments of $0.8 million, resolution of a prior period legal... More