Group 1 quarterly earnings rise

Newswire

DETROIT, Oct 31 (Reuters) - Car dealership chain Group 1 Automotive Inc. on Tuesday said third-quarter net income rose, driven mainly by improved margins in its used-vehicle and parts and service units. The Houston-based company said earnings rose to $26.4 million, or $1.10 per share, from $21.6 million, or 88 cents per share, a year earlier. Analysts, on average, had expected the company to earn $1.03 per share, according to Reuters Estimates.

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