Lithia earnings top Wall Street expectations
MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Wednesday reported third-quarter earnings of $158.8 million.
The Medford-based company reported a net income of $6.86 per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to $6.89 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $6.21 per share.
The auto dealership chain posted revenue of $3.62 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $3.57 billion.
Lithia Motors shares have increased 77% since the beginning of the year. The stock has climbed 92% in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research.