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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.