Lithia Motors: 3Q Earnings Snapshot
MEDFORD, Ore. (AP) _ Lithia Motors Inc. (LAD) on Wednesday reported third-quarter net income of $85.2 million.
On a per-share basis, the Medford, Oregon-based company said it had net income of $3.64. Earnings, adjusted for non-recurring gains, came to $3.39 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.14 per share.
The auto dealership chain posted revenue of $3.33 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $3.24 billion.
Lithia Motors shares have risen 70% since the beginning of the year. The stock has increased 76% in the last 12 months.