Lithia Motors: 4Q Earnings Snapshot
MEDFORD, Ore. (AP) _ Lithia Motors Inc. (LAD) on Wednesday reported fourth-quarter profit of $68 million.
On a per-share basis, the Medford, Oregon-based company said it had profit of $2.89. Earnings, adjusted for one-time gains and costs, came to $2.95 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.08 per share.
The auto dealership chain posted revenue of $3.27 billion in the period.
For the year, the company reported profit of $271.5 million, or $11.60 per share. Revenue was reported as $12.67 billion.
Lithia Motors shares have decreased 4% since the beginning of the year. The stock has risen 68% in the last 12 months.