Lithia Motors Q1 earnings beat expectations despite revenue dip
MEDFORD, Ore. (AP) - Lithia Motors Inc. (LAD) on Wednesday reported first-quarter profit of $100.4 million.
The Medford, Oregon-based company said it had profit of $4.28 per share. Earnings, adjusted for non-recurring costs, came to $7.34 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.06 per share.
The auto dealership chain posted revenue of $9.27 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $9.36 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LAD at https://www.zacks.com/ap/LAD
