MEDFORD, Ore. (AP) — MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Wednesday reported fourth-quarter profit of $247.7 million.
On a per-share basis, the Medford, Oregon-based company said it had net income of $9. Earnings, adjusted for non-recurring costs, were $9.05 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $10.11 per share.
The auto dealership chain posted revenue of $6.99 billion in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $6.89 billion.
For the year, the company reported profit of $1.25 billion, or $44.17 per share. Revenue was reported as $28.23 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
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