MEDFORD, Ore. (AP) — MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Wednesday reported first-quarter profit of $209.5 million.
On a per-share basis, the Medford, Oregon-based company said it had profit of $7.94. Earnings, adjusted for one-time gains and costs, were $7.66 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $7.77 per share.
The auto dealership chain posted revenue of $9.18 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $9.28 billion.
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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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