MEDFORD, Ore. (AP) — MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Wednesday reported third-quarter net income of $217.1 million.
The Medford, Oregon-based company said it had profit of $8.61 per share. Earnings, adjusted for one-time gains and costs, were $9.50 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $8.53 per share.
The auto dealership chain posted revenue of $9.68 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $9.61 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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