MEDFORD, Ore. (AP) — MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Wednesday reported first-quarter profit of $162.6 million.
On a per-share basis, the Medford, Oregon-based company said it had net income of $5.89. Earnings, adjusted for costs related to mergers and acquisitions, came to $6.11 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.85 per share.
The auto dealership chain posted revenue of $8.56 billion in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $8.51 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
The Associated Press
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