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.
