MEDFORD, Ore. (AP) _ Lithia Motors Inc. (LAD) on Wednesday reported second-quarter earnings of $331.3 million.
The Medford, Oregon-based company said it had profit of $11.60 per share. Earnings, adjusted for one-time gains and costs, came to $12.18 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $12.22 per share.
The auto dealership chain posted revenue of $7.24 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $7.51 billion.
