MEDFORD, Ore. (AP) _ Lithia Motors Inc. (LAD) on Wednesday reported third-quarter profit of $329.6 million.
On a per-share basis, the Medford, Oregon-based company said it had net income of $11.92. Earnings, adjusted for non-recurring gains, came to $11.08 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 $11.91 per share.
The auto dealership chain posted revenue of $7.3 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $7.37 billion.
