MEDFORD, Ore. (AP) _ Lithia Motors Inc. (LAD) on Wednesday reported third-quarter earnings of $307.9 million.
On a per-share basis, the Medford, Oregon-based company said it had profit of $10.11. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $11.21 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $9.82 per share.
The auto dealership chain posted revenue of $6.17 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $6.09 billion.
