MEDFORD, Ore. (AP) _ Lithia Motors Inc. (LAD) on Wednesday reported fourth-quarter earnings of $291 million.
The Medford, Oregon-based company said it had net income of $9.57 per share. Earnings, adjusted for non-recurring costs, came to $11.39 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $9.99 per share.
The auto dealership chain posted revenue of $6.31 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $6.32 billion.
For the year, the company reported profit of $1.06 billion, or $36.54 per share. Revenue was reported as $22.83 billion.
