MEDFORD, Ore. (AP) — MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Wednesday reported fourth-quarter profit of $216.2 million.
On a per-share basis, the Medford, Oregon-based company said it had net income of $8.12. Earnings, adjusted for non-recurring gains, came to $7.79 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $7.01 per share.
The auto dealership chain posted revenue of $9.22 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $8.81 billion.
For the year, the company reported profit of $802 million, or $29.65 per share. Revenue was reported as $36.24 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LAD at https://www.zacks.com/ap/LAD
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