By Don Nico Forbes
Lithia Motors reported a fall in profit in the third quarter, but revenue rose.
The car dealership company said profit fell to $209.1 million, or $7.80 a share, from $261.5 million, or $9.46 a share, in the year-ago period.
On an adjusted basis, the company reported a profit of $8.21 a share. Analysts were expecting $7.60, according to FactSet.
Revenue increased 11% to $9.22 billion. Analysts had expected sales of $9.46 billion.
Write to Don Nico Forbes at don.forbes@wsj.com
(END) Dow Jones Newswires
October 23, 2024 06:18 ET (10:18 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.