Lithia Motors Inc (LAD) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $209.1 million, or $7.80 per share. This compares with $261.5 million, or $9.46 per share, in last year's third quarter.
Excluding items, Lithia Motors Inc reported adjusted earnings of $220.1 million or $8.21 per share for the period.
Analysts on average had expected the company to earn $7.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 11.4% to $9.221 billion from $8.277 billion last year.
Lithia Motors Inc earnings at a glance (GAAP) :
-Earnings (Q3): $209.1 Mln. vs. $261.5 Mln. last year.
-EPS (Q3): $7.80 vs. $9.46 last year.
-Revenue (Q3): $9.221 Bln vs. $8.277 Bln last year.
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