MEDFORD, Ore. (AP) — MEDFORD, Ore. (AP) — Lithia Motors Inc. (LAD) on Wednesday reported fourth-quarter net income of $136.8 million.
The Medford, Oregon-based company said it had profit of $5.72 per share. Earnings, adjusted for one-time gains and costs, came to $6.74 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $8.09 per share.
The auto dealership chain posted revenue of $9.2 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $9.53 billion.
For the year, the company reported profit of $819.6 million, or $32.32 per share. Revenue was reported as $37.63 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
