Lithia Motors (LAD) Q1 Earnings Top Estimates, Revenues Miss
Zacks Investment Research | Apr 24, 2019 09:06PM ET
Lithia Motors, Inc. (NYSE:LAD) reported adjusted earnings per share of $2.44 in first-quarter 2019, marking an 18% increase from $2.07 in the prior-year quarter. Further, the bottom line beat the Zacks Consensus Estimate of $2.15. This increase was owing to strong performance by the company’s three more-profitable business lines, consisting of retail used vehicles, finance and insurance (F&I), and service body and parts.
Reportedly, in the quarter under review, adjusted net income rose 9% year over year to $57 million. Total revenues in the quarter increased 7% year over year to $2.85 billion, narrowly missing the Zacks Consensus Estimate of $2.89 billion.
Gross profit rose 10.4% to $450.7 million in the quarter under review from $408.1 million in the year-ago quarter.
Lithia Motors, Inc. Price, Consensus and EPS Surprise
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