Lithia Motors (LAD) Q2 Earnings & Sales Top Estimates, Up Y/Y
Zacks Investment Research | Jul 25, 2019 08:47AM ET
Lithia Motors, Inc. (NYSE:LAD) reported adjusted earnings per share of $2.95 in second-quarter 2019, marking a 17% increase from the prior-year quarter’s $2.52. Further, the bottom-line figure beat the Zacks Consensus Estimate of $2.87. This upside stemmed from increasing same-store sales across all business lines.
Reportedly, in the second quarter, adjusted net income went up 11% year over year to $69 million. Total revenues in the quarter increased 4% year over year to $3.22 billion. The reported figure also outpaced the Zacks Consensus Estimate of $3.21 billion. Total same-store sales increased 5.8% year over year to $3,173.3 million.
Gross profit rose 7.1% to $493.6 million in the reported quarter from $460.7 million witnessed in the year-ago quarter.
Lithia Motors, Inc. Price, Consensus and EPS Surprise
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