MEDFORD, Ore. (AP) — Lithia Motors Inc. on Wednesday reported first-quarter profit of $162.6 million.
On a per-share basis, the Medford, Oregon-based company said it had net income of $5.89. Earnings, adjusted for costs related to mergers and acquisitions, came to $6.11 per share.
Lithia is proposing two dealerships in Vancouver on east Mill Plain Boulevard.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.85 per share.
The auto dealership chain posted revenue of $8.56 billion in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $8.51 billion.
