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Lithia Motors: 4Q Earnings Snapshot

MEDFORD, Ore. (AP) _ Lithia Motors Inc. (LAD) on Wednesday reported fourth-quarter profit of $59.9 million.

On a per-share basis, the Medford, Oregon-based company said it had net income of $2.54. Earnings, adjusted for one-time gains and costs, were $2.57 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share.

The auto dealership chain posted revenue of $2.97 billion in the period.

For the year, the company reported profit of $265.7 million, or $10.86 per share. Revenue was reported as $11.82 billion.

Lithia Motors shares have risen 13 percent since the beginning of the year. The stock has fallen 27 percent in the last 12 months.

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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