MEDFORD, Ore. (AP) _ Lithia Motors Inc. (LAD) on Wednesday reported third-quarter net income of $93.1 million.
The Medford, Oregon-based company said it had profit of $3.84 per share. Earnings, adjusted for non-recurring gains, came to $2.83 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.58 per share.
The auto dealership chain posted revenue of $3.09 billion in the period.
Lithia Motors expects full-year earnings to be $9.50 per share, with revenue in the range of $11.75 billion to $12.25 billion.
Lithia Motors shares have dropped 33 percent since the beginning of the year. The stock has dropped 33 percent in the last 12 months.