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Lithia Motors Inc. (LAD) Tops Q2 EPS by 15c; Boosts Outlook

July 24, 2013 8:18 AM EDT
Lithia Motors Inc. (NYSE: LAD) reported Q2 EPS of $1.05, $0.15 better than the analyst estimate of $0.90. Revenue for the quarter came in at $1 billion versus the consensus estimate of $975.81 million.

"We exceeded $1.0 billion in quarterly revenue for the first time in our history," said Bryan DeBoer, President and CEO. "The combination of acquisitions and same store sales growth increased revenue by 23% over the prior year. Our adjusted net income from continuing operations increased 41% from the prior year, significantly above the growth in revenue, as we increase our operating leverage. Based on our results through the first six months of the year, we are well on our way towards the first milestone for growth we established late in 2012, where total revenue increases by 25% from full year 2012 results."

Lithia Motors Inc. sees Q3 2013 EPS of $1.06-$1.08, versus the consensus of $1.04.

Lithia Motors Inc. sees FY2013 EPS of $3.80-$3.85, versus the consensus of $3.64.

For earnings history and earnings-related data on Lithia Motors Inc. (LAD) click here.


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