Lithia Motors (NYSE: LAD) reported Q3 EPS of $2.83, $0.30 better than the analyst estimate of $2.53. Revenue for the quarter came in at $3.1 billion versus the consensus estimate of $3.16 billion.

"We achieved record results in the third quarter driven by strong top line growth," said Bryan DeBoer, President and CEO. "Total revenue and gross profit both increased over 15%, and adjusted EPS grew 30%. We are seeing traction in realizing the over $250 million of store earnings potential as operations continue to season and stabilize. Our focus on innovation and diversification is producing results as evidenced by ongoing internal and external investment in digital initiatives."

GUIDANCE:

Lithia Motors sees FY2018 EPS of $9.50, versus the consensus of $9.48. Lithia Motors sees FY2018 revenue of $11.75-12.25 billion, versus the consensus of $12.09 billion.

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