Lithia Motors stock set to fall after earnings miss, as gross margin and profit per vehicle drop

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

Shares of Lithia Motors Inc. were indicated down about 4% in premarket trading Wednesday, after the automotive retailer reported fourth-quarter profit and...

Shares of Lithia Motors Inc. LAD were indicated down about 4% in premarket trading Wednesday, after the automotive retailer reported fourth-quarter profit and revenue that missed expectations, as gross margin contracted and vehicle profit per unit fell sharply. Net income declined to $247.7 million, or $9.00 a share, from $291.0 million, or $9.57 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $9.05 was well below the FactSet consensus of $10.10.

LAD were indicated down about 4% in premarket trading Wednesday, after the automotive retailer reported fourth-quarter profit and revenue that missed expectations, as gross margin contracted and vehicle profit per unit fell sharply. Net income declined to $247.7 million, or $9.00 a share, from $291.0 million, or $9.57 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $9.05 was well below the FactSet consensus of $10.10. Revenue grew 10.8% to $6.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 3. in BR

Brasil Últimas Notícias, Brasil Manchetes