Lithia Motors Q1 Adj $6.11 Misses $7.89 Estimate, Sales $8.56B Beat $8.54B Estimate
Portfolio Pulse from Benzinga Newsdesk
Lithia Motors (NYSE:LAD) reported Q1 adjusted earnings of $6.11 per share, missing the $7.89 estimate, a 27.61% decrease from last year. Sales were $8.56B, slightly above the $8.54B estimate, marking a 22.69% increase from the previous year.
April 24, 2024 | 9:03 am
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Lithia Motors reported a significant miss in Q1 adjusted earnings per share but slightly beat sales estimates, with a notable year-over-year sales increase.
The miss in earnings per share (EPS) is significant and likely to negatively impact investor sentiment in the short term, despite the slight beat on sales estimates. The decrease in EPS compared to the same period last year further compounds the potential negative impact on the stock price.
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