Lithia Motors Q3 Profit Rises - Quick Facts

(RTTNews) - Lithia Motors Inc. (LAD) reported that its third-quarter net income increased to $31.02 million or $1.18 per share, from $23.24 million or $0.90 per share, last year. Adjusted income from continuing operations was $29.6 million, or $1.13 per share for the quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $1.10 for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $1.07 billion, compared to $878.53 million, last year. Analysts expected revenue of $1.05 billion for the quarter.

Lithia announced its Board has approved a dividend of $0.13. Lithia will pay the dividend November 22, 2013 to shareholders of record on November 8, 2013.

The company projects its fourth-quarter earnings of $0.88 to $0.90 per share and full year 2013 earnings of $3.90 to $3.92 per share. Full year total revenues are expected to be in the range of $3.9 billion to $4.0 billion. Analysts expect the company to report fourth-quarter profit per share of $0.90, and full year earnings per share of $3.89. Analysts expect full year revenue of $3.98 billion.

The company projects its first-quarter earnings of $0.91 to $0.93 per share and full-year 2014 earnings of $4.15 to $4.25 per share. Fiscal 2014 total revenues are expected to be in the range of $4.3 billion to $4.4 billion. Analysts expect the company to report fiscal 2014 profit per share of $4.45 on revenue of $4.38 billion.