Lithia Motors surrenders gains as lower same-store sales overshadow Q3 beat
FROM THE WIRE · SEEKINGALPHA.COM
[Parked cars] MarioGuti/iStock via Getty Images * Lithia Motors (LAD [https://seekingalpha.com/symbol/LAD]) has surrendered its post-earnings gain and is in negative turf as Wall Street reconsiders the 1.4% decline in same-store revenue and lower unit volumes per store, which…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishLower same-store revenue and unit volumes per store outweigh the better-than-expected quarterly profit and revenue.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Lithia Motors has surrendered its post-earnings gain and is now in negative territory.
- 02Same-store revenue fell 1.4% and lower unit volumes per store overshadowed the results.
- 03In the third quarter the company earned $10.34 per share on revenue of $9.95B, both beating estimates.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets