Lithia Motors leaps, Q1 results trump Street’s forecast
Shares of Lithia Motors, Inc. (NYSE:LAD) are treading higher midday after the automotive franchises operator reported first-quarter results above analysts’ estimates after Tuesday’s close. The new and used vehicle retailer also issued second-quarter and full year guidance above the consensus on Wall Street, noting that with a “stronger selling season upon us, we feel well positioned to perform going forward.”
Shares jumped 19%, or $1.51, to $9.41 at 11:50 a.m. ET. For detailed price information and recent news stories about Lithia Motors, click LAD.
