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Lithia Motors profit beats consensus by 30.1% in Q4

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Lithia Motors profit beats consensus by 30.1% in Q4

Lithia Motors Inc. said its normalized net income for the fourth quarter was $2.14 per share, compared with the S&P Capital IQ consensus estimate of $1.64 per share.

EPS rose 52.5% year over year from $1.40.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $56.5 million, a gain of 52.2% from $37.1 million in the year-earlier period.

The normalized profit margin climbed to 2.8% from 2.1% in the year-earlier period.

Total revenue climbed 11.2% on an annual basis to $1.99 billion from $1.79 billion, and total operating expenses increased 9.8% year over year to $1.89 billion from $1.72 billion.

Reported net income increased 15.9% on an annual basis to $47.9 million, or $1.80 per share, from $41.3 million, or $1.55 per share.

For the year, the company's normalized net income totaled $7.10 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $6.94.

EPS rose 40.0% from $5.07 in the prior year.

Normalized net income was $188.2 million, an increase of 40.6% from $133.9 million in the prior year.

Full-year total revenue increased 45.9% from the prior-year period to $7.86 billion from $5.39 billion, and total operating expenses grew 45.9% year over year to $7.52 billion from $5.15 billion.

The company said reported net income increased 35.0% year over year to $183.0 million, or $6.91 per share, in the full year, from $135.6 million, or $5.14 per share.