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During the quarter, Lithia Motors acquired franchises that will be accretive to its future earnings.
FORBES: Lithia Motors Sees New Vehicle Sales Surge
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Lithia Motors also projected earnings per share between 65 cents and 67 cents for the first quarter of 2013.
FORBES: Lithia Motors Stock Quite The Spritely LAD
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On July 25, Lithia Motors posted a whopping 40.7% rise in second-quarter profits to 76 cents per share, marking its 10th straight positive surprise since March 2010.
FORBES: Lithia Motors Sees New Vehicle Sales Surge
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Lithia Motors logged second-quarter 2012 adjusted earnings of 76 cents per share on July 25, outstripping the Zacks Consensus Estimate by 18.75% and marking the 10th consecutive positive surprise.
FORBES: Lithia Rolling Higher, Still Cheap
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Lithia Motors expects to earn between 74 cents and 76 cents per share in the third quarter of the year, implying an estimated year-over-year growth of 21.3% to 24.6%.
FORBES: Lithia Motors Sees New Vehicle Sales Surge
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Raised Outlook: Management at Lithia Motors expects to continue driving sales throughout 2013, due to new safety norms, technological development, better fuel economy in vehicles, improving consumer credit markets and the amount of older vehicles on the road.
FORBES: Lithia Motors Stock Quite The Spritely LAD