UDOATE 2-Car dealer Lithia profit flat, outlook lifts stock

Newswire

(Recasts to reflect share movement) DETROIT, Feb 18 (Reuters) - Car dealership group Lithia Motors Inc. on Friday posted a flat quarterly profit as rising costs offset higher sales, but its shares rose as both earnings and its first-quarter outlook beat Wall Street expectations. The company said fourth-quarter earnings were $9.88 million, or 52 cents per share, excluding the effect from an accounting change, compared with $9.98 million, or 53 cents a share, a year earlier. Analysts ...

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