RTTNews | Jul 22, 2020 10:07AM EDT

10:06 Wednesday, July 22, 2020 (RTTNews.com) - Shares of Lithia Motors Inc. (LAD) are currently trading at 201.80, up $27.01 or 15.45%, after hitting a new 52-week high of $204.09 Wednesday morning.

The company, on Wednesday, reported Q2 net income of $78 million or $3.38 per share versus $62 million or $2.63 per share last year.

Adjusted net income was $86 million or $3.72 per share, higher than the previous year's income of $69 million or $2.95 per share.

Total revenues were $2.76 billion, a decline of 14.4%, compared to $3.22 billion generated a year ago.

Analysts polled by Thomson Reuters expected earnings of $1.54 per share on revenue of $2.42 billion for the quarter. Analysts' estimate typically exclude certain special items.

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