Report
David Whiston, CFA, CPA, CFE
EUR 101.80 For Business Accounts Only

Lithia Ends 2017 With 29th Straight Record Quarter

We are not changing our moat rating or fair value estimate for Lithia Motors after the dealer reported another strong quarter. As always, we will assess all valuation inputs after incorporating the 10-K filing into our model. Fourth-quarter adjusted earnings per share, excluding a $1.31 tax benefit for remeasuring deferred tax liabilities following the change in U.S. tax law and a $0.10 gain for a store sale, grew 16% year over year to $2.15 and beat consensus of $2.09. Revenue, boosted by acqui...
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
David Whiston, CFA, CPA, CFE

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