Lithia Motors (NYSE: LAD) reported earnings on Oct. 24. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Sep. 30 (Q3), Lithia Motors beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share expanded significantly.

Gross margins dropped, operating margins increased, net margins expanded.

Revenue details
 Lithia Motors logged revenue of $888.4 million. The seven analysts polled by S&P Capital IQ foresaw a top line of $864.3 million on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $737.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.90. The eight earnings estimates compiled by S&P Capital IQ forecast $0.77 per share. GAAP EPS of $0.90 for Q3 were 45% higher than the prior-year quarter's $0.62 per share. (The prior-year quarter included $0.01 per share in earnings from discontinued operations.)

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 16.2%, 60 basis points worse than the prior-year quarter. Operating margin was 4.9%, 60 basis points better than the prior-year quarter. Net margin was 2.6%, 40 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $819.3 million. On the bottom line, the average EPS estimate is $0.63.

Next year's average estimate for revenue is $3.29 billion. The average EPS estimate is $2.81.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lithia Motors is buy, with an average price target of $36.89.

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