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00:03Lee Auto reported an adjusted second quarter loss of 22 cents per American depository share
00:08on revenue of $3.78 billion, according to Benzinga. Analysts expected a loss of one
00:14cent per share on revenue of $3.70 billion. Revenue fell 15.1% year over year, while vehicle
00:22deliveries declined 11.5% to 98,330. Vehicle margin fell to 9.4% from 19.4%,
00:29a year earlier, and gross margin declined to 11% from 20.1%. Lee Auto expects third quarter revenue
00:36of $3.9 billion to $4.1 billion, below the $5.11 billion analyst estimate. The company expects
00:43deliveries of 95,000 to 100,000 vehicles. Lee Auto shares fell 2.2% to $12 on Wednesday
00:51and touched a new 52-week low, according to Benzinga Pro. For all things money, visit Benzinga.com.
