福特汽车 （F） 与相关官员讨论了允许其在美国与中国电动汽车公司建立合作伙伴关系的事宜。与此 同时，通用汽车 （GM） 表示反对，而经销商利西亚汽车 （LAD） 则指出，销售新的中国品牌汽车面 临美国特许经营法规方面的障碍。 责任编辑：张俊 SF065 福特汽车 （F） 与相关官员讨论了允许其在美国与中国电动汽车公司建立合作伙伴关系的事宜。与此 同时，通用汽车 （GM） 表示反对，而经销商利西亚汽车 （LAD） 则指出，销售新的中国品牌汽车面 临美国特许经营法规方面的障碍。 责任编辑：张俊 SF065 ...

Core Viewpoint - Lithia & Driveway is the largest global automotive retailer, focusing on new and used vehicle sales and aftersales services, while pursuing strategic growth and acquisitions to maintain its leadership position [1] Financial Performance - The company reported record full-year revenues of $37.63 billion, representing a 4% increase from the previous year [2][6] - In the fourth quarter, revenues reached $9.20 billion, with a 6.1% growth in used vehicle revenue and a 4.7% increase in used retail units on a same-store basis [3] - Aftersales revenue increased by 10.9%, contributing to a 9.8% rise in gross profit on a same-store basis [3] Earnings and Shareholder Returns - The fourth quarter diluted earnings per share were reported at $5.72, with adjusted diluted earnings per share at $6.74 [4] - In 2025, the company repurchased $947 million worth of shares, accounting for 11.4% of outstanding shares, including 3.8% in the fourth quarter [5] Strategic Initiatives - Lithia & Driveway made strategic acquisitions totaling $2.4 billion in annual revenue, emphasizing strong growth in used vehicles and aftersales despite challenges in new vehicle sales [5][6] - The financing operations achieved a record quarterly income of $23 million, a significant increase of $19 million from the previous year, with a penetration rate of 15% and an average FICO score of 751 [4]

Core Insights - Lithia Motors (LAD) reported fourth-quarter 2025 adjusted earnings per share of $6.74, a decrease from $7.79 in the prior-year quarter, missing the Zacks Consensus Estimate of $8.09. Revenues were flat year over year at $9.2 billion, also missing the estimate of $9.53 billion [1][10]. Segmental Performance - New vehicle revenues declined by 5.7% year over year to $4.63 billion, missing the estimate of $4.71 billion, with new vehicle units sold down 8.1% to 97,424 units, although this was above the estimate of 95,435 units [2]. - The average selling price (ASP) of new vehicles increased to $48,239 from $47,478 in the prior-year quarter but fell short of the estimate of $49,401. The gross margin in this segment contracted by 70 basis points to 5.9%, while the cost of sales decreased by 5% year over year to $4.36 billion [3]. - Used vehicle revenues rose by 6.7% year over year to $3.2 billion, surpassing the estimate of $2.68 billion, driven by higher unit sales and ASP. Used vehicle retail units sold increased by 4.8% to 99,905 units, exceeding the expectation of 94,261 units. The ASP for used vehicles was $28,533, up 3.1% year over year, also beating the estimate of $28,413. The gross margin in this segment decreased by 60 basis points to 4.7% [4]. - Finance and insurance revenues increased by 0.3% to $356.9 million, beating the estimate of $347 million. Aftersales revenues totaled $1.04 billion, up 11.4% year over year, surpassing the estimate of $972.1 million. Same-store new vehicle revenues fell by 6.6%, while same-store used vehicle sales rose by 6.1% [5]. Financial Overview - Cost of sales increased by 0.3% year over year. SG&A expenses amounted to $979.3 million, up 8.6% year over year. Adjusted SG&A as a percentage of gross profit rose to 71.4% from 66.3% in the prior-year quarter. Both pretax and net profit margins declined from the previous year [6]. - The company announced a dividend of 55 cents to be paid on March 20, 2026, to shareholders of record as of March 6, 2026. In the fourth quarter of 2025, Lithia repurchased nearly 917,427 shares at an average price of $314, with approximately $621.6 million remaining under its buyback authorization [7]. - As of December 31, 2025, Lithia had cash and cash equivalents of $341.8 million, down from $402.2 million a year earlier. Long-term debt increased to $7.27 billion from $6.12 billion [8]. Market Position - Lithia currently holds a Zacks Rank 3 (Hold). Other better-ranked stocks in the auto sector include Ford Motor (F), Modine Manufacturing (MOD), and PHINIA Inc. (PHIN), each with a Zacks Rank 1 (Strong Buy) [9].

Performance varied by brand with luxury brand revenue down 12.7% year over year, partially due to the difficult prior-year comp. Domestic and import brands were also soft, particularly late in the quarter when sales promotions did not materialize.During the quarter, our same-store revenues were essentially flat, and gross profit was down 1.2%, reflecting strong execution relative to the market. Total vehicle GPU was $3,946, down $258 year over year, in line with industry-wide compression in both new and use ...

Lithia Motors (NYSE:LAD) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Company ParticipantsBret Jordan - Managing DirectorBryan DeBoer - President and CEOChuck Lietz - SVP of FinanceDaniela Haigian - VP of Equity ResearchJardon Jaramillo - Senior Director of FinanceJeff Lick - Managing DirectorRajat Gupta - VPTina Miller - SVP and CFOConference Call ParticipantsJohn Babcock - AnalystJohn Saager - Senior Equity Research AnalystMark Delaney - Managing Director and Senior Equity AnalystMichael Ward - Fin ...

Lithia Motors (NYSE:LAD) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Company ParticipantsBret Jordan - Managing DirectorBryan DeBoer - President and CEOChuck Lietz - SVP of FinanceDaniela Haigian - VP of Equity ResearchJardon Jaramillo - Senior Director of FinanceJeff Lick - Managing DirectorRajat Gupta - VPTina Miller - SVP and CFOConference Call ParticipantsJohn Babcock - AnalystJohn Saager - Senior Equity Research AnalystMark Delaney - Managing Director and Senior Equity AnalystMichael Ward - Fin ...

Lithia Motors (NYSE:LAD) Q4 2025 Earnings call February 11, 2026 10:00 AM ET Speaker2Greetings and welcome to the Lithia & Driveway 2025 fourth quarter earnings conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce y ...

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Investor Presentation Updated 2/11/26 FEBRUARY 2026 Disclosure Forward-Looking Statements Certain statements in this presentation, and at times made by our officers and representatives, constitute forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Generally, you can identify forward- looking statements by terms such as "project," "outlook," "target," "may," "will," "would," "should," "seek," "expect," "plan," "intend," "fore ...

Revenue Performance - Fourth quarter 2025 revenue increased 0.3% to $9.20 billion from $9.17 billion in the fourth quarter of 2024[4] - Full year 2025 revenue reached a record $37.63 billion, a 4.0% increase from $36.19 billion in 2024[6] - Total revenues for Q4 2025 were $9,197.8 million, a slight increase of 0.3% compared to $9,173.5 million in Q4 2024[22] - Total revenues for the three months ended December 31, 2025, were $8,839.8 million, a decrease of 0.5% compared to $8,884.4 million in 2024[24] Earnings and Profitability - Fourth quarter 2025 diluted earnings per share decreased 28% to $5.72 from $7.98 per share in the fourth quarter of 2024[4] - Full year 2025 net income increased 1% to $825.9 million from $816.3 million in 2024[7] - Net income attributable to LAD for Q4 2025 was $136.8 million, down 35.7% from $212.7 million in Q4 2024[22] - Net income for the twelve months ended December 31, 2025, was $854.7 million, compared to $790.4 million in 2024, representing an increase of 8.1%[31] - Net income for the three months ended December 31, 2025, was $137.9 million, a decrease of 35.5% compared to $213.7 million in 2024[32] Vehicle Sales - Used vehicle revenue increased 6.1% and used retail units increased 4.7% on a same-store basis in the fourth quarter[8] - New vehicle revenues decreased by 5.7% to $4,626.7 million in Q4 2025, while used vehicle revenues increased by 6.7% to $3,179.2 million[22] - Unit sales of new vehicles fell by 8.1% to 97,424 in Q4 2025, while used vehicle retail sales increased by 4.8% to 99,905[23] Expenses and Margins - SG&A expenses as a percentage of revenue increased to 10.7% in Q4 2025 from 9.9% in Q4 2024[23] - The net profit margin for Q4 2025 was 1.8%, down from 2.2% in Q4 2024[23] - Total selling, general and administrative expenses for the twelve months ended December 31, 2025, were $3,941.3 million, an increase of 5.0% from $3,747.3 million in 2024[31] Cash Flow and Assets - Cash, restricted cash, and cash equivalents at the end of the period were $341.8 million, down from $402.2 million in 2024[27] - Total assets increased to $25,107.2 million as of December 31, 2025, compared to $23,122.6 million in 2024[27] - Adjusted cash flow from operations for the twelve months ended December 31, 2025, was $1,291.3 million, compared to $1,246.8 million in 2024[29] Debt and Financing - Total debt rose by 11.7% to $14,821.9 million as of December 31, 2025, compared to $13,265.7 million in 2024[33] - Net debt increased by 17.4% to $4,864.1 million from $4,142.1 million in 2024[33] - Net debt to Adjusted EBITDA ratio was 2.92x for the twelve months ended December 31, 2025, compared to 2.71x in 2024[33] Other Financial Metrics - The company repurchased $947 million of shares, representing 11.4% of shares outstanding in 2025[8] - The Board of Directors approved a dividend of $0.55 per share related to fourth quarter 2025 financial results[11] - Adjusted EBITDA for the twelve months ended December 31, 2025, increased by 9.0% to $1,666.4 million from $1,528.2 million in 2024[32]