Lithia Motors (LAD) came out with quarterly earnings of $8.21 per share, beating the Zacks Consensus Estimate of $7.59 per share. This compares to earnings of $9.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.17%. A quarter ago, it was expected that this auto dealership chain would post earnings of $7.09 per share when it actually produced earnings of $7.87, delivering a surprise of 11%.Over the last four quarters, the c ...

Announces Dividend of $0.53 per Share for Third QuarterMEDFORD, Ore., Oct. 23, 2024 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today reported the highest third quarter revenue in company history and the second profitable quarter for Financing Operations, which includes Driveway Finance Corporation.Third quarter 2024 revenue increased 11% to $9.2 billion from $8.3 billion in the third quarter of 2023.Third quarter 2024 diluted earnings per share attributable to LAD was $7.80, an 18% decrease from $9.46 pe ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Lithia Motors (LAD) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 23, 2024, might help the stock move higher if these key numbers are better tha ...

MEDFORD, Ore., Oct. 1, 2024 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today announced its third quarter 2024 earnings will be released before the market opens on Wednesday, October 23, 2024. A conference call to discuss the earnings results is scheduled for the same day at 10:00 a.m. Eastern Time. How to Participate The conference call may be accessed by telephone at (877) 407-8029. To listen live on our website, or for replay, visit investors.lithiadriveway.com and click on quarterly earnings. About Li ...

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Lithia Motors (LAD) shares soared 6.7% in the last trading session to close at $305.46. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.1% loss over the past four weeks. Lithia shares have gained since the company acquired three Duval Motor Company stores last week, marking its foray into the Florida market. These newly acquired dealerships are expected to generate more than $200 million in annual revenues. This move to expand ...

MEDFORD, Ore., Sept. 10, 2024 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced today it has continued to expand its footprint in the highly profitable U.S. Southeast Region with the purchase of three stores from the Duval Motor Company in Jacksonville and Gainesville, Florida. Combined, these newly acquired Acura, Honda, and Subaru stores are projected to generate over $200 million in annualized revenue. These high-performing Duval stores mark LAD's debut in these markets. These additions will streng ...

Lithia Motors (LAD) reported second-quarter 2024 adjusted earnings per share of $7.87, which declined from the prior-year quarter's $10.91 but surpassed the Zacks Consensus Estimate of $7.09. Higher-than-expected revenues from used vehicle retail, service, body and parts, and fleet and others segments led to the beat. The auto retailer clocked revenues of $9.23 billion, up 14% year over year, and surpassed the Zacks Consensus Estimate by 0.31%. Segmental Performance New vehicle retail revenues increased 9.7 ...

Financial Data and Key Metrics Changes - Adjusted diluted earnings per share (EPS) reached $7.87, a 30% sequential improvement despite the CDK outage, although it represents a 28% decrease from Q2 of the previous year [5][10] - Total revenues grew to $9.2 billion, up 14% from Q2 of last year [8] - Adjusted SG&A as a percentage of gross profit was 67.9%, reflecting the impact of the CDK event [24] Business Line Data and Key Metrics Changes - Vehicle operations faced headwinds due to the CDK outage, with same-store revenues down 6.4% and gross profits declining 12.5% [8] - Financing operations produced income of $7.2 million, compared to a loss of $18.7 million in the same quarter last year, achieving profitability earlier than expected [23][24] - Aftersales business declined by 1.4%, primarily due to the CDK outage, which impacted aftersales by almost 40% during the outage period [9] Market Data and Key Metrics Changes - Total vehicle gross profit per unit remained stable at $47.62, down $951 compared to the same period last year [9] - The company reported a 2% increase in total monthly unique visitors (MUVs) year-over-year, reaching $12 million per month, with GreenCars contributing over 900,000 MUVs [11] Company Strategy and Development Direction - The company is focused on growing market share and operational efficiencies through a unique mobility ecosystem, leveraging strategic partnerships and acquisitions [5][7] - A minority stake was purchased in Wheels, a fleet management company, which is expected to create transformative synergies between retail and fleet platforms [7][11] - The company aims to achieve $2 of EPS for every $1 billion in revenue, with a target of $40 billion to $50 billion in sales in the mid-term (2 to 4 years) [15][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to double the anticipated $150 million in annualized SG&A cost savings, primarily driven by inventory reductions [7] - The company remains optimistic about operational performance and expects to realize significant benefits from the 60-day plan initiated to improve profitability [31] - Management acknowledged the challenges posed by higher interest rates but indicated that the company is well-positioned to navigate these conditions [52] Other Important Information - The company reported free cash flows of $127 million, impacted by declining EBITDA and increased capital expenditures [26] - The company has adjusted its capital allocation strategy to balance acquisitions and share buybacks, repurchasing 2.9% of outstanding shares during the quarter [15][26] Q&A Session Summary Question: Clarification on EPS increase - Management clarified that the $1.10 impact from the CDK outage adjusted the EPS tracking, indicating a nearly 50% increase in sequential EPS without the outage [29][30] Question: SG&A and cost reduction plan - Management indicated that SG&A as a percentage of gross profit would likely remain around current levels in Q3, with further reductions expected later in the year [33][35] Question: Parts and services run rate - Pre-CDK event, parts and services were tracking in the mid to low single digits on a same-store sales basis, with some recovery expected in July [36][38] Question: New car GPU outlook - Management discussed the potential for new car GPUs to normalize, indicating a glide path that includes both new and used vehicle profitability [39][41] Question: Fleet management synergies - Management explained that the partnership with Wheels would enhance service levels and create opportunities for selling new vehicles to fleet customers [47][49] Question: Interest rates impact - Management acknowledged that while higher interest rates have impacted consumer affordability, there is potential for benefits as rates decrease [52] Question: Share buyback strategy - Management emphasized a balanced approach to capital allocation, focusing on opportunistic purchases based on market conditions [54][56]

Investor Presentation JULY 2024 UPDATED 8/1/24 2 NYSE: LADDisclosure Forward-Looking Statements Certain statements in this presentation, and at times made by our officers and representatives, constitute forwardlooking 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", " ...