Lithia Motors Analysts Slash Their Forecasts Following Weak Results

Group 1 - Lithia Motors Inc. reported first-quarter FY25 sales growth of 7.2% year-on-year to $9.18 billion, missing the analyst consensus estimate of $9.26 billion [1] - New vehicle, same-store units grew by 3.6%, with new vehicle retail revenues increasing by 9.1% year-on-year and used vehicle retail revenues climbing by 4.2% [1] - Adjusted EPS of $7.66 missed the consensus estimate of $7.69 [1] Group 2 - President and CEO Bryan DeBoer stated that the company achieved profitable growth year over year in each month of the quarter, growing market share and driving operating efficiencies [2] - Following the earnings announcement, Lithia Motors shares gained 4.7% to trade at $291.30 [2] - Analysts made changes to their price targets, with Wells Fargo lowering the target from $308 to $305 and Goldman Sachs lowering it from $385 to $328 [2]