Lithia Motors(US:LAD) Prnewswireยท2025-07-29 09:30Core Insights - Lithia & Driveway reported record second quarter revenue of $9.6 billion, a 4% increase from $9.2 billion in Q2 2024, and a 25% increase in diluted earnings per share (EPS) to $9.87 from $7.87 in the same period last year [1][2][22]. Financial Performance - The second quarter 2025 net income was $258 million, representing a 19.2% increase compared to $217 million in Q2 2024. Adjusted net income for the same period was $268 million, a 24% increase from $217 million in 2024 [3][4]. - For the first half of 2025, revenues increased by 5% to $18.8 billion from $17.8 billion in 2024. Diluted EPS for the first six months was $17.80, a 29% increase from $13.75 in 2024 [5][6]. Corporate Development - In June 2025, Lithia & Driveway expanded its network by acquiring two Mercedes-Benz stores in Tennessee and Mississippi, expected to generate $220 million in annualized revenue. Year-to-date acquisitions are projected to contribute $400 million in expected annualized revenues [7]. Balance Sheet and Cash Flow - The company ended Q2 2025 with approximately $1.3 billion in cash and cash equivalents, marketable securities, and available credit [8]. - Cash flows from operating activities for the first half of 2025 were reported at $331.4 million, compared to $144.0 million in 2024 [27]. Shareholder Returns - The Board of Directors approved a dividend of $0.55 per share for Q2 2025, to be paid on August 22, 2025 [9]. - The company repurchased approximately 387,000 shares at an average price of $306 during Q2 2025, with a total of 791,000 shares repurchased in 2025 at an average price of $316 [10]. Operational Highlights - Total gross profits increased by 4.3% compared to Q2 2024, with aftersales gross profit rising by 11.5% [14]. - Driveway Finance Corporation originated $731 million in loans, with U.S. penetration increasing to 14.8% and net interest margin rising to 4.6% [14].