Lithia & Driveway (LAD) Reports Record Third Quarter Revenue of $9.7 billion, Achieves 11% Increase in Diluted Earnings Per Share, 17% Increase in Adjusted Diluted Earnings Per Share

Core Insights - Lithia & Driveway (LAD) reported the highest third quarter revenue in company history, with a revenue increase of 5% to $9.7 billion compared to $9.2 billion in Q3 2024, and a diluted earnings per share increase of 11% to $8.61 from $7.73 in the same period [1][2] Financial Performance - Third quarter 2025 net income was $219 million, a slight decrease of 1.1% from $221 million in Q3 2024. However, adjusted net income increased by 9% to $241 million from $221 million in the same period [2] - For the first nine months of 2025, revenues increased by 5% to $28.4 billion compared to $27.0 billion in 2024. Diluted earnings per share for the same period rose by 23% to $26.42 from $21.47 [4][5] Operational Highlights - The company achieved a 7.7% increase in total revenue on a same-store basis compared to Q3 2024, with used retail revenue increasing by 11.8% [13] - The company repurchased approximately 1,312,000 shares at a weighted average price of $312 during Q3 2025, with a total of 2,168,000 shares repurchased year-to-date at an average price of $313 [9] Corporate Development - In September 2025, LAD expanded its network in the Southeast region by acquiring Palm Beach Acura, West Palm Beach Hyundai, and West Palm Beach Genesis, which are expected to add $220 million in annualized revenue [6] - As of September 30, 2025, LAD had acquired $620 million of expected annualized revenues year-to-date [7] Dividend and Shareholder Returns - The Board of Directors approved a dividend of $0.55 per share related to Q3 2025 financial results, expected to be paid on November 21, 2025 [8]