Lithia & Driveway (LAD) Continues Strategic Luxury Network Expansion and is Named to TIME America's Growth Leaders List

Core Insights - Lithia & Driveway has announced the acquisition of Porsche Beverly Hills and Audi Santa Monica, which are expected to generate approximately $450 million in annualized revenue and have the potential to be among the highest volume dealerships globally by brand [1][2]. Group 1: Acquisition Details - The acquisition of Porsche Beverly Hills and Audi Santa Monica is part of Lithia's strategy to enhance its luxury vehicle offerings and expand its dealership ecosystem [2]. - This acquisition brings Lithia's total expected annualized revenue from acquisitions in 2025 to $2.1 billion, showcasing the company's aggressive growth strategy [2]. Group 2: Financial Performance - Lithia & Driveway reported record third-quarter revenue of $9.7 billion, marking a significant achievement in the company's financial performance [6]. - The company achieved an 11% increase in diluted earnings per share and a 17% increase in adjusted diluted earnings per share, indicating strong profitability [6]. Group 3: Recognition and Market Position - Lithia & Driveway has been ranked 165 on TIME's list of America's Growth Leaders of 2026, highlighting its exceptional growth, financial stability, and market performance [2]. - This recognition positions Lithia among the most dynamic and successful companies in the U.S., contributing to innovation and economic progress [2].