Lithia Motors ( (LAD) ) has released its Q3 earnings. Here is a breakdown of the information Lithia Motors presented to its investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Lithia & Driveway (LAD), the largest global automotive retailer, offers a comprehensive range of products and services throughout the vehicle ownership lifecycle, leveraging its extensive network of physical locations and e-commerce platforms to modernize personal transportation solutions.
Lithia & Driveway has reported record third-quarter revenue of $9.7 billion, marking a 5% increase from the previous year, alongside an 11% rise in diluted earnings per share. The company also announced a dividend of $0.55 per share for the third quarter.
Key financial highlights include a 17% increase in adjusted diluted earnings per share and a 9% rise in adjusted net income. The company achieved a 7.7% increase in total revenue on a same-store basis and an 11.8% increase in used retail revenue. Lithia & Driveway also repurchased 5.1% of its outstanding shares during the quarter.
The company expanded its network with acquisitions in the Southeast region, adding $220 million in expected annualized revenue. Lithia & Driveway ended the quarter with $1.9 billion in cash and equivalents, maintaining a strong balance sheet.
Looking ahead, Lithia & Driveway remains focused on operational excellence and strategic growth, positioning itself to unlock the full potential of its omnichannel ecosystem while continuing to scale profitably.