Reports Q1 revenue $6.97B, consensus $7.31B. New and used unit growth was 4% and 6%, respectively. Total vehicle gross profit per unit of $5,585, down $1,240. "Our solid first quarter performance demonstrates the durability and diversity of our business model. With a wide selection of products and services for all affordability levels, we are positioned well to meet consumer needs in-store or online through Driveway and other omnichannel store offerings," said Bryan DeBoer, Lithia & Driveway, President and CEO. "As we navigate the current environment, we continue to find accretive acquisitions that expand our network, grow DFC, which will increase our profitability in the long-term, and progress toward the goals in our 2025 Plan. Our strong balance sheet and significant capital engine position us well to further consolidate the industry."
Published first on TheFly
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