Loading...
•
Mar 31, 2021
Lithia Motors Q1 2021 Earnings Report
Reported highest first quarter earnings in company history, with revenue up by 55% and EPS by 195%.
Key Takeaways
Lithia Motors & Driveway (LAD) reported record first-quarter earnings, driven by its omni-channel strategy and strength across all business lines. Revenue increased by 55% to $4.3 billion, and net income per diluted share rose by 195% to $5.81.
Total company revenues increased by 54.9%.
New vehicle retail sales increased by 59.7%.
Used vehicle retail sales increased by 54.6%.
F&I per unit increased 13.2% to $1,757.
Lithia Motors
Lithia Motors
Lithia Motors Revenue by Segment
Revenue by Segment
New Vehicle Retail Revenue
CapyFin.comUsed Vehicle Retail Revenue
CapyFin.comUsed Vehicle Wholesale Revenue
CapyFin.comFinance and Insurance Revenue
CapyFin.comAftersales Revenue
CapyFin.comFleet and Other Revenue
CapyFin.com Forward Guidance
Lithia Motors is focused on consolidating the fragmented retail sector and expanding its omni-channel strategy. The company anticipates continued growth through strategic acquisitions and expansion of its Driveway e-commerce platform, aiming for $50 billion in revenue and $50 in earnings per share.
Positive Outlook
- Strategic acquisitions expected to generate $3.1 billion in annualized steady-state revenues.
- Acquisition pipeline is more active than ever.
- Well positioned to continue to aggressively pursue goal of achieving $50 billion in revenue and $50 of earnings per share.
- Ended the first quarter with approximately $1.4 billion in cash and availability on our revolving lines of credit.
- Unfinanced real estate could provide additional liquidity of approximately $552 million.
Challenges Ahead
- Future economic and financial conditions (both nationally and locally), including as a result of the COVID-19 pandemic.
- Changes in customer demand, our relationship with, and the financial and operational stability of, vehicle manufacturers and other suppliers.
- Risks associated with our indebtedness (including available borrowing capacity, compliance with financial covenants and ability to refinance or repay indebtedness on favorable terms).
- The adequacy of our cash flow and earnings and other conditions which may affect our ability to pay our quarterly dividend at the planned level.
- Disruptions to our technology network including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our operating systems, structures, facilities or equipment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income