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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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