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Jun 30, 2020
Lithia Motors Q2 2020 Earnings Report
Lithia Motors reported its highest second quarter net income in the company's history, driven by strong sequential improvements and responsiveness to the current environment.
Key Takeaways
Lithia Motors reported a revenue of $2.8 billion for Q2 2020. Net income increased by 26% to $78 million, with diluted earnings per share rising by 29% to $3.38. Adjusted diluted earnings per share reached $3.72, a 26% increase. The company's strong performance was attributed to improvements throughout the quarter and the activation of e-commerce digital home solutions.
Highest quarterly adjusted earnings per share in company history.
Same store used vehicle retail sales increased 0.5%.
Same store F&I per unit increased 9.4% to $1,590.
Same store total gross profit per unit increased 11.4% to $4,030.
Revenue by Segment
Forward Guidance
The acquisition market is robust and Lithia Motors is accelerating the build out of its coast-to-coast network, enabling it to serve customers wherever, whenever, and however they desire. The company's balance sheet is in the strongest position in its history and it is well positioned to accelerate its plan to reach 5% national market share.
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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