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Jun 30, 2021
Lithia Motors Q2 2021 Earnings Report
Lithia Motors reported its highest second quarter earnings in company history, driven by a 118% increase in revenue and a 218% increase in EPS.
Key Takeaways
Lithia & Driveway (LAD) reported record second-quarter results, with revenue increasing by 118% to $6.0 billion and earnings per share rising by 218% to $10.75. The company's performance was boosted by a robust retail environment and strong growth across new and used vehicle sales, as well as F&I and service, body, and parts revenues. Strategic acquisitions are expected to contribute $3.7 billion in annualized revenue.
Total company revenues increased by 117.8%.
New vehicle retail sales increased by 130.0%.
Used vehicle retail sales increased by 95.7%.
F&I per unit increased 16.4% to $1,854.
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 profitably consolidating the largest retail sector in the country and continues to lead the industry's consolidation. Combined with Driveway's e-commerce in-home experiences further accelerates the massive regenerating capital engine to create a unique and compelling high-growth strategy that provides transportation solutions wherever, whenever, and however consumers desire.
Positive Outlook
- Future market conditions, including anticipated car sales levels
- Anticipated impacts of the continued COVID-19 pandemic on the U.S. and local economies in which we operate, our business operations and consumer demand
- Continuation of our sales and services, including in-store appointments and home deliveries
- Expected growth from our e-commerce home solutions and digital strategies
- Expected operating results, such as improved store performance
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