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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.
Revenue by Segment
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
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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