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Sep 30, 2021
Lithia Motors Q3 2021 Earnings Report
Lithia Motors reported record revenue, EPS, and adjusted EPS, marking a successful third quarter.
Key Takeaways
Lithia & Driveway (LAD) reported a significant increase in revenue, EPS, and adjusted EPS for the third quarter of 2021. Revenue increased by 70% to $6.2 billion, EPS rose by 47% to $10.11, and adjusted EPS increased by 63% to $11.21. The company's performance was driven by strong growth in both new and used vehicle retail revenues, as well as contributions from e-commerce platforms and acquisitions.
Revenue increased by 70% to $6.2 billion compared to the third quarter of 2020.
Net income per diluted share increased by 47% to $10.11 compared to the third quarter of 2020.
Adjusted net income per diluted share increased by 63% to $11.21 compared to the third quarter of 2020.
Total vehicle gross profit per unit increased by 32.7% to $6,175.
Revenue by Segment
Forward Guidance
The company is focused on achieving $50 billion in revenue and $50 of earnings per share by 2025 through acquisitions and strategic network expansion.
Positive Outlook
- Acquiring $6.2 billion in annualized revenue year-to-date.
- Pacing ahead of schedule toward achieving $50 billion in revenue and $50 of earnings per share by 2025.
- Maintaining a robust pipeline of accretive deals.
- Strategically expanding the network.
- Meeting disciplined return thresholds.
Challenges Ahead
- Future economic and financial conditions, 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.
- 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.
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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