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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.
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
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.
- 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