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Lithia Motors
🇺🇸 NYSE:LAD
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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.

Total Revenue
$6.17B
Previous year: $3.62B
+70.4%
EPS
$11.2
Previous year: $6.89
+62.7%
F&I Avg. Gross Profit
$2.07K
Previous year: $1.65K
+25.8%
Total Vehicle Avg. Gross Profit
$6.18K
Previous year: $4.66K
+32.7%
Gross Profit
$1.19B
Previous year: $652M
+82.5%
Cash and Equivalents
$138M
Previous year: $57.1M
+141.3%
Free Cash Flow
$645M
Previous year: -$36.7M
-1856.4%
Total Assets
$10.2B
Previous year: $6.4B
+59.6%

Lithia Motors

Lithia Motors

Lithia Motors 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.
  • 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

Company Overview

Full financial data and analysis

View Lithia Motors