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Sep 30, 2024
Lithia Motors Q3 2024 Earnings Report
Lithia Motors reported record revenue and profitability in Financing Operations, demonstrating growth and operational efficiency.
Key Takeaways
Lithia & Driveway (LAD) reported record third-quarter revenue of $9.2 billion, an 11% increase year-over-year. Diluted earnings per share attributable to LAD was $7.80, a decrease of 18% from $9.46 in the same period of 2023. The company's financing operations continued to be profitable.
Total revenues increased 11% compared to the third quarter of 2023.
Aftersales gross profit increased 6.3% on a same-store basis.
Financing operations continued profitability with quarterly income of $1 million.
Repurchased 0.7% of outstanding shares.
Revenue by Segment
Forward Guidance
The document contains forward-looking statements regarding future market conditions, business strategies, network growth, and financial targets. These statements are subject to risks and uncertainties, and actual results may differ materially.
Positive Outlook
- Future market conditions, including anticipated car and other sales levels and the supply of inventory
- Our business strategy and plans, including our achieving our long-term EPS and other financial targets
- The growth, expansion, make-up and success of our network, including our finding accretive acquisitions that meet our target valuations and acquiring additional stores
- Annualized revenues from acquired stores or achieving target returns
- The growth and performance of our Driveway e-commerce home solution and Driveway Finance Corporation (DFC), their synergies and other impacts on our business and our ability to meet Driveway and DFC-related targets
Challenges Ahead
- Future national and local economic and financial conditions, including as a result of regional or global public health issues, inflation and governmental programs, and spending
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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