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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.
Lithia Motors
Lithia Motors
Lithia Motors Revenue by Segment
Lithia Motors Revenue by Geographic Location
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.comRevenue by Geographic Location
United States Revenue
CapyFin.comUnited Kingdom Revenue
CapyFin.comCanada Revenue
CapyFin.com 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
- The market for dealerships, including the availability of stores to us for an acceptable price
- Changes in customer demand, our relationship with, and the financial and operational stability of, OEMs and other suppliers
- Changes in the competitive landscape, including through technology and our ability to deliver new products, services and customer experiences and a portfolio of in-demand and available vehicles
- Risks associated with our indebtedness, including available borrowing capacity, interest rates, compliance with financial covenants and ability to refinance or repay indebtedness on favorable terms
Revenue & Expenses
Visualization of income flow from segment revenue to net income