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Dec 31, 2023
Lithia Motors Q4 2023 Earnings Report
Lithia Motors reported record Q4 revenue with a 10% increase, but net income per diluted share decreased by 14%.
Key Takeaways
Lithia & Driveway (LAD) reported record fourth-quarter revenue of $7.7 billion, a 10% increase compared to the fourth quarter of 2022. However, net income attributable to LAD per diluted share decreased by 14% to $7.74. The company's service, body, and parts revenues increased by 14%.
Total revenues increased by 10%.
New vehicle same store units grew by 9.6%.
Service, body, and parts revenues increased 14%.
Driveway Finance Corporation (DFC) originated over $428 million in loans in Q4.
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
Lithia & Driveway's forward guidance focuses on executing their long-term growth strategy, leveraging their financial position and diversified network to drive results and return capital to shareholders.
Positive Outlook
- Team is excited to turn efforts to even higher levels of execution in 2024.
- Key components of long-term growth strategy are in place.
- Financial position is strong.
- Diversity and reach of network.
- Positions them to continue to positively drive results and return capital to shareholders.
Challenges Ahead
- Future market conditions, including anticipated car and other sales levels and the supply of inventory
- 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