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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.
Revenue by Segment
Revenue by Geographic Location
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
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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