Lithia & Driveway (LAD) Expands Footprint in the Mid-Atlantic Region

Rhea-AI Summary

Lithia & Driveway (LAD) has announced the acquisition of Stohlman Subaru in Sterling, Virginia, expanding its presence in the Mid-Atlantic Region. The acquisition is expected to generate $80 million in annualized revenue and was financed using existing on-balance sheet capacity.

Additionally, since the end of the third quarter, LAD has deployed $107 million to repurchase shares at an average price of $372. The company still has approximately $454 million available under its current share repurchase authorization.

Positive

• Acquisition adds $80 million in expected annualized revenue
• Strategic expansion in the strong performing Mid-Atlantic Region
• Active share repurchase program with $107 million already deployed
• Substantial remaining buyback capacity of $454 million

Negative

• None.

MEDFORD, Ore., Jan. 28, 2025 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced today the acquisition of Stohlman Subaru in Sterling, Virginia growing its presence in the strong performing Mid-Atlantic Region.

"We are thrilled to welcome the talented Stohlman Subaru team to the Lithia & Driveway family. This acquisition strengthens our presence in the dynamic Mid-Atlantic market and reflects our continued focus on creating seamless experiences across our omnichannel platform. We look forward to creating customer loyalty and continuing to unlock the potential of the LAD platform alongside the Stohlman team," said Bryan DeBoer, Lithia & Driveway President and CEO."

This acquisition adds expected annualized revenue of $80 million and was financed using existing on-balance sheet capacity.

Update on Capital Allocation

Since the end of the third quarter, LAD has also deployed $107 million to repurchase shares at an average price of $372. Under the current share repurchase authorization, approximately $454 million remains available.

About Lithia & Driveway (LAD)

Lithia & Driveway (NYSE: LAD) is one of the largest global automotive retailers providing a wide array of products and services throughout the vehicle ownership lifecycle. Convenient and hassle-free experiences are offered through our comprehensive network of physical locations, ecommerce platforms, captive finance solutions and other synergistic adjacencies. We deliver consistent, low-risk, and profitable growth in a massive and unconsolidated industry. Our highly diversified and competitively differentiated design provides us the flexibility and scale to pursue our vision to modernize personal transportation solutions wherever, whenever, and however consumers desire.

Sites
www.lithia.com
www.investors.lithiadriveway.com
www.lithiacareers.com
www.driveway.com
www.greencars.com
www.drivewayfinancecorp.com

Lithia & Driveway on Facebook
https://www.facebook.com/LithiaMotors
https://www.facebook.com/DrivewayHQ

Lithia & Driveway on X
https://x.com/lithiamotors
https://x.com/DrivewayHQ
https://x.com/GreenCarsHQ

Lithia & Driveway on LinkedIn
https://www.linkedin.com/company/lithia-motors/

Lithia & Driveway on YouTube
https://www.youtube.com/@Lithia_Motors/featured

 

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SOURCE Lithia Motors, Inc.

FAQ

How much revenue will LAD's Stohlman Subaru acquisition generate annually?

The Stohlman Subaru acquisition is expected to generate $80 million in annualized revenue for LAD.

How much has LAD spent on share repurchases since Q3 2024?

LAD has spent $107 million on share repurchases since the end of the third quarter, at an average price of $372 per share.

What is the remaining amount in LAD's share repurchase authorization?

LAD has approximately $454 million remaining available under its current share repurchase authorization.

Where is LAD's newest dealership acquisition located?

LAD's newest acquisition, Stohlman Subaru, is located in Sterling, Virginia, in the Mid-Atlantic Region.