Welcome to our dedicated page for Lithia Mtrs news (Ticker: LAD), a resource for investors and traders seeking the latest updates and insights on Lithia Mtrs stock.
Lithia Motors, Inc., doing business as Lithia & Driveway (NYSE: LAD), is frequently in the news as it executes its automotive retail and capital allocation strategies. The company describes itself as the largest global automotive retailer, with operations that span the vehicle ownership lifecycle through physical locations, e-commerce platforms, captive finance solutions, fleet management offerings and related services.
News coverage on this page reflects several recurring themes in Lithia & Driveway’s public announcements. The company regularly reports quarterly financial results, including revenue and earnings per share, and often pairs these updates with information about dividends and share repurchase activity. Recent disclosures have highlighted record quarterly revenue, increases in diluted and adjusted diluted earnings per share, and ongoing cash dividends per share.
Another major news category involves acquisitions and network expansion. Lithia & Driveway issues press releases when it acquires dealerships in key markets, such as Subaru, Acura, Hyundai, Genesis, Porsche and Audi stores in regions including the Southeast United States, the Atlanta metro area, the West Palm Beach area, the West Side of Los Angeles and the Greater Toronto Area in Canada. These transactions are typically described in terms of expected annualized revenue contributions, brand mix, network density and strategic fit within its omnichannel ecosystem.
Additional news items cover capital markets activity and governance developments. Examples include announcements of proposed and priced private offerings of senior notes due 2030, amendments to its large syndicated loan agreement, and changes to the board of directors. Together, these updates provide insight into Lithia & Driveway’s financial structure, growth plans and corporate oversight. Investors following LAD news can use this stream of earnings releases, acquisition announcements and financing updates to understand how the company is pursuing its stated vision to modernize personal transportation solutions.
Lithia & Driveway (NYSE:LAD) announced a $750 million increase in its share repurchase authorization, totaling approximately $885 million available for buybacks. This decision follows strong earnings that generated higher-than-expected free cash flows. Additionally, Driveway Finance completed its first asset-backed securities offering, raising $344 million to support its auto loan portfolio growth. Driveway Finance is anticipated to grow from 5% to 15% of overall business, contributing significantly to profitability. The strategic focus remains on capital allocation for acquisitions and investments.
The Presidio Group has advised Qvale Auto Group on the strategic sale of two Audi dealerships in Florida to Lithia Motors (NYSE: LAD). This acquisition is part of Lithia's strategy to expand its dealership brands in the region. Bryan DeBoer, Lithia’s CEO, expressed enthusiasm about entering the Florida market with Audi, given their success in other areas. The Presidio Group highlighted their extensive experience in the automotive retail sector, having completed over 205 transactions worth more than $14 billion.
Lithia & Driveway (NYSE: LAD) announced its entry into South Florida with the acquisition of Audi Fort Lauderdale and Audi Coral Springs. These new dealerships are projected to generate $275 million in annualized revenue, significantly expanding LAD's luxury market presence in the Southeast. This acquisition increases the company's expected annualized revenue for 2021 to $6.5 billion and aligns with their goal to reach $50 billion in revenue and earnings per share by 2025. Financing was secured through existing capacity.
Lithia & Driveway (LAD) has expanded into the North American powersports market by acquiring Pfaff Harley-Davidson in Toronto, Canada. This marks LAD's first motorcycle dealership. The deal is expected to contribute to LAD’s annualized revenue, bringing the total for 2021 to nearly $6.3 billion. The company aims to exceed its target of $50 billion in revenue and $50 earnings per share by 2025.
Lithia & Driveway (NYSE: LAD) reported record-breaking third quarter 2021 results, with revenue soaring 70% to $6.2 billion, and net income rising 95% to $309 million. Earnings per share reached $10.11, a significant increase from $6.86 in Q3 2020. The company also highlighted strong performance in both new and used vehicle retail sales, with increases of 53.9% and 90.2%, respectively. Notably, adjusted net income rose 115% year-over-year. Corporate developments included several acquisitions that are projected to add $1.7 billion in annual revenue.
Lithia & Driveway (NYSE: LAD) will announce its third quarter 2021 earnings on October 20, 2021, before the market opens. A conference call to discuss the results is scheduled for that same day at 10:00 a.m. ET. This growth-focused company aims to consolidate North America’s largest retail sector and is recognized as the second fastest-growing in terms of 10-Year EPS Growth per the Fortune 500. LAD emphasizes consumer experience and operational excellence, promoting brand loyalty through a variety of transportation solutions.
Lithia & Driveway (NYSE: LAD) has partnered with the city of Medford for a five-year naming rights agreement for U.S. Cellular Community Park, set to change its name to "Lithia & Driveway Fields" on January 1, 2022, pending city council approval. The partnership includes a $725,000 donation for turf replacement on 15 fields and promotional efforts to develop a new park logo and enhance signage. The park has generated over $125 million in economic impact since 2008, hosting over 550 tournaments and 55,000 games.
Lithia & Driveway (NYSE: LAD) has expanded its dealership network by acquiring Curry Honda in Chamblee, Georgia, marking its first dealership in the state, and Orange Coast Chrysler Jeep Dodge Ram Fiat in California. These strategic additions are expected to generate $320 million in annualized revenue, bringing LAD's total expected annual revenue for 2021 to $6.2 billion. The acquisitions are part of LAD's goal to exceed its five-year plan to reach $50 billion in revenue and $50 of earnings per share, financed through existing on-balance sheet capacity.
Lithia & Driveway (NYSE: LAD) is expanding into Canada through a partnership with Pfaff Automotive Partners, marking its first international acquisition. Pfaff's 11 locations in the Greater Toronto area are projected to generate over $1 billion in annual revenues. The deal, which also includes Pfaff's leasing business, aligns with LAD's strategy to enhance its digital platforms and improve consumer experiences. This acquisition increases LAD's expected annualized revenue for 2021 to $5.9 billion, positioning the company to surpass its five-year goal of $50 billion in revenue.
Lithia & Driveway (NYSE: LAD) announced its acquisition of Rock Honda, a prominent Honda dealership located in Fontana, CA. This strategic purchase enhances LAD's omni-channel network and is projected to generate $170 million in annual revenues, contributing to an anticipated total of over $4.9 billion in annualized revenue for the year. The acquisition aligns with LAD's ambitious goals to achieve $50 in earnings per share and $50 billion in revenue by 2025. The deal was financed through existing capacity on the balance sheet.