Lithia Mtrs Inc Stock Price, News & Analysis

Lithia Motors & Driveway (NYSE: LAD) has acquired five Florida locations, enhancing its presence in the greater Tampa market. This acquisition, which includes the largest-volume Hyundai dealer in the U.S., is projected to add $430 million in annualized revenue. With this move, LAD's revenue in the Southeast region surpasses $1 billion, contributing to a total of $4 billion in expected annualized revenue acquired during its five-year plan, four months ahead of schedule. The deal was financed through prior equity and debt offerings.

Lithia Motors & Driveway (NYSE: LAD) will host a virtual investor and analyst day on March 10, 2021, starting at 11:00 AM ET. The event features key presentations from Bryan DeBoer, President and CEO, and George Hines, Chief Innovation and Technology Officer. The schedule includes a strategic overview, product demonstrations, competitive advantages, and closing remarks. Registration is available on Lithia’s investor website, and a replay will be accessible for one year post-event. Lithia is recognized as a leading provider of personal transportation solutions and is among the fastest-growing companies in the Fortune 500.

Lithia Motors & Driveway (NYSE: LAD) has accelerated the conversion of its Class B common stock into Class A shares, completing the process five years earlier than scheduled, effective February 23, 2021. This shift eliminates the dual-class structure, offering equal economic value and voting power to all outstanding shares. This decision, credited to founder Sidney DeBoer, reaffirms the company's commitment to high performance and strong corporate governance.

Lithia Motors & Driveway (NYSE: LAD) has acquired two stores from Fields Auto Group in Florida, including a Land Rover and a Chrysler Jeep Dodge Ram location. This acquisition enhances their presence in the Southeast Region. Additionally, the company opened a new Infiniti location in Downtown Los Angeles, expected to generate $40 million in annualized revenue. The total projected annualized revenue from these acquisitions is approximately $200 million, contributing to Lithia's goal of reaching $50 billion in revenue as part of their five-year plan.

Lithia Motors & Driveway (NYSE: LAD) reported record fourth quarter results, with revenue of $3.9 billion, a 21% increase year-over-year. Net income per diluted share reached $7.02, up 143% from $2.89 in Q4 2019. Adjusted net income was $5.46, reflecting an 85% increase. The company’s full year revenue rose 4% to a record $13.1 billion, with net income up 73% to $470 million. Recent acquisitions are expected to provide an additional $3.5 billion in annualized revenue. A dividend of $0.31 per share is set for distribution on March 26, 2021.

Lithia Motors & Driveway (NYSE: LAD) announced it will release its fourth quarter and full year 2020 earnings on February 3, 2021, before market opening. A conference call will follow at 10:00 a.m. Eastern Time for discussing the results, accessible by phone at (877) 407-8029 or via live webcast at www.lithiainvestorrelations.com. Lithia & Driveway is recognized among the fastest-growing companies in the Fortune 500, focusing on personal transportation solutions and leveraging data science to enhance customer experience.

Lithia Motors (NYSE: LAD) celebrates its recognition, with ten of its dealerships named among the ‘Best Dealerships to Work For in 2020’ by Automotive News. DCH Millburn Audi in New Jersey secured the top spot, marking its ninth consecutive nomination. The awards, based on employee satisfaction surveys, highlight Lithia's commitment to a positive workplace culture. Seven of the recognized stores have won this accolade multiple times, showcasing Lithia's operational excellence and employee retention strategies.

Lithia Motors & Driveway (NYSE: LAD) has acquired Ramsey Subaru and Mazda, Iowa's top Subaru and Mazda dealerships, boosting its presence in the North Central Region. This strategic acquisition is projected to generate an additional $100 million in revenue, expanding Lithia's total network to $3.5 billion in annualized revenue. The financing for this acquisition was accomplished through recent equity and debt offerings. President Bryan DeBoer highlighted the enhancement of customer service and corporate responsibility initiatives from the newly acquired dealerships.

Lithia & Driveway (NYSE: LAD) has acquired Sterling Luxury Group, including franchises for BMW, Mini, Rolls-Royce, Lamborghini, and McLaren in Virginia's affluent Loudoun County. The acquisition expands LAD's brand portfolio and marks its entry into the Mid-Atlantic, adding an anticipated $225 million in annualized revenue and increasing total revenue growth to $3.4 billion. This strategic move aligns with LAD's five-year plan to enhance its omni-channel strategy and customer service capabilities across the United States.