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. operates Lithia & Driveway as a global automotive retailer serving the vehicle ownership lifecycle through physical dealerships, e-commerce platforms, captive finance solutions, fleet management offerings, and related adjacencies. Company news commonly covers new and used vehicle sales, same-store trends, aftersales performance, Driveway Finance Corporation activity, and capital allocation through dividends and share repurchases.
Recurring developments also include dealership acquisitions across core volume and luxury brands, preferred partner technology deployments for store operations, earnings release schedules, and community or workforce initiatives tied to automotive technician programs.
Lithia Motors & Driveway (LAD) reported record-breaking first quarter results for 2021, with revenue soaring 55% to $4.3 billion compared to $2.8 billion in Q1 2020. Net income per diluted share rose 195% to $5.81, while adjusted net income increased 193% to $5.89. Total vehicle gross profit per unit experienced an 18.7% increase, reaching $4,392. The company also expanded its footprint through strategic acquisitions, projecting $3.1 billion in annualized steady state revenues. A dividend of $0.35 per share was approved, to be paid on May 21, 2021.
Lithia Motors & Driveway (NYSE: LAD) will release its first quarter 2021 earnings before the market opens on April 21, 2021. A conference call to discuss the results is set for the same day at 10:00 a.m. Eastern Time. Interested parties can access the call by phone at (877) 407-8029 or listen live on their website. Lithia Motors is a leading provider of personal transportation solutions in the U.S., recognized for its rapid growth and operational excellence, leveraging data science and an omni-channel strategy to enhance consumer experiences.
The Presidio Group has successfully facilitated the sale of The Suburban Collection's 56 dealership franchises to Lithia Motors Inc. (NYSE: LAD). The Suburban Collection is the 12th largest privately-owned dealership group in the U.S. by revenue and operates primarily in southeastern Michigan. This acquisition is expected to enhance growth opportunities, maintain company culture, and provide new advancements for over 2,250 employees. Lithia is poised to leverage the Suburban Collection's established footprint, bolstering its presence in the Michigan market.
Lithia Motors & Driveway (NYSE: LAD) has acquired The Suburban Collection, expanding its North Central region presence. This acquisition will add $2.4 billion in annualized revenues, enhancing Lithia's total anticipated annual revenue from acquisitions to $6.5 billion. Since launching its five-year growth plan, Lithia has completed six of eight major acquisitions and is exceeding its $4 billion annual revenue target by over 60%. The Suburban Collection operates 56 franchises and significantly boosts Lithia's market position.
Lithia Motors & Driveway (NYSE: LAD) has announced the acquisition of Avondale Nissan in Phoenix, Arizona, enhancing its market presence in the Southwest. This acquisition contributes to LAD's total annualized revenues exceeding $4.75 billion within nine months of its five-year strategic plan. The company is ahead of its target to acquire $4 billion in annualized revenues annually, aiming for a total of $50 billion in revenue and earnings per share of $50. The acquisition is financed through equity and debt offerings from the previous year.
Scott Fink of Fink Automotive Group has sold seven vehicle dealership franchises in the Tampa area to Lithia Motors (NYSE: LAD). This strategic acquisition enhances Lithia's presence in the Southeast, doubling its footprint in the region. Fink Automotive’s dealerships include multiple Hyundai and Genesis locations, which have a solid market reputation. The Presidio Group facilitated the sale, leveraging their expertise in multi-dealership transactions. Fink will continue contributing to the business, ensuring continuity and growth for the dealerships.
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.