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Lithia Motors, Inc. - LAD STOCK NEWS

Welcome to our dedicated page for Lithia Motors news (Ticker: LAD), a resource for investors and traders seeking the latest updates and insights on Lithia Motors stock.

Lithia Motors, Inc. (NYSE: LAD) is a prominent automotive retailer in the U.S., known for its extensive network of dealerships and wide array of vehicle brands and services. Headquartered in Medford, Oregon, Lithia Motors was founded in 1946 and has grown significantly since becoming a publicly traded company in 1996. Today, Lithia operates nearly 500 dealerships across the United States, Canada, and the United Kingdom, making it one of the largest global automotive retailers.

The company’s core business revolves around the sale of new and used vehicles, providing related services such as maintenance, auto financing, and parts. In 2023, new-car sales accounted for approximately 49% of its total revenue, which reached a remarkable $31 billion. Lithia Motors is also known for its strategic acquisitions, such as the recent purchase of Pendragon PLC’s UK Motor and Fleet Management divisions, which aims to bolster its presence in the European market.

Lithia's growth strategy is driven by a promote-from-within culture, ongoing employee training, and a commitment to its core values of high standards and entrepreneurial spirit. The company’s success is also reflected in its impressive financial condition, with $1.7 billion in cash and available credit as of the fourth quarter of 2023.

In addition to physical locations, Lithia has developed several online platforms, including Driveway and GreenCars, to offer a seamless and convenient car buying experience. Lithia Motors continues to focus on expanding its dealership network, enhancing customer service, and maximizing shareholder value through strategic acquisitions and operational excellence.

Recent achievements include the highest fourth quarter revenue in company history, a strong balance sheet, and substantial share repurchases approved by the Board of Directors. As the company looks to the future, it remains committed to delivering modern personal transportation solutions and driving its vision forward.

News

Lithia & Driveway Expands in North Central Region with the Purchase of Carousel Motor Group

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Lithia & Driveway (NYSE: LAD) expands its presence in the North Central Region by acquiring Carousel Motor Group, adding over $900 million in annualized revenue. The purchase includes nine stores with premium luxury and domestic brands, strengthening LAD's market position in Minneapolis-St. Paul. This acquisition, along with previous purchases, boosts LAD's total expected annualized revenue to $5.4 billion year-to-date.
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Lithia & Driveway (LAD) Reports Record Fourth Quarter Revenue of $7.7 billion, 10% Increase

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Lithia & Driveway (LAD) reports record fourth-quarter revenue of $7.7 billion, a 10% increase, but sees a 14% decrease in net income per diluted share. The company's full-year 2023 revenue hit a record $31.0 billion, with a decrease in net income per diluted share by 18%. LAD ends the year with a strong balance sheet and plans to pay a dividend of $0.50 per share for the fourth quarter.
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Lithia & Driveway Enters into a Strategic Partnership with Pinewood Technologies and Completes Acquisition for Pendragon PLCs Fleet Management and UK Motor Divisions

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Lithia & Driveway (NYSE: LAD) has completed the acquisition of Pendragon PLC's UK motor and fleet management divisions, forming a strategic partnership with Pinewood Technologies. This expands LAD's digital capabilities and geographic footprint in the UK market. The acquisition is expected to add $4.5B in revenue and strengthen LAD's presence in the UK automotive industry.
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LITHIA & DRIVEWAY NAMES ADAM CHAMBERLAIN CHIEF CUSTOMER OFFICER

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Lithia & Driveway (LAD) has promoted Adam Chamberlain to Chief Customer Officer (CCO), expanding his role to innovate the customer experience across the company's extensive network. Chamberlain's proven track record in creating amazing customer experiences and boosting store performance makes him a perfect fit for this executive role. With his background in leading diverse teams at Aston Martin NA and Mercedes Benz USA, Lithia & Driveway aims to further leverage its size and scale to prioritize customer-centricity and operational performance.
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Lithia & Driveway (LAD) Schedules Release of Fourth Quarter 2023 Results

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Lithia & Driveway (NYSE: LAD) has announced that its fourth quarter 2023 earnings will be released before the market opens on February 14, 2024. A conference call to discuss the earnings results is scheduled for the same day at 10:00 a.m. Eastern Time. Participants can access the call by telephone or listen live on the company's website.
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Lithia & Driveway (LAD) Reports Record Third Quarter Revenue of $8.3 Billion, 13% Increase

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Lithia & Driveway reports highest Q3 revenue in company history, but net income decreases by 21%. Adjusted net income decreases by 17%. Dividend of $0.50 per share approved for Q3 2023.
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Lithia & Driveway (LAD) Schedules Release of Third Quarter 2023 Results

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Lithia & Driveway (NYSE: LAD) to release Q3 2023 earnings on October 25, 2023. Conference call scheduled at 10:00 a.m. ET.
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Lithia & Driveway Improves Terms to 35.4p Per Pendragon Share with Significant Future Upside

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Lithia & Driveway signs revised agreement with Pendragon to enter strategic partnership with Pinewood Technologies and acquire Pendragon's UK motor division and vehicle management division. Total cash consideration payable increased by 42%. Expected dividend to Pendragon shareholders to increase by 49%. Preliminary commitments from major UK automotive retailers to adopt Pinewood DMSSignificant further upside from strategic partnership and North American JV. Planned investment to be financed using existing on-balance sheet capacity.
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Lithia & Driveway to Form Strategic Partnership with Pinewood Technologies and Acquire Pendragon PLC's Fleet Management and UK Motor Divisions

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Lithia & Driveway to acquire Pendragon's UK motor and fleet management divisions in a strategic partnership with Pinewood Technologies, expected to generate over $4.5 billion USD in annual revenues. The acquisition adds a highly profitable fleet management services business to Lithia and expands its brand and geographic footprint. Lithia will also take a 16.7% ownership in Pinewood Technologies. The cash consideration for the acquisition is approximately $350 million USD, with estimated annualized revenues of over $38 billion USD post-completion.
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Lithia & Driveway (LAD) Reports 12% Revenue Increase and Diluted EPS of $10.78

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Lithia & Driveway (NYSE: LAD) reported a record second quarter revenue of $8.1 billion, a 12% increase from 2022. Net income per diluted share was $10.78, a 7% decrease, with adjusted net income at $10.91, a 10% decrease. The company declared a dividend of $0.50 per share for Q2 2023.
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FAQ

What is the current stock price of Lithia Motors (LAD)?

The current stock price of Lithia Motors (LAD) is $305.46 as of September 19, 2024.

What is the market cap of Lithia Motors (LAD)?

The market cap of Lithia Motors (LAD) is approximately 8.0B.

What does Lithia Motors, Inc. do?

Lithia Motors, Inc. is a major automotive retailer that sells new and used vehicles, offers vehicle maintenance, auto financing, and parts through its extensive network of dealerships.

Where is Lithia Motors headquartered?

Lithia Motors is headquartered in Medford, Oregon.

How many dealerships does Lithia Motors operate?

Lithia Motors operates nearly 500 dealerships across the United States, Canada, and the United Kingdom.

What was Lithia Motors' revenue in 2023?

In 2023, Lithia Motors' revenue was $31 billion.

How has Lithia Motors expanded its business?

Lithia Motors has expanded through strategic acquisitions, such as the purchase of Pendragon PLC’s UK Motor and Fleet Management divisions.

What is Lithia Motors' growth strategy?

Lithia Motors' growth strategy includes promoting from within, ongoing employee training, maintaining high standards, and acquiring new dealerships.

What online platforms does Lithia Motors operate?

Lithia Motors operates several online platforms, including Driveway and GreenCars, to offer a seamless car buying experience.

What recent financial achievements has Lithia Motors made?

Recent financial achievements include the highest fourth quarter revenue in company history and substantial share repurchases approved by the Board of Directors.

When was Lithia Motors founded?

Lithia Motors was founded in 1946.

When did Lithia Motors go public?

Lithia Motors went public in 1996.

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Lithia Motors, Inc.

NYSE:LAD

LAD Rankings

#967 Ranked by Market Cap
#1947 Ranked by Dividends

LAD Stock Data

8.02B
26.74M
2.02%
105.62%
8.65%
Auto & Truck Dealerships
Retail-auto Dealers & Gasoline Stations
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United States of America
MEDFORD