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 (LAD) operates one of North America's largest automotive retail networks, combining vehicle sales, financing solutions, and service operations across 300+ locations. This page serves as the definitive source for verified corporate developments, providing stakeholders with timely access to earnings announcements, strategic acquisitions, and operational updates.
Investors and industry observers will find curated press releases detailing dealership expansions, financial performance metrics, and leadership initiatives. Our aggregation includes official statements on service network growth, technology implementations, and partnership formations within the automotive ecosystem.
All content undergoes rigorous verification to ensure alignment with SEC compliance standards and corporate disclosure best practices. Bookmark this resource for efficient tracking of LAD's market positioning, inventory strategy developments, and customer experience enhancements across its omnichannel platform.
Lithia & Driveway (NYSE: LAD) has expanded its footprint into Colorado by acquiring Ferrari of Denver, the company's first Ferrari store. This location aims to enhance customer experiences and is the only Ferrari dealership in the greater Rocky Mountains region. The acquisition is expected to generate $75 million in annualized revenue, contributing to LAD's goal of $50 billion in revenue by 2025. The acquisition aligns with LAD's strategy to grow its luxury vehicle offerings and customer loyalty.
Lithia & Driveway (NYSE: LAD) announced its expansion in Texas with the acquisition of Meador Chrysler, Dodge, Jeep, Ram, the second largest store of its kind in the Dallas/Fort Worth area. This strategic move is expected to generate over $200 million in annualized revenue, contributing to a total of over $3.3 billion in expected annual revenue from acquisitions in 2022. This acquisition aligns with LAD's 2025 Plan to achieve $50 billion in revenue and $55 to $60 in EPS, signaling robust growth potential.
Lithia & Driveway (NYSE: LAD) has appointed Adam Chamberlain as the new Regional President of Operations. Chamberlain, formerly with Aston Martin NA, will oversee operations in the East and execute the company's consumer optionality strategy. With over 25 years in the automotive industry, he will report directly to Chris Holzshu, the Chief Operating Officer. This move is part of LAD's effort to enhance its omni-channel strategy and support its 2025 growth plan.
Lithia & Driveway (NYSE:LAD) announced a $450 million increase to its share repurchase authorization, raising the total available for future repurchases to approximately $500 million. The company has repurchased over 2.4 million shares this year, representing over 8% of outstanding shares. CEO Bryan DeBoer emphasized the company's commitment to long-term growth through strategic acquisitions and internal investments, balanced with maintaining financial discipline. The recent repurchase strategy aims to generate high long-term returns for shareholders.
Lithia & Driveway (NYSE: LAD) has acquired Airstream Adventures, the largest Airstream dealer group in the U.S., expanding into the luxury recreation vehicle market. This acquisition includes Ultimate Airstreams and six stores across Oregon, Washington, Idaho, and California. Airstream Adventures' founder, Ted Davis, and team will join LAD, enhancing its customer experience through innovative services. The partnership aligns with LAD's commitment to providing comprehensive personal transportation solutions and aims to boost Airstream's brand appeal with new product introductions.
Lithia & Driveway (NYSE: LAD) announced its record third quarter results for 2022, with revenue rising 18% to $7.3 billion and net income up 7% to $330 million. Diluted EPS was $11.92, an 18% increase from Q3 2021. However, adjusted EPS decreased 1% to $11.08 due to foreign currency impacts. The company expanded its footprint, acquiring six locations and achieving over $3.0 billion in annualized revenues in 2022. A dividend of $0.42 per share was approved, payable on November 18, 2022. LAD ended with $1.6 billion in cash available for growth.
Lithia & Driveway (NYSE: LAD) has appointed Gary Glandon as Senior Vice President and Chief People Officer, responsible for all human resources functions. Glandon aims to foster a company culture that attracts and develops talent, aligning with the company's goal of reaching $50 billion in revenue and over $55 in EPS by 2025. With over 20 years of HR experience, including leadership roles at Glandon Partners and Rogers Corporation, Glandon is set to enhance LAD's workforce strategy.
Lithia & Driveway (NYSE: LAD) has scheduled its third quarter 2022 earnings release for October 19, 2022, before the market opens. A conference call to discuss the results will be held that same day at 10:00 a.m. Eastern Time. Interested parties can join the call by dialing (877) 407-8029 or listening via their website. Lithia & Driveway aims to consolidate North America's retail sector while providing personal transportation solutions.
Lithia & Driveway (NYSE: LAD) is expanding its footprint by acquiring five stores from Wilde Automotive Group in Wisconsin, projected to generate $625 million in annual revenue. The company also completed a $298 million asset-backed securities issuance for Driveway Finance Corporation, enhancing its financial capacity for growth. With DFC's originations contributing 10% to LAD's business, this is expected to rise to 15% in the coming years, diversifying income streams. Additionally, LAD launched Freeway, a new CRM platform designed to streamline customer interactions.
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