Lithia Mtrs Inc Stock Price, News & Analysis

Lithia & Driveway (NYSE: LAD) announced record second quarter results for 2022, with revenue of $7.2 billion, a 20% increase from 2021. Net income attributable to LAD per diluted share rose 8% to $11.60. Adjusted earnings per share also increased 10% to $12.18. The company acquired 13 locations expected to generate $1.2 billion in annualized revenues. A $0.42 per share dividend was approved, payable August 26, 2022. LAD ended the quarter with $0.8 billion in cash and credit availability, with $1.7 billion in unfinanced real estate liquidity.

Lithia & Driveway (NYSE: LAD) will announce its second quarter 2022 financial results before the market opens on July 20, 2022. A conference call to discuss these results is scheduled for the same day at 10:00 a.m. Eastern Time. The company emphasizes its position as a leading provider of personal transportation solutions in North America, focusing on growth through innovation and operational excellence. Lithia & Driveway is recognized for its significant growth metrics, including being ranked #231 on the Fortune 500.

Haig Partners LLC acted as the exclusive advisor for the sale of Lehman Auto World’s nine dealerships to Lithia Motors, Inc. (NYSE: LAD), marking a historic deal in Florida's automotive sector. This acquisition includes eleven dealerships and is projected to generate over $850M in annualized revenue for Lithia Motors. The sale underscores ongoing consolidation in the automotive retail market. Bill Lehman, Jr., the seller, cited a desire to retire after decades in the business. Lithia Motors, known for its substantial revenue and vehicle sales, strengthens its position in the Florida market with this transaction.

Lithia & Driveway (NYSE: LAD) has expanded its presence in Florida and Nevada by acquiring eleven auto stores, expected to generate $950 million in annualized revenue. This includes nine Lehman Auto World and two Esserman International stores in South Florida, along with Henderson Hyundai and Genesis in Las Vegas. The acquisitions will bring LAD's total expected revenue for 2022 to over $2.1 billion. Additionally, LAD repurchased approximately 1.9 million shares at an average price of $284, with $116 million left in the repurchase authorization.

Lithia & Driveway (LAD) announced significant growth for its Driveway platform, achieving 1,050 shop transactions in May, contributing to a total of 4,300 monthly transactions, surpassing its 2022 target of 40,000. With over two million unique visitors recorded in May, the company is on track for its 2023 transaction goals and aims for profitability by 2024. CEO Bryan DeBoer highlighted the rapid milestone achievement, indicating the platform's strong performance and potential for further growth.

Lithia & Driveway (NYSE: LAD) has expanded its Canadian portfolio by acquiring Sisley Honda, a top Honda dealership in Thornhill, Ontario. This acquisition enhances LAD's presence in Canada and contributes over $1.2 billion to expected annualized revenue for 2022. LAD aims to surpass its 2025 revenue target of $50 billion and achieve an EPS of more than $5.55. The acquisition was financed through existing balance sheet resources, reinforcing LAD's strategy of profitable consolidation in North America's retail sector.

Lithia & Driveway (NYSE: LAD) reported record Q1 2022 results, with revenues soaring 54% to $6.7 billion, up from $4.3 billion in Q1 2021. Net income reached $344 million, a 120% increase, with diluted EPS climbing to $11.55, representing a 99% rise year-over-year. The company also announced a dividend increase to $0.42 per share, set for May 27, 2022. Driveway achieved significant milestones, while the acquisition of three Stellantis stores is expected to add $400 million in annual revenue. Strong cash positions support future growth.

Lithia & Driveway (NYSE: LAD) will release its Q1 2022 earnings on April 20, 2022, before market open. A conference call to discuss the results is scheduled for the same day at 10:00 a.m. Eastern Time. Interested parties can join the call by dialing (877) 407-8029 or via the company's investor relations website.

LAD focuses on consolidating the North American retail sector, providing flexible transportation solutions for consumers.

Lithia & Driveway (NYSE: LAD) reported record fourth quarter and full year earnings for 2021. Q4 revenue surged 60% to $6.3 billion, with net income per diluted share at $9.57, a 36% increase year-over-year. The company achieved adjusted earnings per share of $11.39, up 109% from 2020. For the full year, revenue reached $22.8 billion, a 74% increase, and net income rose to $1.1 billion, marking a 126% gain. The Board approved a dividend of $0.35 per share, with share repurchases amounting to approximately 2.5% of outstanding shares during Q4.