Lithia Motors Q3: Earnings Beat Estimates, New Store Acquisitions Expand Market Reach Across Luxury Segments In Florida

Lithia Motors, Inc. (NYSE:LAD) reported third-quarter adjusted earnings per share of $8.21, beating the analyst consensus estimate of $7.60.

Unrealized investment gains and foreign currency exchange gains increased diluted earnings per share by 11 cents.

Quarterly sales of $9.221 billion (+11%) missed the street view of $9.482 billion.

Revenue Segments: New vehicle retail (+14%), Used vehicle retail (+8.5%), Used vehicle wholesale (+23.7%), Finance and insurance (+3.1%), Aftersales (+20.9%), Fleet and other (-31.4%).

Adjusted net income was $222 million, reflecting a 14% decrease from $258 million in the same period of 2023.

Aftersales gross profit increased by 6.3% on a same-store basis. The ...