Lithia & Driveway (LAD) Expands in Texas, Adding over $200 Million in Annualized Revenue

Rhea-AI Summary

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.

Positive

• Acquisition of Meador CDJR expected to generate over $200 million in annualized revenue.
• Total expected annualized revenue from acquisitions in 2022 now exceeds $3.3 billion.
• Acquisition supports LAD's 2025 Plan targeting $50 billion in revenue and $55-$60 in EPS.

Negative

• None.

MEDFORD, Ore., Nov. 29, 2022 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced today they have expanded their footprint in Texas with the purchase of Meador Chrysler, Dodge, Jeep, Ram (CDJR), the second largest CDJR store in the Dallas/Fort Worth area.

"We are thrilled to welcome this experienced and dedicated team to the Lithia & Driveaway family" said Bryan DeBoer, Lithia & Driveway President and CEO. "Meador CDJR has a long-standing reputation for delivering exceptional service, earning them the FCA Customer First Award for Excellence" said DeBoer.

Meador CDJR is located in Fort Worth and serves the greater Dallas-Fort Worth area. The store is projected to generate more than $200 million in annualized revenue, bringing LAD's total expected annualized revenue acquired in 2022 to over $3.3 billion. This acquisition continues the expansion of LAD's nation-wide network as part of the company's 2025 Plan to reach $50 billion in revenue and $55 to $60 in EPS.

About Lithia & Driveway (LAD):

LAD is a growth company focused on profitably consolidating the largest retail sector in North America through providing personal transportation solutions wherever, whenever, and however consumers desire.

Sites
www.lithia.com
www.investors.lithiadriveway.com
www.lithiacareers.com
www.driveway.com
www.greencars.com
www.drivewayfinancecorp.com

Lithia & Driveway on Facebook
https://www.facebook.com/LithiaMotors
https://www.facebook.com/DrivewayHQ

Lithia & Driveway on Twitter
https://twitter.com/lithiamotors
https://twitter.com/DrivewayHQ
https://twitter.com/GreenCarsHQ

View original content to download multimedia:https://www.prnewswire.com/news-releases/lithia--driveway-lad-expands-in-texas-adding-over-200-million-in-annualized-revenue-301688700.html

SOURCE Lithia Motors, Inc.

FAQ

What is Lithia & Driveway's recent acquisition?

Lithia & Driveway recently acquired Meador Chrysler, Dodge, Jeep, Ram in Texas.

How much annualized revenue will Meador CDJR add to Lithia & Driveway?

The acquisition of Meador CDJR is projected to generate over $200 million in annualized revenue.

What is Lithia & Driveway's revenue target by 2025?

Lithia & Driveway aims to reach $50 billion in revenue by 2025.

How much revenue has Lithia & Driveway acquired in 2022?

Lithia & Driveway's total expected annualized revenue from acquisitions in 2022 exceeds $3.3 billion.

What are the earnings per share (EPS) goals for Lithia & Driveway?

Lithia & Driveway targets EPS between $55 and $60 as part of their 2025 Plan.