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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.

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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 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 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 (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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Lithia & Driveway expands its footprint in the Mid-Atlantic region with the purchase of 13 locations from the Priority Automotive Group in Virginia. The stores are projected to generate over $1.2 billion in annualized revenue.
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Lithia & Driveway (NYSE: LAD) announced its record first quarter revenue of $7.0 billion, a 4% increase from $6.7 billion in Q1 2022. However, net income per diluted share dropped 28% to $8.30, with adjusted net income at $8.44, a 29% decline. Overall net income fell to $230 million, down 33% from $344 million a year earlier. The drop in profitability was influenced by unrealized foreign currency losses. Notable performance metrics include a total vehicle gross profit per unit of $5,585, a decrease of $1,240, and a significant increase in service, body, and parts revenues by 17%. The company also acquired 37 locations expected to generate over $2 billion in annual revenues while maintaining a strong balance sheet with $1.4 billion in cash. The Board has approved a dividend increase to $0.50 per share, payable on May 26, 2023.

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Lithia & Driveway (NYSE: LAD) has announced that its first quarter 2023 earnings will be released on April 19, 2023, prior to market opening. The company will host a conference call at 10:00 a.m. Eastern Time on the same day to discuss the earnings results. Lithia & Driveway is recognized as a premier automotive retailer in North America, providing a wide array of vehicles and complementary services such as financing, leasing, and repair.

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Lithia & Driveway (NYSE: LAD) announced its expansion into the United Kingdom through a partnership with Jardine Motors Group, a leading automotive retailer with over 50 premium locations. This acquisition is expected to generate more than $2 billion USD in annual revenues. The deal brings LAD's total annualized revenue to over $2.1 billion in 2023, aligning with its strategic growth plan targeting $50 billion in revenue by 2025. The acquisition was financed using the company's existing resources, showcasing a strong commitment to growth in the luxury automotive market.

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FAQ

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

The current stock price of Lithia Motors (LAD) is $357.43 as of January 1, 2025.

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

The market cap of Lithia Motors (LAD) is approximately 9.5B.

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.
Lithia Motors, Inc.

NYSE:LAD

LAD Rankings

LAD Stock Data

9.52B
26.02M
1.8%
107.53%
8.98%
Auto & Truck Dealerships
Retail-auto Dealers & Gasoline Stations
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United States of America
MEDFORD