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., doing business as Lithia & Driveway (NYSE: LAD), is frequently in the news as it executes its automotive retail and capital allocation strategies. The company describes itself as the largest global automotive retailer, with operations that span the vehicle ownership lifecycle through physical locations, e-commerce platforms, captive finance solutions, fleet management offerings and related services.
News coverage on this page reflects several recurring themes in Lithia & Driveway’s public announcements. The company regularly reports quarterly financial results, including revenue and earnings per share, and often pairs these updates with information about dividends and share repurchase activity. Recent disclosures have highlighted record quarterly revenue, increases in diluted and adjusted diluted earnings per share, and ongoing cash dividends per share.
Another major news category involves acquisitions and network expansion. Lithia & Driveway issues press releases when it acquires dealerships in key markets, such as Subaru, Acura, Hyundai, Genesis, Porsche and Audi stores in regions including the Southeast United States, the Atlanta metro area, the West Palm Beach area, the West Side of Los Angeles and the Greater Toronto Area in Canada. These transactions are typically described in terms of expected annualized revenue contributions, brand mix, network density and strategic fit within its omnichannel ecosystem.
Additional news items cover capital markets activity and governance developments. Examples include announcements of proposed and priced private offerings of senior notes due 2030, amendments to its large syndicated loan agreement, and changes to the board of directors. Together, these updates provide insight into Lithia & Driveway’s financial structure, growth plans and corporate oversight. Investors following LAD news can use this stream of earnings releases, acquisition announcements and financing updates to understand how the company is pursuing its stated vision to modernize personal transportation solutions.
Lithia & Driveway (NYSE: LAD) announced that it will release its fourth quarter 2022 earnings on February 15, 2023, before the market opens. A conference call to discuss the earnings results is set for the same day at 10:00 a.m. Eastern Time. The company is recognized as a premier automotive retailer in North America, specializing in a wide variety of vehicles and offering comprehensive financing and maintenance options. Lithia’s commitment to modernizing transportation solutions reflects its growth strategy in the automotive retail sector.
Lithia & Driveway (NYSE: LAD) announced its first acquisition in Kentucky, purchasing Glenn's Freedom CDJR. This strategic move aims to enhance its retail presence in a key region and is projected to generate over $140 million in annualized revenue. In 2022, LAD has acquired 33 stores expected to contribute $3.5 billion in revenue, supporting its ambitious goal of reaching $50 billion in revenue and $55 to $60 in EPS by 2025.
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.
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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.
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