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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.
Lithia Motors & Driveway (NYSE: LAD) has announced a public offering of 3,105,590 shares of Class A common stock at $322.00 per share, with underwriters having a 30-day option to purchase an additional 465,838 shares. The offering is expected to close on May 24, 2021. Concurrently, it priced a private offering of $800 million in senior notes due 2029, increasing the offering size by $300 million. J.P. Morgan and Goldman Sachs are the joint book-running managers for the stock offering.
Lithia Motors & Driveway (NYSE: LAD) priced $800 million in 3.875% senior notes due 2029, increasing from an earlier announcement by $300 million. The offering is expected to close on May 27, 2021. Proceeds will be used to redeem $300 million of 5.250% senior notes due 2025 and for general corporate purposes, including potential acquisitions and debt refinancing. Concurrently, Lithia announced a public offering of over 3 million shares of Class A common stock at $322.00 per share. The notes will be offered to qualified institutional buyers under Rule 144A and Regulation S.
Lithia Motors & Driveway (NYSE: LAD) announced a public offering of $1 billion of Class A common stock, with an additional $150 million option for underwriters. Proceeds will be used for general corporate purposes, including possible acquisitions, debt repayment, and capital expenditures. Concurrently, the company plans to offer $500 million in senior notes due 2029. The offering is facilitated by J.P. Morgan and Goldman Sachs as joint book-running managers. A shelved registration statement has been filed with the SEC for the common stock offering.
Lithia Motors & Driveway (NYSE: LAD) announced plans to offer $500 million in senior notes due 2029 and $1 billion in Class A common stock in a public offering. The notes will be sold to qualified institutional buyers, exempt from the Securities Act registration. Proceeds will fund general corporate purposes, including possible acquisitions and debt refinancing. Lithia is positioned as a leading provider of personal transportation solutions, with a focus on operational excellence and digital innovation aimed at expanding market share.
Lithia Motors & Driveway (NYSE: LAD) has acquired Planet Honda, one of the largest Honda dealerships in the U.S., located in Union, New Jersey, expected to generate over $200 million in annual revenue. This acquisition boosts LAD's total annualized revenues from acquisitions to over $6.7 billion in just ten months of its five-year plan. The company aims for $50 billion in revenue and $50 earnings per share by the end of this period, demonstrating strong growth momentum and an active acquisition pipeline.
Lithia Motors & Driveway (LAD) reported record-breaking first quarter results for 2021, with revenue soaring 55% to $4.3 billion compared to $2.8 billion in Q1 2020. Net income per diluted share rose 195% to $5.81, while adjusted net income increased 193% to $5.89. Total vehicle gross profit per unit experienced an 18.7% increase, reaching $4,392. The company also expanded its footprint through strategic acquisitions, projecting $3.1 billion in annualized steady state revenues. A dividend of $0.35 per share was approved, to be paid on May 21, 2021.
Lithia Motors & Driveway (NYSE: LAD) will release its first quarter 2021 earnings before the market opens on April 21, 2021. A conference call to discuss the results is set for the same day at 10:00 a.m. Eastern Time. Interested parties can access the call by phone at (877) 407-8029 or listen live on their website. Lithia Motors is a leading provider of personal transportation solutions in the U.S., recognized for its rapid growth and operational excellence, leveraging data science and an omni-channel strategy to enhance consumer experiences.
The Presidio Group has successfully facilitated the sale of The Suburban Collection's 56 dealership franchises to Lithia Motors Inc. (NYSE: LAD). The Suburban Collection is the 12th largest privately-owned dealership group in the U.S. by revenue and operates primarily in southeastern Michigan. This acquisition is expected to enhance growth opportunities, maintain company culture, and provide new advancements for over 2,250 employees. Lithia is poised to leverage the Suburban Collection's established footprint, bolstering its presence in the Michigan market.
Lithia Motors & Driveway (NYSE: LAD) has acquired The Suburban Collection, expanding its North Central region presence. This acquisition will add $2.4 billion in annualized revenues, enhancing Lithia's total anticipated annual revenue from acquisitions to $6.5 billion. Since launching its five-year growth plan, Lithia has completed six of eight major acquisitions and is exceeding its $4 billion annual revenue target by over 60%. The Suburban Collection operates 56 franchises and significantly boosts Lithia's market position.
Lithia Motors & Driveway (NYSE: LAD) has announced the acquisition of Avondale Nissan in Phoenix, Arizona, enhancing its market presence in the Southwest. This acquisition contributes to LAD's total annualized revenues exceeding $4.75 billion within nine months of its five-year strategic plan. The company is ahead of its target to acquire $4 billion in annualized revenues annually, aiming for a total of $50 billion in revenue and earnings per share of $50. The acquisition is financed through equity and debt offerings from the previous year.
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