Lithia & Driveway Reports Record Q2 Revenue and Beats Earnings Estimates
Lithia & Driveway (NYSE: LAD) reported record second-quarter revenue of $9.8 billion, a year-over-year increase of 2.1%, surpassing analyst expectations by $160 million. The company also delivered non-GAAP earnings per share (EPS) of $10.03, which beat estimates by $1.31. Used retail gross unit profit increased by $339 or 20% sequentially during the quarter. Additionally, aftersales gross profit rose by 3.1%, with a gross margin reaching 59.2%. These results reflect strong performance in both vehicle sales and service operations despite ongoing industry challenges. The report highlights Lithia's ability to maintain profitability amid market volatility, potentially boosting investor confidence.
Tickers: $LAD
Topics: automotive retail financial results