Lithia Motors & Driveway (LAD) Reports Highest First Quarter Earnings In Company History; Increases Revenue 55% And EPS 195%
INCREASES DIVIDEND TO $0.35 PER SHARE FOR FIRST QUARTER
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MEDFORD, Ore., April 21, 2021 /PRNewswire/ Lithia Motors & Driveway (NYSE: LAD) today reported the highest first quarter revenue and earnings per share in company history.
First quarter 2021 revenue increased 55% to $4.3 billion from $2.8 billion in the first quarter of 2020.
First quarter 2021 net income per diluted share was $5.81, a 195% increase from $1.97 per diluted share reported in the first quarter of 2020. Adjusted first quarter 2021 net income per diluted share was $5.89, an 193% increase compared to adjusted net income of $2.01 per diluted share in the same period of 2020.
Good morning and welcome to the Lithia & Driveway First Quarter 2021 Conference Call. [Operator Instructions]
I would like to turn the call over to Eric Pitt, Vice President of Investor Relations and Treasurer. Please begin.
Eric Pitt
Vice President, Investor Relations and Treasurer
Thank you and welcome to the Lithia & Driveway first quarter 2021 earnings call. Presenting today are Bryan DeBoer, President and CEO; Chris Holzshu, Executive Vice President and COO; and Tina Miller, Senior Vice President and CFO. Today s discussions may include statements about future events, financial projections, and expectations about the company s products, markets and growth. Such statements are forward-looking and subject to risks and uncertainties that could cause actual results to differ materially from the statements made. We disclose those risks and uncertainties we deem to be material in our filings with the Securities and Exchange Commission. We urge you to carefully consider these di
Lithia acquires The Suburban Collection
Photo courtesy of Lithia Motors & Driveway Tuesday, Apr. 13, 2021, 01:43 PM By Auto Remarketing Staff CARY, N.C. -
In what the retailer says is one of the largest purchases ever in terms of franchise count, Lithia Motors & Driveway announced Tuesday that it has purchased The Suburban Collection.
The Troy, Mich.-headquartered Suburban Collection includes 56 franchises, with 33 brands across 34 locations. It is also Lithia s first major entry into the North Central region.
Lithia anticipates the purchase will add $2.4 billion in annualized revenues, bringing its total expected annualized revenues acquired to $6.5 billion since it announced a five-year plan nine months ago.
Lithia expands in Southwest with latest purchase autoremarketing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoremarketing.com Daily Mail and Mail on Sunday newspapers.