Lithia & Driveway reports Q3 adjusted EPS $9.25, consensus $10.08

Reports Q3 revenue $8.28B, consensus $8.2B. New and used unit growth was 18% and 9%, respectively. Total vehicle gross profit per unit was $5,218, down $930. “We continued to make steady progress executing our plan in the third quarter. Our omni-channel solution provides a set of affordable and convenient options for our customers. The experience is convenient, affordable and transparent. This also helped drive the growth of our complementary adjacencies,” said Bryan DeBoer, Lithia & Driveway, president and CEO. “Our results highlight our commitment to excellence and consistent expansion, both domestically and internationally. We remain well-financed, continue to diversify and adapt to ever changing market conditions, while delivering on our unique growth strategy.”