The earnings call highlighted significant revenue growth and operational efficiency improvements, particularly in cost savings and strategic acquisitions. However, challenges remain in same-store sales performance and inventory management, especially in the used vehicle segment. The overall progress in digital and financing operations, along with strategic partnerships, supports a positive outlook.

Company Guidance

During Lithia Motors' third-quarter 2024 earnings call, the company highlighted several key metrics demonstrating strong performance and strategic progress. The company achieved a record revenue of $9.2 billion, marking an 11% increase from the same quarter last year, while adjusted diluted earnings per share reached $8.21. Lithia reported a significant improvement in cost efficiency, reducing adjusted SG&A from 67.9% of gross profit in Q2 to 66% in Q3, and realized $200 million in annualized cost savings primarily through personnel reductions. The company also emphasized its ongoing commitment to growth, projecting future acquisition revenues between $2 billion and $4 billion annually, and noted a 40% reduction in burn rates for its Driveway and GreenCars e-commerce platforms. Additionally, Lithia reported its financing operations segment, primarily driven by Driveway Financial Corporation, delivered another profitable quarter, with a portfolio balance now exceeding $3.8 billion. The company repurchased $54 million of its shares during the quarter, aligning with its strategy to allocate 30% to 40% of free cash flow to share buybacks. Looking ahead, Lithia aims to optimize its network and capture market share, ultimately targeting SG&A as a percentage of gross profit in the mid-50% range.

Record Revenue Growth

Lithia & Driveway grew revenues to a record $9.2 billion, an 11% increase from Q3 of last year.

Cost Efficiency Improvements

Achieved $200 million in annualized cost savings, mostly from personnel-related reductions, reducing adjusted SG&A from 67.9% of gross profit in Q2 to 66% in Q3.

Aftersales and Financing Success

Aftersales revenues up 5.1% year-over-year with a 56% gross profit margin. Financing operations delivered a profitable quarter with $1 million in earnings, compared to a loss of $4 million last year.

Digital Ecosystem Expansion

Digital channels saw growth to 12 million monthly unique visitors, with Driveway and GreenCars contributing 3 million MUVs and 25,000 digital units sold in Q3.

Strategic Acquisitions

Acquired nearly $6 billion in annual revenues in 2024, including 3 stores from Duval Motor Company in Northern Florida.

---

Lithia Motors (LAD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

LAD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 12, 2025	2024 (Q4)	7.31 / -	8.24	―	―	―
Oct 23, 2024	2024 (Q3)	7.60 / 8.21	9.25	-11.24% (-1.04)
Aug 01, 2024	2024 (Q2)	7.00 / 7.87	10.91	-27.86% (-3.04)
Apr 24, 2024	2024 (Q1)	7.62 / 6.11	8.44	-27.61% (-2.33)
Feb 14, 2024	2023 (Q4)	8.20 / 8.24	9.05	-8.95% (-0.81)
Oct 25, 2023	2023 (Q3)	9.99 / 9.25	11.08	-16.52% (-1.83)
Jul 26, 2023	2023 (Q2)	9.26 / 10.91	12.18	-10.43% (-1.27)
Apr 19, 2023	2023 (Q1)	8.68 / 8.44	11.96	-29.43% (-3.52)
Feb 15, 2023	2022 (Q4)	10.10 / 9.05	11.39	-20.54% (-2.34)
Oct 19, 2022	2022 (Q3)	11.84 / 11.08	11.21	-1.16% (-0.13)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

LAD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 23, 2024	$304.10	$334.83	+10.11%
Aug 01, 2024	$275.42	$294.46	+6.91%
Apr 24, 2024	$263.08	$247.01	-6.11%
Feb 14, 2024	$296.23	$301.41	+1.75%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---