Lithia & Driveway shares gain 6.8% after first-quarter earnings beat expectations
Updated
Updated · MarketWatch · Apr 29
Lithia & Driveway shares gain 6.8% after first-quarter earnings beat expectations
9 articles · Updated · MarketWatch · Apr 29
The stock rose to $296.18 as first-quarter revenue reached $9.27 billion, surpassing analyst estimates, with used-vehicle sales up 7.3% and adjusted earnings at $7.34 per share.
Used-vehicle sales growth offset a 4.4% decline in new-vehicle sales, while aftersales and finance penetration also improved, according to CEO Bryan DeBoer.
Despite the earnings beat, Lithia & Driveway shares remain down 11% year-to-date, reflecting broader market pressures on automotive retailers.
Is Lithia's used-car strategy a masterstroke or a bubble waiting to burst?
How did Lithia turn car repairs into a bigger profit driver than new car sales?
New car sales are falling, so why are transaction prices still near record highs?
As giants like Lithia expand, are local family-owned car dealers facing extinction?
As Lithia bets heavily on AI, could it make human salespeople obsolete?
With record negative equity, are car buyers being trapped in endless debt cycles?