Lithia & Driveway (LAD) Reports Third Quarter Results, Achieves 54% Increase in Diluted Earnings Per Share, 9% Increase in Adjusted Diluted Earnings Per Share, and Raises Quarterly Dividend 7%
Key Highlights Record third quarter revenues of $9.9 billionUsed retail GPUs increased $197, or 11%, year over yearAftersales gross profit increased by 2.4% and gross margin was 59.5%, a 100-basis point increase, on a same-store basisFinancing Operations income of $32.3 million, a 69% increase year over year, with record originations of $937 million, and a 18.3% penetration rateThird quarter diluted earnings per share of $13.22, a 54% increase, and adjusted diluted earnings per share of $10.34, a 9% increas ...