Lithia Motors, Inc.NYSE
Thu, Oct. 20, 8:21 AM
Thu, Oct. 20, 8:15 AM
- Lithia Motors (NYSE:LAD) reports total same-store sales rose 4.5% in Q3.
- Same-store sales breakdown: New vehicle retail: +1.3%; Used vehicle retail: +10.6%; Used vehicle wholesale: +4.6%; Finance and insurance: +10.8%; Service, body and parts: +9.7%; Fleet and other: -33.5%.
- Revenue breakdown: New vehicle retail: $1.3B (+5.7%); Used vehicle retail: $580.86M (+14.8%); Used vehicle wholesale: $75.27M (+8.3%); Finance and insurance: $87.71M (+14.5%); Service, body and parts: $217.15M (+14.4%); Fleet and other: $11.44M (-28.4%).
- Same store F&I per unit +$98 Y/Y to $1,302.
- Gross margin rate remained constant Y/Y at 14.9%.
- Adjusted SG&A expense rate up 20 bps to 10.1%.
- Adjusted operating margin rate fell 30 bps to 4.3%.
- Total retail units sold +7% Y/Y to 68,053 units.
- FY2016 Guidance: Total revenues: $8.5B to $8.6B; New vehicle same-store sales: +2.5%; Used vehicle same-store sales: +9.5%; Service body and parts same-store sales: +8.5%; New vehicle gross margin: 5.7% to 5.9%; Used vehicle gross margin: 11.7% to 11.9%; Service body and parts gross margin: 48.2% to 48.4%; Tax rate: 39.5%; Diluted EPS: $7.40 to $7.45; Average diluted shares outstanding: 25.5M.
- FY2017 Guidance: Total revenues: $9.2B to $9.4B; New vehicle same-store sales: +1.5%; Used vehicle same-store sales: +5.5%; Service body and parts same-store sales: +5%; New vehicle gross margin: 5.5% to 5.7%; Used vehicle gross margin: 11.5% to 11.7%; Service body and parts gross margin: 48.2% to 48.4%; Tax rate: 39.5%; Diluted EPS: $8 to $8.3; Average diluted shares outstanding: 25.3M.
Thu, Oct. 20, 7:00 AM
Wed, Oct. 19, 5:30 PM
Mon, Oct. 10, 11:18 AM
- Manheim reports wholesale used vehicle prices were flat M/M and up 1.7% Y/Y in September to a reading of 126.9. The pickup and van segment showed the biggest gain across the different classes.
- "The continued strength in wholesale pricing is largely explained by current and past increases in new vehicle transaction prices – even after adjusted for mix shifts," notes Cox automotive economist Tom Webb.
- Used unit retail sales rose 4.7% YTD through the end of August.
- Related stocks: PAG, AN, CRMT, SAH, LAD, ABG, KMX, CPRT, RUSHA, RUSHB.
Thu, Oct. 6, 7:10 AM
- Lithia Motors (NYSE:LAD) announces it acquired Audi Auto Gallery in Woodland Hills, California.
- The store addition is expected to add $120M in annual revenue.
- The acquisition brings Lithia's cumulative 2016 annualized acquired revenue to over $1B.
- "We believe that considerable acquisition opportunities remain that require an equity investment at the low end of our 10% to 20% of revenue guideline," says CEO Bryan DeBoer.
- Source: Press Release
Thu, Sep. 29, 7:18 AM
Tue, Sep. 13, 1:43 PM
Fri, Aug. 12, 12:18 PM
- Lithia Motors (LAD +0.2%) acquired Kemp Ford in Thousand Oaks, California which will add $65M in estimated annual revenues.
- Bryan DeBoer, President and Chief Executive Officer, commented, "We are pleased to welcome DCH Ford of Thousand Oaks to our team. This store marks the third acquisition for our DCH platform this year and complements our existing operations in Southern California. We are excited to expand our relationship with Ford and further diversify our brand mix. We remain focused on continued acquisition growth within both rural and metropolitan markets in the future."
- Press Release
Thu, Jul. 28, 6:57 AM
Wed, Jul. 27, 5:30 PM
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Wed, Jun. 15, 1:57 PM
- A dive by MarketWatch into sales growth and share price performance pulls out three names that could be overlooked by investors.
- MarineMax (HZO +1.4%) is the only company on a list of the strongest Q1 same-store sales growth in the retail sector to show a negative YTD return.
- Two auto retailers, Lithia Motors (LAD +2%) and Asbury Automotive (ABG +2.2%), are also in negative territory this year, despite making a separate list of companies with the highest growth of sales per share over the last 12 months.
- YTD returns: HZO -11%, LAD -29%, ABG -19%.
Wed, May 25, 8:57 AM
- An analysis of data from LendingTree suggests that millennials want to drive and own cars.
- "The share of millennial auto loan requests has climbed from roughly 27 percent in early 2013 to about 34 percent in 2016, suggesting a return of younger buyers to the car market," concludes Lending Tree after diving into loan requests.
- On a volume basis, the most popular cars that millennials requested a loan for were the Nissan Altima, Dodge Charger, Honda Accord, Chevrolet Impala, and Chevrolet Tahoe. Millennials opted for used vehicles at a slightly higher clip than older drivers, 46% vs. 44%.
- The crush of major automaker-tech firm partnerships (Toyota-Uber, GM-Lyft, Fiat-Google, Volkswagen-Gett) popping up is predicated in part on a younger generation attuned to ride-sharing and ride-hailing. There's also been an assumption by some analysts of a topping out of U.S. auto demand this year or next due in part to millennial disinterest.
- Related automaker/auto retailer stocks: PAG, ABG, LAD, GPI, SAH, KMX, AN, RUSHA, OTCPK:DDAIF, TM, HMC, TSLA, TTM, OTCPK:VLKAY, GM, F, OTCPK:NSANY, OTCPK:BAMXY, OTCPK:FUJHF.
Tue, May 24, 9:38 AM
- Worried about Fed rate hikes pushing the greenback up higher? Focus on growing companies deriving at least 80% of sales from the U.S., says Jefferies' Steven DeSanctis.
- He notes the dollar peaked on Jan. 20, and sectors with big overseas exposure have outperformed since. However, with higher interest rates looking like they might send the dollar back into an uptrend, it's time to refocus on companies less reliant on exports.
- DeSanctis and team identified 27 small- and mid-cap companies that were: In the Russell 2500 and Buy-rated by Jefferies, have less than 20% of sales outside of U.S., "sit in the highest two quintiles" based on ROE, and have market values north of $2B.
- Of that group, they picked ten showing the highest growth of sales per share (though a tie brought the total to 11): Paycom Software (NYSE:PAYC), Lithia Motors (NYSE:LAD), Centene Corp. (NYSE:CNC), Molina Healthcare (NYSE:MOH), Five Below (NASDAQ:FIVE), Mednax (NYSE:MD), Western Alliance Bancorp (NYSE:WAL), Signature Bank (NASDAQ:SBNY), KAR Auction (NYSE:KAR), Science Applications (NYSE:SAIC), and Urban Outfitters (NASDAQ:URBN).
Tue, May 3, 10:17 AM
- The broad automobile-related sector is slumping after the Detroit Three all post U.S. sales reports below expectations for April.
- Hertz Global (HTZ -7.1%) and Avis Budget (CAR -5.6%) in particular are being hit hard with Avis due to report earnings after the bell and some read-through on daily rentals from GM influencing trading.
- Retailers AutoNation (AN -2.5%), Asbury Automotive (ABG -3.3%), CarMax (KMX -1.9%), Lithia Motors (LAD -1.6%), and Group 1 Automotive (GPI -3.7%) are also lower.
Sun, Apr. 24, 6:13 PM
- via Credit Suisse, in order of # of small-cap funds who own the stock. Following the stock is the number of funds who own it, and the change vs. previous quarter:
- IDTI - Integrated Device Tech 96 | 14
- MSCC - Microsemi 86 | 10
- MANH - Manhattan Associates 85 | 5
- CBM - Cambrex 80 | 4
- EEFT - Euronet Worldwide 80 | 8
- POR - Portland General Electric 79 | 0
- EME - Emcore 78 | 6
- LAD - Lithia Motors 78 | 6
- AMSG - Amsurg 78 | 0
- JCOM - J2 Global 77 | 4
- PFPT - Proofpoint 77 | 4
- AHS - AMN Healthcare 74 | 2
- EXPR - Express Inc. 74 | 3
- ICUI - ICU Medical 73 | 0
- LGND - Ligand Pharma 73 | 6
- PVTB - Privatebancorp 73 | -2
- PRXL - Parexel 72 | 5
- AEL - Americal Equity Investment Life 71 | 3
- TYL - Tyler Technologies 71 | 7
- CRZO - Carrizo Oil & Gas 69 | 3
- MENT - Mentor Graphics 69 | -9
- MNRO - Monro Muffler Brake 68 | 0
- WAL - Western Alliance Bancorp 68 | 8
- AEO - American Eagle Outfitters 67 | 0
- LOGM - Logmein 67 | -1
- OZRK - Bank of the Ozarks 67 | 5
- SHOO - Steven Madden 67 | -10
- STE - Steris 67 | 20
- WNC - Wabash National 67 | -1
- Credit Suisse recommends reducing exposure in small-cap "darlings" due to less opportunity for differentiation; historical underperformance; and outflows.