Wed, Jul. 22, 7:43 AM
- Lithia Motors (NYSE:LAD) reports same-store sales rose 11% in Q2.
- New vehicle same-store sales were up 8%, while the used vehicle comp was 16%.
- Same store F&I per unit +$78 to $1,280.
- Gross profit margin rate -80 bps to 14.9%, driven lower by a drop in used and fleet margins.
- Average selling price: New -3.6% to $32,738; Used +2.6% to $19,798.
- Guidance: Lithia expects Q3 EPS of $1.83-$1.87 and full-year EPS of $6.63-$6.67.
- Previously: Lithia Motors beats by $0.23, beats on revenue
Wed, Jul. 22, 7:30 AM
Tue, Jul. 21, 5:30 PM
Wed, Apr. 22, 7:49 AM
- Revenue breakdown: New vehicle retail: $1.01B (+74.0%); Used vehicle retail: $462.93M (+53.3%); Used vehicle wholesale: $62.21M (+45.7%); Finance and insurance: $64.60M (+63.0%); Service, body and parts: $173.48M (+65.8%); Fleet and other: $18.14M (86.1%).
- Gross margin rate declined 68 bps to 15.28%.
- Operating margin rate fell 35 bps to 3.80%.
- Total retail units sold +63.2% Y/Y to 54,827 units.
- Q2 Guidance: Diluted EPS: $1.55 to $1.59.
- FY2015 Guidance: Total revenues: $7.5B to $7.7B; Same-store revenues: $5.2 to $5.4B; New vehicle sales: +43.5%; Used vehicle sales: +36.5%; Service body and parts sales: +41%; New vehicle gross margin: 5.9% to 6.1%; Used vehicle gross margin: 12.6% to 12.8%; Service body and parts gross margin: 48.8% to 49.0%; Tax rate: 40%; Diluted EPS: $6.20 to $6.30; Average diluted shares outstanding: 26.5M; Capex: $100M.
Wed, Apr. 22, 7:31 AM
Tue, Apr. 21, 5:30 PM
Wed, Feb. 25, 8:34 AM
- Revenue breakdown: New vehicle retail: $1.07B (+81.8%); Used vehicle retail: $409.59M (+61.4%); Used vehicle wholesale: $59.87M (+59%); Finance and insurance: $60.06M (+66.9%); Service, body and parts: $172.4M (+71%); Fleet and other: $19.85M (179.2%).
- Gross margin rate declined 98 bps to 14.56%.
- Operating margin rate fell 77 bps to 3.68%.
- Total retail units sold +73.9% Y/Y to 53,626 units.
- FQ1 Guidance: Diluted EPS: $1.18 to $1.21.
- FY2015 Guidance: Total revenues: $7.5B to $7.7B; Same-store revenues: $5.2 to $5.4B; New vehicle sales: +41.5%; Used vehicle sales: +36.5%; Service body and parts sales: +41%; New vehicle gross margin: 5.9% to 6.1%; Used vehicle gross margin: 12.3% to 12.5%; Service body and parts gross margin: 48.4% to 48.6%; Tax rate: 40%; Diluted EPS: $5.95 to $6.05; Average diluted shares outstanding: 26.5M; Capex: $120M.
- LAD +2.97% premarket.
Wed, Feb. 25, 7:31 AM
Tue, Feb. 24, 5:30 PM
Oct. 30, 2014, 7:30 AM
Oct. 28, 2014, 9:10 AM
- Bulls will like...
- That AutoNation (NYSE:AN) didn't go down the path of early results of competitors like Lithia (NYSE:LAD), Asbury (NYSE:ABG) or Sonic (NYSE:SAH).
- That AN didn't repeat it's own Q2.
- That AN seems to be returning to its share repurchase program.
- Bears will say...
- "That there was little to get excited about at the operating level especially with lower margins across the board."
- Source: Morgan Stanely analyst Ravi Shanker
- Previously: AutoNation beats by $0.04, beats on revenue
- Previously: More on AutoNation's Q3
- Previously: Sonic EPS in-line, beats on revenue
- Previously: Asbury Automotive beats by $0.01, revenue in-line
- Previously: Preliminary results in for Lithia Motors' Q3
Oct. 13, 2014, 7:07 AM| Oct. 13, 2014, 7:07 AM | Comment!
Jul. 23, 2014, 2:59 PM
- Lithia Motors (LAD +4.7%) rises near 52-week highs after the auto dealership chain reported positive Q2 results and a sunny view of the rest of the year.
- Retail sales of new vehicles at locations open one year or more rose 12% in Q2 while retail same-store sales of used cars increased 11% over the same quarter last year.
- LAD projects Q3 EPS of $1.36-$1.38, with sales of $1.2B-$1.3B, and raises is FY 2014 EPS outlook to $4.95-$5, up from $4.57-$4.65 and $4.84 analyst consensus.
- LAD purchased the three new stores in Texas, Oregon and Alaska during Q2, which it says will bring in another $165M in estimated annual revenue.
Jul. 23, 2014, 7:30 AM
Jul. 22, 2014, 5:30 PM
Apr. 24, 2014, 7:38 AM
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