
Lithia & Driveway reported record first quarter revenues of $9.3 billion, a 1% increase, but diluted earnings per share decreased 46% to $4.28. Used vehicle revenue rose 4.6% on a same-store basis.
Bullish
Lithia & Driveway achieved record first quarter revenues of $9.3 billion, driven by strong aftersales growth and record Driveway Finance originations, while also repurchasing shares.
Bearish
Lithia & Driveway experienced a 46% decrease in diluted EPS and a 50-basis point decline in new vehicle gross margin, alongside increased SG&A as a percentage of revenue.