Lithia Motors Q1 revenue up 4% to $7.0B; EPS falls 28% to $8.30; dividend raised to $0.50

LITHIA MOTORS INC

2023-Q1 EPS reported $8.30 revenue$6,973,800,000

Revenue $7.0B (+4% YoY); net income $230M (-33%); adjusted net income $233M (-34%).
Diluted EPS $8.30 (GAAP) and $8.44 adjusted, down 28% and 29% YoY respectively.
Acquired 37 locations expected to add $2B annualized revenue; entered UK via Jardine Motors.
Board approved quarterly dividend increase to $0.50/share, payable May 26 to holders of record May 12.
Driveway averaged 2.4M monthly unique visitors; DFC originated ~$630M in loans in Q1.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

LITHIA MOTORS INC reported Q1 2023 results: revenue $7.0 billion, net income $230 million, EPS $8.30.

Period: Q1 2023
Revenue: $7.0 billion
Net income: $230 million
EPS: $8.30
Result: reported results

Exact text from the filing

First quarter 2023 revenue increased 4% to $7.0 billion from $6.7 billion in the first quarter of 2022. First quarter 2023 net income attributable to LAD per diluted share was $8.30, a 28% decrease from $11.55 per diluted share reported in the first quarter of 2022.

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LITHIA MOTORS INC filing history →

Source: SEC EDGAR

accession 0001023128-23-000064

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