Lithia Q2 record revenue $9.2B (+14% YoY); EPS down 27% to $7.87; $0.53 dividend

LITHIA MOTORS INC

2024-Q2 EPS reported $13.75 revenue$17,793,600,000

Revenue $9.2B (+14% YoY), record Q2; net income $217M ($7.87 diluted EPS), down 27% YoY.
Financing operations (Driveway Finance) reported first profitable quarter with $7M income.
Board declared $0.53 per share dividend, payable Aug 23 to holders of record Aug 9.
Repurchased 793k shares in 2024 at avg $256; $613.8M remains under authorization.
Acquired two stores in TN and one in Toronto; minority stake in Wheels, Inc. completed in Q3.

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