LITHIA MOTORS INC reported the first quarter of 2026 results: revenue $9.3 billion, net income $102.0 million, EPS $4.28.
“EX-99.1 (EX-99.1) --- Lithia & Driveway (LAD) Reports First Quarter Results ________________________________________________ Key Highlights • Record first quarter revenues of $9.3 billion • Used vehicle revenue increased 4.6% on a same store basis in the quarter • Used retail GPUs increased 9% , or $133 , sequentially • Aftersales revenue increased 3.8%, gross”
Material Agreements
LITHIA MOTORS INC amended Seventh Amendment with U.S. Bank National Association (effective 2026-02-27).
“On February 27, 2026, Lithia Motors, Inc. (the “Company”) entered into a Seventh Amendment (the “Seventh Amendment”) to its Fourth Amended and Restated Loan Agreement, dated as of April 29, 2021 (including all amendments, the “Loan Agreement”) with U.S. Bank National Association as administrative agent and agent for the lenders, and each of the lenders party to the Loan Agreement, as lenders.”
Governance Changes
LITHIA MOTORS INC: Removed upper limit on board size; board size will be fixed by board resolution (effective 2026-02-19).
“On February 19, 2026, the Board of Directors the Company approved and adopted an amendment to the Company’s Amended and Restated Bylaws (as amended and restated, the “Bylaws”), effective as of such date. The amendment removes the upper limit on the size of the Board and provides that the exact number of directors shall be fixed from time to time by resolution of the Board.”
Debt Financings
LITHIA MOTORS INC incurred senior notes of $600 million aggregate principal amount with U.S. Bank Trust Company, National Association at 5.500% maturing October 1, 2030.
“completed a private offering (the “Offering”) of $600 million aggregate principal amount of its 5.500% Senior Notes due 2030”
Debt Financings
LITHIA MOTORS INC amended credit facility of increases the total financing commitment from $6.0 billion to $6.5 billion with U.S. Bank National Association.
“agent for the lenders, and each of the lenders party to the Loan Agreement, as lenders. Among other changes, the Sixth Amendment: • Increases the total financing commitment from $6.0 billion to $6.5 billion, which may be further expanded to up to a total of $7.0 billion, subject to Lender approval and the satisfaction of other conditions, with initial allocations as”
Adam A. Chamberlain resigned as Executive Vice President, Chief Operating Officer at LITHIA MOTORS INC.
“Adam A. Chamberlain will transition from his current role as Executive Vice President, Chief Operating Officer at Lithia Motors, Inc. (the “Company”) to assume the role of CEO of Mercedes-Benz USA, and therefore is resigning from his position with the Company, effective June 1, 2025.”
David J. Robino departed as Director at LITHIA MOTORS INC.
“On February 27, 2025, David J. Robino informed Lithia Motors, Inc. (the “Company”) of his decision to not stand for reelection to the Company’s Board of Directors (the “Board”) at the Company’s 2025 Annual Meeting of Shareholders.”
Christopher Holzshu changed role as Chief Operating Officer at LITHIA MOTORS INC.
“Mr. Holzshu, who has been COO since 2019, will leverage his broad experience and success at the Company, and will strengthen the Company’s partnerships and leverage synergies across its customer ecosystem and focus on corporate development.”
Cassandra McKinney was elected as Director at LITHIA MOTORS INC.
“On June 26, 2024, the Board of Directors (the “Board”) of Lithia Motors, Inc. (the “Company”) elected Cassandra McKinney to fill a vacancy created by the expansion of the Board from seven to eight directors, with service beginning July 1, 2024.”
Shareholder Votes
LITHIA MOTORS INC shareholders approved Ratification of Appointment of KPMG LLP as the Company's Independent Registered Public Accounting Firm for the Year Ending December 31, 2024 at the 2024-04-23 meeting.
“Proposal 3: Ratification of Appointment of KPMG LLP as the Company's Independent Registered Public Accounting Firm for the Year Ending December 31, 2024 FOR AGAINST ABSTAIN BROKER NON-VOTES 24,432,893 2,152,066 14,810 —”
Shareholder Votes
LITHIA MOTORS INC shareholders approved Approval by Advisory Vote, of Executive Compensation at the 2024-04-23 meeting.
“Proposal 2: Approval by Advisory Vote, of Executive Compensation FOR AGAINST ABSTAIN BROKER NON-VOTES 20,092,168 4,682,769 16,778 1,808,054”
Shareholder Votes
LITHIA MOTORS INC shareholders approved Election of Directors at the 2024-04-23 meeting.
“Proposal 1: Election of Directors DIRECTOR FOR AGAINST ABSTAIN BROKER NON-VOTES Sidney B. DeBoer 23,985,189 790,775 15,751 1,808,054 Bryan B. DeBoer 24,763,968 16,706 11,041 1,808,054 James E. Lentz 24,672,853 107,830 11,032 1,808,054 Stacy C. Loretz-Congdon 24,553,144 226,868 11,703 1,808,054 Shauna F. McIntyre 24,672,430 108,323 10,962 1,808,054 Louis P. Miramontes 23,198,492 1,559,683 33,540 1,808,054 David J. Robino 21,560,871 3,219,471 11,373 1,808,054”
Earnings Releases
LITHIA MOTORS INC reported first quarter of 2024 results: revenue $8.6 billion, net income $165 million, EPS $5.89.
“Lithia & Driveway (LAD) Reports Record First Quarter Revenue of $8.6 billion, 23% Increase”
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