Lithia & Driveway reported record first-quarter 2025 revenue of $9.2 billion, a 7% increase from $8.6 billion in the first quarter of 2024. The company achieved a 35% increase in diluted earnings per share (EPS) to $7.94 and a 25% increase in adjusted diluted EPS to $7.66 compared to the prior year, despite slightly missing the analyst consensus estimate of $7.69.
Net income attributable to Lithia Motors, Inc. rose 28.8% to $209.5 million, while adjusted net income increased 20% to $204 million. Operational efficiencies were evident as selling, general, and administrative (SG&A) expenses as a percentage of gross profit improved to 67.5% from 70.0% year-over-year. The Financing Operations segment also saw significant growth, reporting income of $12.5 million, up from $1.7 million in Q1 2024.
The Board of Directors approved an increased dividend of $0.55 per share, a 4% increase, for the first quarter 2025. The company continued its share repurchase program, buying back approximately 403,000 shares during the quarter at a weighted average price of $326. Year-to-date, Lithia has acquired $180 million in expected annualized revenues through the Stohlman Subaru and Elk Grove Subaru acquisitions.
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