Lithia & Driveway reported record second-quarter 2025 revenue of $9.6 billion, a 4% increase from $9.2 billion in the second quarter of 2024. The company achieved a 25% increase in diluted earnings per share (EPS) to $9.87 and a 30% increase in adjusted diluted EPS to $10.24 compared to the prior year, surpassing preliminary guidance and analyst consensus.
For the first six months of 2025, revenues increased 5% to $18.8 billion, with diluted EPS rising 29% to $17.80 and adjusted diluted EPS increasing 28% to $17.88. Unrealized gains on the investment in Pinewood Technologies Group PLC contributed $1.03 to diluted EPS for the quarter, highlighting the value of strategic partnerships.
Corporate development continued with the acquisition of two Mercedes-Benz stores in June 2025, adding $220 million in annualized revenue and bringing year-to-date acquired annualized revenues to $400 million. The company declared a dividend of $0.55 per share and continued its share repurchase program, buying back approximately 387,000 shares during the quarter at a weighted average price of $306. Additionally, Gary Glandon, Chief People Officer, announced his retirement effective December 31, 2025, with succession planning underway.
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