Lithia Continues to Grow Earnings Rapidly Via Acquisitions
Lithia Motors reported good fourth-quarter results with revenue rising 10% year over year to a record $3 billion, matching consensus, while adjusted diluted EPS grew 20% to $2.57, beating consensus of $2.41. We calculate EPS growth of 12% excluding the impact of share repurchases. Same-store revenue growth of 1% came from 10% growth in used vehicles and low- to mid-single-digit growth in service and finance more than offsetting a 4% new-vehicle revenue decline. We are not changing our fair value...Lithia Motors is a providers of personal transportation solutions. The company's segments are Domestic, Import and Luxury. The company's Domestic segment is comprised of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors and Ford. The company's Import segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Honda, Toyota, Subaru, Nissan and Volkswagen. The company's Luxury segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by BMW, Mercedes-Benz and Lexus. The franchises in each segment also sell used vehicles, parts and automotive services, and automotive finance and insurance products.
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