Lithia Has Record 1Q Revenue and EPS Despite New-Vehicle Slowdown
Lithia Motors' continued drive to improve operations at all the stores it's acquired over the years showed good momentum in first-quarter 2019, with adjusted diluted EPS rising 17.9% year over year to $2.44, easily beating consensus of $2.16. Revenue rose 7.1% to be about in line with consensus, and same-store revenue grew 3.2%. Strong growth in used vehicles, parts, and finance and insurance offset roughly flat new-vehicle revenue and a 3.3% decline in same-store new-vehicle revenue. Management...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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