Lithia Raises Dividend by 7% and Posts Record 1Q Revenue and EPS
We are not changing our fair value estimate for auto dealer Lithia Motors after incorporating record first-quarter results into our model. March generated over 70% of first-quarter earnings due to rough weather in the Northeast, Alaska, and Montana, as well as from consumer fears in January and February in high-tax states such as New York and New Jersey over the new federal tax rules on state and local tax deductions. First-quarter diluted EPS of $2.07 missed consensus of $2.30, but still increa...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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