Stock Track | Lithia Motors (LAD) Soars 5.35% in Pre-market Trading After Q2 Earnings Beat and Dividend Hike

Stock Track
Jul 29

Shares of Lithia Motors (LAD) surged 5.35% in pre-market trading Wednesday, driven by the company's second-quarter earnings release that exceeded analyst expectations on both profit and revenue.

The automotive retailer reported adjusted earnings per share of $10.03, well above the consensus estimate of $8.78. Quarterly revenue reached $9.79 billion, beating the $9.63 billion forecast. In addition, the board approved a 23% increase in the quarterly dividend to $0.70 per share, further signaling confidence in the company's financial health.

Operational strength was broad-based, with used retail gross profit per unit jumping 20% sequentially, financing operations achieving record income of $37 million, and aftersales gross profit climbing 3.1%. CEO Bryan DeBoer highlighted the company's differentiated growth and strong momentum heading into the second half of the year.

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