Lithia Motors First Quarter 2024 Earnings: EPS Misses Expectations

Lithia Motors (NYSE:LAD) First Quarter 2024 Results

Key Financial Results

• Revenue: US$8.56b (up 23% from 1Q 2023).
• Net income: US$162.6m (down 29% from 1Q 2023).
• Profit margin: 1.9% (down from 3.3% in 1Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$5.91 (down from US$8.32 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Lithia Motors EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 26%.

Looking ahead, revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Specialty Retail industry in the US.

Performance of the American Specialty Retail industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Lithia Motors that you should be aware of.

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