Lithia Motors, Inc.

Kerrigan Advisors Represents Gossett Motor Cars on the Sale of Four Kia and Hyundai Dealerships in Memphis, Tennessee to Lithia Motors

Lithia Motors acquired four Kia and Hyundai dealerships in Memphis from Gossett Motor Cars — Gossett Kia, Gossett Hyundai, Gossett Kia South and Gossett Hyundai South. The transaction more than doubles Lithia's presence in Memphis and includes two of the three Kia points and two of the four Hyundai points in the Memphis MSA, on two of the region's highest-volume auto rows. No purchase price was disclosed. Lithia reported $37.6 billion in 2025 revenue and ranks #123 on the 2026 Fortune 500.

•12d ago

Lithia & Driveway (LAD) Reports Third Quarter Results, Achieves 54% Increase in Diluted Earnings Per Share, 9% Increase in Adjusted Diluted Earnings Per Share, and Raises Quarterly Dividend 7%

Lithia & Driveway reported record Q3 2026 revenue of $9.9 billion, up 2.8% year-over-year, with GAAP diluted EPS of $13.22 up 54% and adjusted EPS of $10.34 up 9%. The headline EPS surge was amplified by a 12.7% lower share count from buybacks ($85M repurchased in Q3, 8.7% of shares in 2026) and a $65.1M after-tax unrealized gain on Pinewood Technologies; adjusted net income actually fell 5% year-over-year. Financing Operations income jumped 69% to $32.3 million on record originations of $937 million, and aftersales gross margin expanded 100bps to 59.5% on a same-store basis. The Board raised the quarterly dividend 7% to $0.75 per share and appointed CEO Bryan DeBoer as Chairman, with Sidney DeBoer moving to Vice Chairman; net debt to adjusted EBITDA rose to 3.07x from 2.63x a year ago.

•18d ago

Lithia & Driveway (LAD) Continues Strategic Network Expansion in Texas with Rockwall Hyundai Acquisition and Provides Share Repurchase Update

Lithia & Driveway acquired Rockwall Hyundai in Rockwall, Texas, a dealership expected to add $75 million in annualized revenue and deepen LAD's density in the Dallas-Fort Worth market. The deal was financed with existing on-balance-sheet capacity; the purchase price was not disclosed. Including this deal, LAD's total year-to-date expected annualized revenue acquired now stands at $915 million. On capital return, LAD repurchased roughly 108,000 shares for $40 million in the quarter at a weighted average price of $375 (0.46% of shares outstanding). Year to date, it has spent $541 million to retire about 1.9 million shares at an average of $284 — 8.1% of shares outstanding — with $580 million still authorized.

•2mo ago

Lithia & Driveway Invests in More than 200 Youth Nonprofits Nationwide through Lithia4Kids Community Giving Grants

Lithia & Driveway committed $500,000 to more than 200 youth nonprofits nationwide through its Lithia4Kids Community Giving Grants program. The grants focus on education, advocacy, and youth support, with funding presentations occurring across multiple states throughout the year. Recipients include organizations such as the Ronald McDonald House Charities and Girl Scouts councils, selected from nearly 375 applications.

•2mo ago

Lithia & Driveway Names Scott Cooke Operations President

Lithia & Driveway appointed Scott Cooke as Operations President, bringing 25 years of experience from Toyota Financial Services where he most recently served as President and CEO. Cooke will lead operations in the Southeastern and South Central regions, as well as Driveway Finance Corporation and Finance & Insurance, focusing on operational excellence and shareholder value. The transition aligns with the planned 2027 retirement of current DFC leader Chuck Lietz, ensuring continuity in the company's finance leadership.

•2mo ago

Lithia & Driveway (LAD) Reports Second Quarter Results, Achieves 17% Increase in Diluted Earnings Per Share, 9% Increase in Adjusted Diluted Earnings Per Share, and Raises Quarterly Dividend 23%

Lithia & Driveway reported record second quarter revenue of $9.8 billion, with diluted EPS rising 17% year-over-year to $11.54 and adjusted EPS increasing 9% to $10.03. The company achieved solid operational improvements, including a 120-basis point increase in same-store aftersales gross margin and an 80% surge in financing operations income to $37 million. Capital allocation highlights included a 23% increase in the quarterly dividend to $0.70 per share and the repurchase of $242 million worth of shares, representing 3.7% of outstanding shares.

•3mo ago

Lithia & Driveway (LAD) Announces Share Repurchase Authorization Increase

Lithia & Driveway increased its share repurchase authorization by $500 million, bringing the total remaining authorization to $726 million. The company has already repurchased 1.45 million shares (6.2% of outstanding) for nearly $396 million year-to-date, at a weighted average price of $274. CEO Bryan DeBoer cited conviction in the company’s diversified strategy and regenerative cash flows, viewing current share prices as a compelling opportunity for value-accretive buybacks.

•5mo ago