Lithia Motors Q3 Performance: Double Digit Revenue Growth, Gross Margin Dip And More
Portfolio Pulse from Anusuya Lahiri
Lithia Motors Inc reported Q3 FY23 sales growth of 13% YoY to $8.28 billion, beating the analyst consensus. Adjusted EPS of $9.25 missed the analyst consensus of $10.08. New vehicle retail revenues increased by 17.5% YoY, and used vehicle retail revenues rose by 6.3%. Gross profit increased 4.3% YoY to $1.37 billion, but the gross margin contracted 140 basis points to 16.6%. The company's Board of Directors approved a dividend of $0.50 per share.
October 25, 2023 | 12:52 pm
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Lithia Motors reported strong Q3 FY23 sales growth but missed on adjusted EPS. The company also announced a dividend of $0.50 per share.
Lithia Motors reported strong sales growth, which is a positive signal for investors. However, the company missed on adjusted EPS, which could be a concern. The announcement of a dividend is also a positive signal for investors. Overall, the impact on the stock is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100