Quarterly ResultApr 29, 2026, 05:32 AM
LAD Q1 Revenue $9.3B (Record); Adj. EPS $7.34; Repurchases $259M
AI Summary
Lithia & Driveway (LAD) reported record first quarter 2026 revenues of $9.3 billion, a 1% increase year-over-year. Adjusted diluted earnings per share decreased 7% to $7.34, while GAAP diluted EPS fell 46% to $4.28, primarily due to an unrealized loss on an investment. The company repurchased $259 million of shares, representing 4.0% of outstanding shares, and declared a quarterly dividend of $0.57 per share. Operational highlights included a 4.6% increase in same-store used vehicle revenue and a 5.7% increase in same-store aftersales gross profit, alongside record originations of $840 million from Driveway Finance Corporation.
Key Highlights
- Record Q1 2026 revenue of $9.3 billion, up 1% YoY.
- Adjusted diluted EPS of $7.34, down 7% from Q1 2025.
- GAAP diluted EPS of $4.28, down 46% from Q1 2025.
- Repurchased $259 million of shares, representing 4.0% of outstanding shares.
- Declared a quarterly dividend of $0.57 per share.
- Used vehicle revenue increased 4.6% on a same-store basis.
- Aftersales gross profit increased 5.7% on a same-store basis.
- Driveway Finance Corp. achieved record originations of $840 million.