LAD - Lithia Motors Non-GAAP EPS of $11.96 beats by $1.62 revenue of $6.71B beats by $370M

Lithia Motors press release (NYSE:LAD): Q1 Non-GAAP EPS of $11.96 beats by $1.62. Revenue of $6.71B (+54.6% Y/Y) beats by $370M. New vehicle retail revenues increased 39.6%; Used vehicle retail revenues increased 65.2%. Driveway reached 1M monthly unique visitors. Bryan DeBoer, Lithia & Driveway's President and CEO said, "Our highly adaptable model generated significant free cash flows and Driveway and DFC each achieved impressive milestones. Combined with our teams' unique ability to quickly integrate acquired businesses, our path forward to being a diversified, omni-channel retailer has never been clearer. We have deployed incremental capital to Driveway and DFC while maintaining our accelerated acquisition cadence and providing immediate shareholder return through opportunistic share repurchases. These actions are transforming LAD and bringing us closer to the day when each billion dollars of revenues produces significantly more than a dollar of EPS."

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Lithia Motors Non-GAAP EPS of $11.96 beats by $1.62, revenue of $6.71B beats by $370M