2024-05-07 06:44:54 ET
Summary
- Lithia Motors' Q1 2024 earnings fell short of expectations, causing a 6.1% drop in share price.
- The company's revenue grew by 22.7% YoY, driven by new and used vehicle retail sales.
- Despite the market's disappointment, LAD stock is undervalued and presents an attractive investment opportunity.
April 24th ended up being a very painful day for shareholders of automotive retailer Lithia Motors ( LAD ). Shares of the company closed down 6.1% after management reported financial results covering the first quarter of the company's 2024 fiscal year. Revenue exceeded forecasts, but earnings fell significantly short of analysts’ expectations. Margin compression has become an issue for the enterprise. And as of yet, it doesn't seem as though this is going to change in the near term....
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Lithia Motors Deserves A Nice Upgrade