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More on Lithia Motors' Q3

Published 10/25/2017, 08:39 AM
© Reuters. More on Lithia Motors' Q3
LAD
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  • Lithia Motors (NYSE:LAD) reports total same-store sales rose 1% in Q3.
  • Same-store sales breakdown: New vehicle retail: +0.8%; Used vehicle retail: +3.6%; Finance and insurance: +0.5%; Service, body and parts: +3.2%.
  • Revenue breakdown: New vehicle retail: $1.56B (+20%); Used vehicle retail: $679.63M (+17%); Used vehicle wholesale: $75.72M (+0.6%); Finance and insurance: $101.04M (+15.2%); Service, body and parts: $265.68M (+22.4%); Fleet and other: $15.19M (+32.7%).
  • Same store F&I per unit -$11 Y/Y to $1,286.
  • Gross margin rate +10 bps to 15%.
  • Adjusted SG&A expense rate grew 20 bps to 10.3%.
  • Adjusted operating margin rate down 20 bps 4.1%.
  • Total retail units sold +18% Y/Y to 80,307 units.
  • FY2017 Guidance: Total revenues: $10B to $10.2B; Same-store sales: +3%; Adjusted EPS: $8.30 to $8.35.
  • FY2018 Guidance: Total revenues: $11B to $11.5B; Adjusted EPS: $9.25.
  • Now read: Daily Insider Ratings Round Up 10/3/17: ZGNX, SOR


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