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Stock impact report

Lithia Motors Reports Preliminary First Quarter 2020 Results

Lithia Motors, Inc. (LAD) 
Last lithia motors, inc. earnings: 4/22 07:00 am Check Earnings Report
US:NYSE Investor Relations: lithiainvestorrelations.com
Company Research Source: Business Wire
MEDFORD, Ore.--(BUSINESS WIRE)--Lithia Motors, Inc. (NYSE: LAD) today reported preliminary financial results for the three months ended March 31, 2020. Based on preliminary information available today, Lithia expects first quarter 2020 net income to be in the range of $45.5 million to $47.0 million and net income per diluted share between $1.95 to $2.00.First Quarter 2020-over-First Quarter 2019 Preliminary Highlights:Same store new vehicle sales expected to decrease between 10% to 11%Same store used vehicle retail sales expected to increase between 2% to 3%Same store F&I per retail unit expected to be between $1,525 to $1,575Same store service, body, and parts sales expected to increase between 0% to 1%Same store SG&A as a percentage of gross profit expected to be between 74% to 76%For the first two months of 2020 prior to the COVID-19 pandemic, same store new vehicle revenue increased 4%, used vehicle revenues increased 22%, F&I increased 18%, and service, body, and parts increa Show less Read more
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