Lithia Motors Inc. (NYSE:LAD) reported downbeat sales for the first quarter on Wednesday.
The company reported first-quarter FY25 sales growth of 7.2% year-on-year to $9.18 billion, missing the analyst consensus estimate of $9.26 billion.
New vehicle, same-store units grew by 3.6%. New vehicle retail revenues increased 9.1% Y/Y, and used vehicle retail revenues climbed 4.2%. Adjusted EPS of $7.66 missed the consensus estimate of $7.69.
“We achieved profitable growth year over year in each month this quarter as we grew market share and drove operating efficiencies across our network and adjacencies,” said President and CEO Bryan DeBoer.
Lithia Motors shares gained 4.7% to trade at $291.30 on Thursday.
These analysts made changes to their price targets on Lithia Motors following earnings announcement.
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