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.
Considering buying LAD stock? Here’s what analysts think:
Read This Next:
Photo via Shutterstock
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.