2020-04-22 07:07:43 LAD Lithia Motors
04/22/20 04/2207:07 04/22/2007:07 | Lithia Motors reports Q1 adj. EPS $2.01, consensus $2.05Reports Q1 revenue $2.8B, consensus $2.93B. Q1 same store new vehicle sales decreased 10.6% and Q1 same store used vehicle retail sales increased 2.7%."First quarter results were driven by strength in January and February, with same store new, used, F&I and service, body and part sales up 4%, 22%, 18% and 6% respectively," said Bryan DeBoer, president and CEO. "These results continued through early March before being negatively impacted by varying levels of shelter in place policies enacted in most states due to COVID-19. Our decentralized operating structure has allowed our teams to respond independently to these differences with decisive actions aligned with their local market conditions." |
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