Overview

* Lithia & Driveway Q3 revenue of $9.68 bln beats analyst expectations

* Adjusted EPS for Q3 beats consensus, reflecting strong operational performance

* Company repurchased 5.1% of outstanding shares in Q3

* Q3 adjusted results exclude a $0.89 per diluted share impact resulting from non-core items

Outlook

* Company did not provide specific guidance for future quarters or full year in its press release

Result Drivers

* SAME-STORE SALES GROWTH - Co reports 7.7% increase in same-store revenue, with used retail revenue up 11.8%

* AFTERSALES PROFITABILITY - Aftersales gross profit rose 9.1% on a same-store basis

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $9.68 $9.45

Revenue bln bln (10

Analysts

)

Q3 Beat $9.50 $8.51

Adjusted (10

EPS Analysts

)

Q3 EPS $8.61

Q3 Beat $241 mln $220.26

Adjusted mln (8

Net Analysts

Income )

Q3 $0.55

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the auto vehicles, parts & service retailers peer group is "buy"

* Wall Street's median 12-month price target for Lithia Motors Inc ( LAD ) is $385.00, about 19% above its October 21 closing price of $311.87

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)