02:05 PM EDT, 08/01/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

Lithia Motors ( LAD ) shares rose 7.3% in recent Thursday trading after the company posted its Q2 results and announced the appointment of a new chief operating officer.

The company reported Q2 adjusted earnings Thursday of $7.87 per diluted share, down from $10.96 a year earlier.

Analysts polled by Capital IQ expected $7.04.

Revenue for the quarter ended June 30 was $9.23 billion, compared with $8.11 billion a year earlier.

Analysts surveyed by Capital IQ expected $9.28 billion.

The company maintained a quarterly dividend of $0.53 per share, payable on Aug. 23 to shareholders of record on Aug. 9.

Moreover, the company promoted Chief Customer Officer Adam Chamberlain to chief operating officer.

Chris Holzshu, who has been the company's COO since 2019, will continue as an executive vice president.

Meanwhile, Dianna du Preez, who joined the company in 2023 as vice president of driveway operations, was named chief customer officer.

Price: 296.46, Change: +20.13, Percent Change: +7.28