Compared to Estimates, Lithia Motors (LAD) Q1 Earnings: A Look at Key Metrics

For the quarter ended March 2024, Lithia Motors (LAD) reported revenue of $8.56 billion, up 22.7% over the same period last year. EPS came in at $6.11, compared to $8.44 in the year-ago quarter.

The reported revenue represents a surprise of +0.50% over the Zacks Consensus Estimate of $8.51 billion. With the consensus EPS estimate being $7.85, the EPS surprise was -22.17%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Lithia Motors performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Unit Sales - New vehicle - Retail: 85,683 compared to the 89,350 average estimate based on three analysts.

• Average Selling Price - Used vehicle retail: $27,342 compared to the $27,438.54 average estimate based on three analysts.

• Unit Sales - Used vehicle - Retail: 102,436 compared to the 97,569 average estimate based on three analysts.

• Average Selling Price - New vehicle retail: $46,848 versus $48,358.19 estimated by three analysts on average.

• Fleet and other: $155.90 million versus the five-analyst average estimate of $58.30 million. The reported number represents a year-over-year change of +177.9%.

• Finance and insurance: $340.60 million compared to the $365.24 million average estimate based on five analysts. The reported number represents a change of +7% year over year.

• Used vehicle wholesale: $332.20 million versus the five-analyst average estimate of $322.68 million. The reported number represents a year-over-year change of -6.9%.

• Used vehicle retail: $2.80 billion versus $2.63 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +25.7% change.

• Service, body and parts: $912.80 million versus $876.83 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +24% change.

• New vehicle: $4.01 billion versus the five-analyst average estimate of $4.26 billion. The reported number represents a year-over-year change of +22.4%.

• Revenue by Same Store Operating Metrics- Service, Body and Parts: $740.20 million versus $743.59 million estimated by two analysts on average.

• Revenue by Same Store Operating Metrics- Finance and Insurance: $297.70 million versus $296.30 million estimated by two analysts on average.

View all Key Company Metrics for Lithia Motors here>>>

Shares of Lithia Motors have returned -11.5% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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