Lithia Motors gains on Q2 results beat

Lithia Motors

26/07/2023 14:59

** Shares of automobile retailer Lithia Motors Inc  LAD.N 
up 9.9% at $321.26 
    ** Co reports Q2 adj. profit of $10.91 per share, beating
analysts' ests of $9.26 per share - Refinitiv
    ** Posts quarterly rev of $8.1 bln, up 12% from a year
earlier; beats ests of $7.9 bln
    ** "We see DFC (Driveway Finance Corporation) and our
omnichannel footprint enhancing our offering and driving us
towards our targets in the 2025 Plan and beyond," says CEO Bryan
DeBoer 
    ** LAD shares up ~60% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))