Mon, Feb 24, 10:17 PM (61 days ago)
**Lithia Motors, Inc. (LAD) 2024 10-K Summary:** Lithia Motors, Inc. reported strong financial performance for the year ending December 31, 2024, with total revenues of $36,188.2 million, up 16.6% from 2023, driven by acquisition-related growth and increased new vehicle sales. However, net income declined to $802.0 million due to margin normalization and rising SG&A expenses, which increased to 67.5% of gross profit. The average earnings per share (EPS) was $29.65, reflecting a decrease from the previous year. Strategically, Lithia expanded its footprint by acquiring 146 stores, investing $1.1 billion, and anticipating an addition of $5.9 billion in annualized revenues from these acquisitions. The company maintained a diversified product and service offering, enhancing its market position. Despite robust growth, risks include economic fluctuations, rising interest rates affecting vehicle affordability, and competitive pressures from both traditional and online automotive retailers. The company had a solid liquidity position with $1.4 billion available as of year-end. Looking forward, Lithia aims to optimize its operations and capitalize on digital transformation while navigating challenges posed by evolving market dynamics and consumer preferences.