Lithia & Driveway Fields

Lithia & Driveway (LAD) Reports Record Third Quarter Revenue of $8.3 Billion, 13% Increase

Retrieved on: 
Wednesday, October 25, 2023
LAD, Sale, Growth, Telephone, Acquisition, NYSE, Lithia & Driveway Fields, Video game, Cryptocurrency, Beauty salon, Bank

MEDFORD, Ore., Oct. 25, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today reported the highest third quarter revenue in company history.

Key Points: 
  • MEDFORD, Ore., Oct. 25, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today reported the highest third quarter revenue in company history.
  • Third quarter 2023 revenue increased 13% to $8.3 billion from $7.3 billion in the third quarter of 2022.
  • Third quarter 2023 net income attributable to LAD per diluted share was $9.46, a 21% decrease from $11.92 per diluted share reported in the third quarter of 2022.
  • Third quarter 2023 net income was $265 million, a 20% decrease compared to net income of $330 million in the same period of 2022.

Lithia & Driveway (LAD) Schedules Release of Third Quarter 2023 Results

Retrieved on: 
Tuesday, October 3, 2023
Telephone, Lithia & Driveway Fields, NYSE, Rare-earth element, Online shopping

MEDFORD, Ore., Oct. 3, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today announced its third quarter 2023 earnings will be released before the market opens on Wednesday, October 25, 2023.

Key Points: 
  • MEDFORD, Ore., Oct. 3, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today announced its third quarter 2023 earnings will be released before the market opens on Wednesday, October 25, 2023.
  • A conference call to discuss the earnings results is scheduled for the same day at 10:00 a.m. Eastern Time.
  • The conference call may be accessed by telephone at (877) 407-8029.
  • To listen live on our website, or for replay, visit investors.lithiadriveway.com and click on quarterly earnings.

Lithia & Driveway Improves Terms to 35.4p Per Pendragon Share with Significant Future Upside

Retrieved on: 
Monday, October 2, 2023
Software as a service, Lithia, Partnership, London Stock Exchange, Lithia & Driveway Fields, Acquisition, Growth, NYSE, DMS, Holding company, Cryptocurrency, Pendragon

The combined value of the consideration to Pendragon existing shareholders is initially equivalent to approximately 35.4 pence per share with significant upside expected from the strategic partnership and North American joint venture opportunity.

Key Points: 
  • The combined value of the consideration to Pendragon existing shareholders is initially equivalent to approximately 35.4 pence per share with significant upside expected from the strategic partnership and North American joint venture opportunity.
  • The additional cash consideration is expected to increase the cash dividend payable to Pendragon's existing shareholders 49% to 24.5 pence per share.
  • The improved terms and preliminary commitments from Lithia demonstrate support for the transformation of Pinewood Technologies into a standalone business and unlocking significant future potential.
  • Bryan DeBoer, Lithia & Driveway President & CEO, said:
    "Our transaction provides considerable value and certainty for Pendragon shareholders while unlocking Pinewood's ability and massive potential as a standalone, pure-play SaaS business.

Lithia & Driveway to Form Strategic Partnership with Pinewood Technologies and Acquire Pendragon PLC's Fleet Management and UK Motor Divisions

Retrieved on: 
Monday, September 18, 2023
Pendragon, Lithia & Driveway Fields, Partnership, Acquisition, NYSE, Pendragon PLC, Rare-earth element, Airline, Lithia

MEDFORD, Ore., Sept. 18, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD, "Lithia") announced today that it intends to enter a strategic partnership with Pinewood Technologies and acquire the UK motor and fleet management divisions of Pendragon plc ("Pendragon"), the UK's third largest automotive dealership group.

Key Points: 
  • MEDFORD, Ore., Sept. 18, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD, "Lithia") announced today that it intends to enter a strategic partnership with Pinewood Technologies and acquire the UK motor and fleet management divisions of Pendragon plc ("Pendragon"), the UK's third largest automotive dealership group.
  • This acquisition will round out Lithia's presence in the UK market and is expected to generate over $4.5 billion USD in annual revenues.

Risk & Insurance Names Three CorVel Clients as Winners of 2023 Risk All-Star Awards

Retrieved on: 
Tuesday, July 18, 2023
Risk, Lithia, CorVel Corporation, Patient, Risk management, Carhartt, RMIS, Lithia & Driveway Fields, Newsletter, Operational stress injury, Management

FORT WORTH, Texas, July 18, 2023 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL), a national provider of risk management solutions, today announced that three of the company’s partners were named 2023 Risk All-Stars by Risk & Insurance, including risk leaders from Fairfax County, Virginia, Carhartt, and Lithia & Driveway.

Key Points: 
  • FORT WORTH, Texas, July 18, 2023 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL), a national provider of risk management solutions, today announced that three of the company’s partners were named 2023 Risk All-Stars by Risk & Insurance, including risk leaders from Fairfax County, Virginia, Carhartt, and Lithia & Driveway.
  • The award program recognizes emerging risks and mitigation strategies and highlights outstanding individuals responsible for managing risk or claims for their employers in a way that drives the industry forward.
  • The team utilized feedback provided by AI-driven VelocityEHS Ergonomics, based on video footage of employees performing their duties.
  • The Risk & Insurance All-Stars winners were announced in the July 2023 issue of Risk & Insurance® and are featured on their official website , in an eNewsletter, and in the digital edition of the magazine.

Lithia & Driveway (LAD) Schedules Release of Second Quarter 2023 Results

Retrieved on: 
Wednesday, July 5, 2023
Telephone, Lithia & Driveway Fields, NYSE, Rare-earth element, Online shopping

MEDFORD, Ore., July 5, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today announced its second quarter 2023 earnings will be released before the market opens on Wednesday, July 26, 2023.

Key Points: 
  • MEDFORD, Ore., July 5, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today announced its second quarter 2023 earnings will be released before the market opens on Wednesday, July 26, 2023.
  • A conference call to discuss the earnings results is scheduled for the same day at 10:00 a.m. Eastern Time.
  • The conference call may be accessed by telephone at (877) 407-8029.
  • To listen live on our website, or for replay, visit investors.lithiadriveway.com and click on quarterly earnings.

LITHIA & DRIVEWAY (LAD) EXPANDS U.S. FOOTPRINT IN ATLANTA MARKET

Retrieved on: 
Wednesday, June 21, 2023
Lithia & Driveway Fields, LAD, Acquisition, NYSE

MEDFORD, Ore., June 21, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced the purchase of Wade Ford in Smyrna, Georgia, expanding its reach in the Southeast Region and adding an estimated $285 million in annualized revenue.

Key Points: 
  • MEDFORD, Ore., June 21, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced the purchase of Wade Ford in Smyrna, Georgia, expanding its reach in the Southeast Region and adding an estimated $285 million in annualized revenue.
  • "We're thrilled to have the team at Wade Ford join the LAD family as we continue to focus on network development in the U.S.
  • This is our second store in Atlanta and continues the build out of our network of southeastern locations from Virginia to Florida," said Bryan DeBoer, Lithia & Driveway President and CEO.
  • Their strong reputation with customers and community support allows us to expand our operations in this highly competitive market."

Lithia & Driveway Welcomes Priority Automotive and Expands Revenue in the Mid-Atlantic Region by $1.2 Billion

Retrieved on: 
Tuesday, June 13, 2023
Lithia, Ford, Toyota, Lithia & Driveway Fields, Acquisition, Hyundai, Chevrolet, Growth, Environment, NYSE, Priority, Driveway, Lists of United States Congress

MEDFORD, Ore., June 13, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced the purchase of 13 locations from the Priority Automotive Group in Virginia, expanding its footprint in the strong performing Mid-Atlantic Region.

Key Points: 
  • MEDFORD, Ore., June 13, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced the purchase of 13 locations from the Priority Automotive Group in Virginia, expanding its footprint in the strong performing Mid-Atlantic Region.
  • These exceptional stores are projected to generate more than $1.2 billion in annualized revenue.
  • Lithia & Driveway expands its footprint in Mid-Atlantic and is projected to generate more than $1.2 billion.
  • "All of us at Priority are pleased and excited to join forces with Lithia & Driveway.

Lithia & Driveway (LAD) Schedules Release of First Quarter 2023 Results

Retrieved on: 
Monday, April 3, 2023
Telephone, Lithia & Driveway Fields, NYSE, Online shopping

MEDFORD, Ore., April 3, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today announced its first quarter 2023 earnings will be released before the market opens on Wednesday, April 19, 2023.

Key Points: 
  • MEDFORD, Ore., April 3, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today announced its first quarter 2023 earnings will be released before the market opens on Wednesday, April 19, 2023.
  • A conference call to discuss the earnings results is scheduled for the same day at 10:00 a.m. Eastern Time.
  • Lithia & Driveway (NYSE: LAD) first quarter 2023 earnings will be released on Wednesday, April 19.
  • To listen live on our website, or for replay, visit investors.lithiadriveway.com and click on quarterly earnings.

Profits at Auto Dealerships Reached a Peak in 2022 - Driving High Demand for Acquisitions and Record-High Prices for Some Franchises

Retrieved on: 
Friday, March 17, 2023
Other Retail, Automotive, Finance, General Automotive, Consulting, Automotive Manufacturing, Specialty, Professional Services, Manufacturing, Retail, Most, Lithia, Partner, Value, Lithia & Driveway Fields, Record, Robin, Sale, Acquisition, NADA, Pandemic, Video game, Car dealership, Financial services, Security (finance), Stellantis

Profits reached an estimated $6.5M per location for dealerships owned by the public auto retailers, more than triple what they were before the Pandemic.

Key Points: 
  • Profits reached an estimated $6.5M per location for dealerships owned by the public auto retailers, more than triple what they were before the Pandemic.
  • Public dealer groups acquired 40 stores in 2022, making it the 2nd most active year for the public companies since 2015.
  • Most public companies will be looking for additional acquisitions in 2023 since their share prices have recovered in the early part of 2023.
  • The result of high profits and strong demand is that we have seen record-high prices being paid for dealerships in the last six months.