Lithia Motors sees 'notable improvements' in vehicle sales each week in May [MarketWatch]
Lithia Motors, Inc. (LAD)
Last lithia motors, inc. earnings: 4/22 07:00 am
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Source: MarketWatch
Lithia Motors Inc. said Tuesday that it has seen "notable improvements" across its business lines in recent weeks, after experiencing sales declines in March and April as a result of the COVID-19 pandemic. The automotive retailer said May same-store vehicle unit sales fell 7% from a year ago, with new vehicle unit sales decreasing 20% and used vehicle unit sales rising 8%. Total vehicle unit sales witnessed weekly sequential improvements in May as shelter-in-place policies eased. During the first week of May, same-store new vehicle unit sales decreased 28% and used vehicle unit sales fell 5%, but by the end of the last week of May, new vehicle unit sales improved to a 16% decrease and used vehicle unit sales swung to an increase of 22%. Same-store web traffic grew nearly 40% for the last week of May. Chief Executive Bryan DeBoer said Lithia was able to generate positive earnings and cash flow "during these unprecedented times," which will allow the company to accelerate its growth pla
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News
- Lithia Motors, Inc. (NYSE: LAD) had its price target lowered by analysts at JPMorgan Chase & Co. from $285.00 to $270.00. They now have a "neutral" rating on the stock.MarketBeat
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- Lithia Motors, Inc. Just Missed EPS By 26%: Here's What Analysts Think Will Happen Next [Yahoo! Finance]Yahoo! Finance
LAD
Earnings
- 4/24/24 - Miss
LAD
Sec Filings
- 5/9/24 - Form 4
- 5/3/24 - Form 8-K
- 5/1/24 - Form 144
- LAD's page on the SEC website