Lithia Motors posts $10.03 EPS, exceeding expectations by $1.31, as revenue rises 2.1% year-over-year.
Lithia Motors reported second-quarter non-GAAP earnings per share of $10.03, surpassing estimates by $1.31. Revenue reached $9.8 billion, a 2.1% year-over-year increase and $160 million above forecasts.
The company saw a 20% sequential rise in used retail gross profit per unit, climbing $339. Aftersales gross profit grew 3.1%, with a gross margin of 59.2%.
Shares may react to the earnings beat and improved profitability metrics in after-hours trading.