Lithia Motors reported Q1 adjusted earnings of $7.34 per share, surpassing the $6.88 consensus by $0.46.
Revenue reached $9.27 billion, a 1% YoY rise and modestly above the $9.24 billion forecast.
Adjusted net income dropped 18% to $173.3 million, while aftersales revenue rose 3.8% and gross margin expanded to 58.7%.
Lithia repurchased $259 million of stock (4% of shares), declared a $0.57 dividend, holds $1.4 billion cash, and expects acquisitions to add $425 million revenue.