Lithia & Driveway records $9.95 billion in Q3 revenue

• Lithia & Driveway (NYSE:LAD) reported third-quarter 2026 revenue of $9.95 billion, up 2.8% year over year, while net income increased 34% to $292.9 million.
• Diluted EPS rose 54% to $13.22, but adjusted net income declined 5% to $229.3 million, reflecting a difference between reported earnings and underlying results after adjustments.
• The company announced a $0.75 quarterly dividend, repurchased $85 million in shares and acquired four Memphis dealerships expected to generate $250 million in annualized revenue.

Lithia & Driveway (NYSE:LAD) reported third-quarter 2026 revenue of $9.95 billion, up 2.8% year over year, while net income increased 34% to $292.9 million.

Diluted earnings rose 54% to $13.22 per share, although adjusted diluted EPS increased a more modest 9% to $10.34 after excluding non-core items.

The adjustments included an unrealized gain on Lithia's investment in Pinewood Technologies, which contributed to the difference between reported and adjusted profitability.

Same-store revenue declined 1.4% and operating income slipped 0.3%, while financing operations income increased 69.1% to $32.3 million.

The company raised its quarterly dividend 7% to $0.75 per share, payable November 20 to shareholders of record on November 6, 2026.

Lithia repurchased $85 million of common shares during the quarter and reported approximately $1.4 billion in available liquidity at September 30.

The automotive retailer acquired four dealerships in Memphis in October, adding an estimated $250 million in annualized revenue as it continued expanding its dealership network.