Shares of Lithia were up 2.7 percent in premarket trading Wednesday to $347.84.
Q3 revenue: $6.17 billion, up 70 percent from a year earlier
Q3 net income: $307.9 million, up 94 percent from a year earlier
Q3 adjusted income: $342 million, up 115 percent from a year earlier
Vehicles sales: Lithia sold 143,256 vehicles, new and used, in the third quarter, up 47 percent. On a same-store basis, Lithia sold 94,186 new and used vehicles in the third quarter, edging up slightly from a year earlier.
Records: Third-quarter revenue.
Lithia, of Medford, Ore., ranks No. 3 on Automotive News‘ list of the top 150 dealership groups based in the U.S., retailing 171,168 new vehicles in 2020. Its April acquisition of Suburban Collection makes Lithia the second-largest group going forward.
