10-Q · April 29, 2026
Lithia Motors (LAD) reported Q1 2026 results with revenues of $9.27 billion and EPS of $7.34, both exceeding market expectations. Notable growth in used vehicle sales and aftersales drove the revenue increase compared…
Earnings analysis · 10-Q
LAD earnings analysis
Filed October 28, 2026 · Our reading of the company's report
The latest report
The supplied 10-Q information confirms Q3 revenue of $9.947 billion and diluted EPS of $10.34, but does not include the financial statements, segment disclosures, cash-flow statement, or MD&A needed to assess margins,…
Read full summary
The supplied 10-Q information confirms Q3 revenue of $9.947 billion and diluted EPS of $10.34, but does not include the financial statements, segment disclosures, cash-flow statement, or MD&A needed to assess margins, working capital, free cash flow, or operating trends. Capital allocation remained active, with 246,317 shares repurchased at an average price of $345.41 and $535.442 million of authorization remaining. The filing reports no material changes in market risks and provides no quantitative forward guidance, supporting a neutral assessment.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $10.34
What stood out
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Q3 revenue and EPS reported
Third-quarter revenue was $9.947 billion and diluted EPS was $10.34, based on the reported earnings data supplied with the filing metadata.
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Meaningful share repurchases
Lithia repurchased 246,317 shares during Q3 2026 at an average price of $345.41 per share, including 246,236 shares under its announced program.
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Expanded repurchase authorization
The board’s May 26, 2026 authorization added $500 million and brought total repurchase authorizations to $3.7 billion, with no expiration dates.
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Repurchase capacity remains substantial
The company had $535.442 million of remaining repurchase authorization at the end of September, after $84.558 million of authorization was used during August and September based on the disclosed monthly balances.
What to watch
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Potential liquidity use from buybacks
The company repurchased 246,317 shares at an average price of $345.41 during Q3 while retaining $535.442 million of authorization, representing a material potential use of liquidity if further repurchases continue.
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Ongoing litigation uncertainty
Lithia states that it is party to numerous legal proceedings and that it cannot predict their resolution with certainty, although it does not anticipate a material adverse effect.
Management's outlook
No quantitative revenue or EPS outlook was provided in the supplied 10-Q text; the filing states there were no material changes in reported market risks since the 2025 Form 10-K.
Earlier filings 4
10-K · February 25, 2026
Lithia (Lithia & Driveway) emphasizes an omnichannel, acquisition-driven growth strategy centered on its 455-store network, Driveway/GreenCars e-commerce platforms, and captive finance (DFC). The 2025 10-K highlights…
10-Q · July 30, 2025
Lithia reported Q2 2025 results that beat consensus: revenue of $9,583.0 million and diluted EPS of $9.87. Gross margin and operating margin were essentially stable (15.5% and ~4.4%), operating profit increased to…
10-Q · April 24, 2025
Lithia reported Q1 revenue of $9,178.3 million, up 7.2% year-over-year, with gross margin modestly compressing to ~15.4% while operating margin expanded to ~4.4%. Diluted EPS rose to $7.94 (vs $5.89YE-2024 Q1),…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.