Key Highlights
-- Record first quarter revenues of $9.3 billion
-- Used vehicle revenue increased 4.6% on a same store basis in the quarter
-- Used retail GPUs increased 9%, or $133, sequentially
-- Aftersales revenue increased 3.8%, gross profit increased by 5.7% and
gross margin was 58.7%, a 100-basis point increase, on a same-store basis
-- Driveway Finance Corporation achieved record originations of $840 million,
with an 18.0% penetration rate and an average FICO score of 750 in the
quarter
-- First quarter diluted earnings per share of $4.28 and adjusted diluted
earnings per share of $7.34
-- Repurchased $259 million of shares, representing 4.0% of outstanding
shares in the quarter
MEDFORD, Ore., April 29, 2026 (GLOBE NEWSWIRE) -- Lithia & Driveway $(LAD)$, the largest global automotive retailer, today reported financial results for the first quarter of 2026.
"Our team drove strong results across our platform and sequential growth in earnings, delivering higher revenues and improved GPU in used vehicles, meaningful growth in aftersales, and growing penetration in Driveway Finance," said Bryan DeBoer, President and CEO. "Capital discipline remains a key focus, and we repurchased nearly 4% of our shares at prices well below intrinsic value. Our balance sheet and diversified platform give us a durable foundation to successfully navigate any market cycle."
First Quarter 2026 Operational Summary
First quarter 2026 revenue increased 1% to $9.3 billion from $9.2 billion in the first quarter of 2025.
First quarter 2026 diluted earnings per share attributable to LAD was $4.28, a 46% decrease from $7.94 per share reported in the first quarter of 2025. After adjusting for the unrealized loss on our investment in Pinewood Technologies Group PLC and other non-core items, adjusted diluted earnings per share attributable to LAD for the first quarter of 2026 was $7.34, a 7% decrease compared to $7.93 per share in the same period of 2025.
First quarter 2026 net income was $102.0 million, a 51.7% decrease compared to net income of $211.2 million in the first quarter of 2025. After adjusting for the unrealized loss on our investment in Pinewood Technologies Group PLC and other non-core items, adjusted net income for the first quarter 2026 was $173.3 million, an 18% decrease compared to adjusted net income of $210.9 million for the same period of 2025.
The financial measures discussed in this release include both GAAP and non-GAAP measures. See "Reconciliation of Certain Non-GAAP Measures".
Corporate Development
Stores acquired during the first quarter are expected to generate $425 million in annualized revenues.
Balance Sheet Update
LAD ended the first quarter with approximately $1.4 billion in cash and cash equivalents, marketable securities, and availability on our revolving lines of credit.
Dividend Payment and Share Repurchases
The Board of Directors approved a dividend of $0.57 per share related to first quarter 2026 financial results. The dividend is expected to be paid on May 22, 2026 to shareholders of record on May 8, 2026.
During the first quarter of 2026, we repurchased approximately 942,000 shares at a weighted average price of $274.62. Under the current share repurchase authorization approximately $362.9 million remains available.
First Quarter Earnings Conference Call and Updated Presentation
The first quarter 2026 conference call may be accessed at 10:00 a.m. ET today by telephone at 877-407-8029. An updated presentation highlighting first quarter 2026 results has been added to our investor relations website. To listen live on our website or for replay, visit investors.lithiadriveway.com and click on Quarterly Earnings.
About Lithia & Driveway (LAD)
Lithia & Driveway (NYSE: LAD) is the largest global automotive retailer providing a wide array of products and services throughout the vehicle ownership lifecycle. Simple, convenient, and transparent experiences are offered through our comprehensive network of physical locations, e-commerce platforms, captive finance solutions, fleet management offerings, and other synergistic adjacencies. We deliver consistent, profitable growth in a massive and unconsolidated industry. Our highly diversified and competitively differentiated design provides us the flexibility and scale to pursue our vision to modernize personal transportation solutions wherever, whenever and however consumers desire.
Sites
www.lithia.com
investors.lithiadriveway.com
www.lithiacareers.com
www.driveway.com
www.greencars.com
www.drivewayfinancecorp.com
Lithia & Driveway on Facebook
https://www.facebook.com/LithiaMotors
https://www.facebook.com/DrivewayHQ
Lithia & Driveway on X
https://x.com/lithiamotors
https://x.com/DrivewayHQ
https://x.com/GreenCarsHQ
Lithia & Driveway on LinkedIn
https://www.linkedin.com/company/lithia-motors/
Lithia & Driveway on YouTube
https://www.youtube.com/@Lithia_Motors/featured
Forward-Looking Statements
Certain statements in this presentation, and at times made by our officers and representatives, constitute forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Generally, you can identify forward-looking statements by terms such as "project," "outlook," "target," "may," "will," "would," "should," "seek," "expect," "plan," "intend," "forecast," "anticipate," "believe," "estimate," "predict," "potential," "likely," "ensure," "goal," "strategy," "future," "maintain, " and "continue" or the negative of these terms or other comparable terms. Examples of forward-looking statements in this presentation include, among others, statements regarding:
-- The profitability of our strategy and growth
-- Future market conditions, including anticipated vehicle and other sales,
gross profit and inventory supply
-- Our business strategy and plans, including our achieving our long-term
financial targets
-- The growth, expansion, make-up and success of our network, including our
finding accretive acquisitions that meet our target valuations and
acquiring additional stores
-- Annualized revenues from acquired stores or achieving target returns
-- The growth and performance of our Driveway e-commerce home solution and
Driveway Finance Corporation (DFC), their synergies and other impacts on
our business and our ability to meet Driveway and DFC-related targets
-- The impact of sustainable vehicles and other market and regulatory
changes on our business, including evolving vehicle distribution models
-- Our capital allocations and uses and levels of capital expenditures in
the future
-- Expected operating results, such as improved store performance, continued
improvement of selling, general and administrative expenses as a
percentage of gross profit and any projections
-- Our anticipated financial condition and liquidity, including from our
cash and the future availability of our credit facilities, unfinanced
real estate and other financing sources
-- Our continuing to purchase shares under our share repurchase program
-- Our compliance with financial and restrictive covenants in our credit
facilities and other debt agreements
-- Our programs and initiatives for team member recruitment, training, and
retention
-- Our strategies and targets for customer retention, growth, market
position, operations, financial results and risk management
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements in this presentation. Therefore, you should not rely on any of these forward-looking statements. The risks and uncertainties that could cause actual results to differ materially from estimated or projected results include, without limitation:
-- Future national and local economic and financial conditions, including as
a result of inflation, interest rates, tariffs, governmental actions,
programs and spending, and public health issues
-- The market for dealerships, including the availability of stores to us
for an acceptable price
-- Changes in customer demand, levels of consumer debt, consumer confidence
and manufacturer sales incentives, and the electric vehicle landscape and
the impact of evolving digital technologies
-- Changes in our relationship with, and the financial and operational
stability of, OEMs and other suppliers, and vehicle delivery models
-- Changes in the competitive landscape, including through technology and
our ability to deliver new products, services and customer experiences
and a portfolio of in-demand and available vehicles
-- Risks associated with our indebtedness, including available borrowing
capacity, interest rates, compliance with financial covenants and ability
to refinance or repay indebtedness on favorable terms
-- The adequacy of our cash flows and other conditions which may affect our
ability to fund capital expenditures, obtain favorable financing and pay
our quarterly dividend at planned levels
-- Disruptions to our technology network including computer systems, as well
as natural events such as severe weather or man-made or other disruptions
of our operating systems, facilities or equipment
-- Government regulations and legislation
-- The risks set forth throughout "Part II, Item 7. Management's Discussion
and Analysis of Financial Condition and Results of Operations" and in
"Part I, Item 1A. Risk Factors" of our most recent Annual Report on Form
10-K, and in "Part II, Item 1A. Risk Factors" of our Quarterly Reports on
Form 10-Q, and from time to time in our other filings with the SEC.
Any forward-looking statement made by us in this presentation is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by law, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Non-GAAP Financial Measures
All "adjusted" financial measures in this presentation are non-GAAP financial measures, as are EBITDA and net debt. Non-GAAP measures do not have definitions under GAAP and may be defined differently by and not comparable to similarly titled measures used by other companies. We caution you not to place undue reliance on such non-GAAP measures and to consider them together with the most directly comparable GAAP measures. We present cash flows from operations in the attached tables, adjusted to include the change in non-trade floor plan debt to improve the visibility of cash flows related to vehicle financing. As required by SEC rules, we have reconciled these measures to the most directly comparable GAAP measures in the attachments to this release. We believe the non-GAAP financial measures we present improve the transparency of our disclosures; provide a meaningful presentation of our results from core business operations, because they exclude items not related to core business operations and other non-cash items; and improve the period-to-period comparability of our results from core business operations. These presentations should not be considered an alternative to GAAP measures.
LAD
Consolidated Statements of Operations (Unaudited)
(In millions except per share data)
%
Three months ended
March 31, Increase
--------------------------
2026 2025 (Decrease)
------- ------- ------------
Revenues:
New vehicle $4,379.4 $4,580.4 (4.4 ) %
Used vehicle 3,489.4 3,250.5 7.3
Finance and insurance 359.7 364.3 (1.3)
Aftersales 1,042.9 983.1 6.1
------- -------
Total revenues 9,271.4 9,178.3 1.0%
Cost of sales:
New vehicle 4,119.8 4,287.0 (3.9)
Used vehicle 3,301.7 3,061.8 7.8
Aftersales 428.2 419.1 2.2
------- -------
Total cost of sales 7,849.7 7,767.9 1.1
------- -------
Gross profit 1,421.7 1,410.4 0.8%
Finance operations income 21.3 12.5 70.4%
SG&A expense 1,037.4 952.7 8.9
Depreciation and
amortization 69.8 63.9 9.2
------- -------
Income from operations 335.8 406.3 (17.4 ) %
Floor plan interest expense (55.9) (57.1) (2.1)
Other interest expense (70.3) (65.5) 7.3
Other (expense) income (67.6) 0.8 NM
------- -------
Income before income taxes 142.0 284.5 (50.1 ) %
Income tax expense (40.0) (73.3) (45.4)
Income tax rate 28.2% 25.8%
------- -------
Net income $ 102.0 $ 211.2 (51.7 ) %
Net income attributable to
non-controlling interests (1.6) (1.7) (5.9 ) %
Net income attributable to
LAD $ 100.4 $ 209.5 (52.1 ) %
======= =======
Diluted earnings per share
attributable to LAD:
Net income per share $ 4.28 $ 7.94 (46.1 ) %
Diluted shares outstanding 23.4 26.4 (11.4 ) %
(NM - not meaningful)
LAD
Key Performance Metrics (Unaudited)
%
Three months ended
March 31, Increase
--------------------------
2026 2025 (Decrease)
------- ------- ------------
Gross margin
----------------------------
New vehicle 5.9% 6.4% (50 )bps
Used vehicle 5.4 5.8 (40)
Finance and insurance 100.0 100.0 --
Aftersales 58.9 57.4 150
Gross profit margin 15.3 15.4 (10)
Unit sales
----------------------------
New vehicle 94,787 99,503 (4.7 ) %
Used vehicle retail 110,151 107,326 2.6
Average selling price
(excluding agency)
----------------------------
New vehicle $ 46,878 $ 47,209 (0.7 ) %
Used vehicle retail 28,464 27,198 4.7
Average gross profit per
unit
----------------------------
New vehicle $ 2,739 $ 2,950 (7.2 ) %
Used vehicle retail 1,688 1,769 (4.6)
Finance and insurance 1,807 1,804 0.2
Total vehicle(1) 3,938 4,093 (3.8)
Revenue mix
----------------------------
New vehicle 47.2% 49.9%
Used vehicle 37.6 35.4
Finance and insurance, net 3.9 4.0
Aftersales 11.3 10.7
Gross Profit Mix
----------------------------
New vehicle 18.3% 20.8%
Used vehicle 13.2 13.4
Finance and insurance, net 25.3 25.8
Aftersales 43.2 40.0
Adjusted As reported
------------------------ ------------------------
Three months ended Three months ended
March 31, March 31,
------------------------ ------------------------
Other metrics 2026 2025 2026 2025
-------------------- ------ --- ------ ---
SG&A as a % of
revenue 11.0% 10.5% 11.2% 10.4%
SG&A as a % of gross
profit 71.5 68.2 73.0 67.5
Operating profit as
a % of revenue 3.8 4.3 3.6 4.4
Operating profit as
a % of gross
profit 25.1 28.2 23.6 28.8
Pretax margin 2.5 3.1 1.5 3.1
Net profit margin 1.9 2.3 1.1 2.3
(1) Includes the sales and gross profit related to new, used, and finance and insurance and unit sales for new and used retail
LAD
Same Store Operating Highlights (Unaudited)
%
Three months ended
March 31, Increase
--------------------------
2026 2025 (Decrease)
------- ------- ------------
Revenues
----------------------------
New vehicle $4,156.8 $4,474.3 (7.1 ) %
Used vehicle 3,302.0 3,157.4 4.6
Finance and insurance 345.2 358.7 (3.8)
Aftersales 992.1 955.8 3.8
------- -------
Total revenues 8,796.1 8,946.2 (1.7)
Gross profit
----------------------------
New vehicle $ 246.8 $ 287.8 (14.2 ) %
Used vehicle 178.8 187.3 (4.5)
Finance and insurance 345.2 358.7 (3.8)
Aftersales 582.6 551.1 5.7
------- -------
Total gross profit 1,353.4 1,384.9 (2.3)
Gross margin
----------------------------
New vehicle 5.9% 6.4% (50 )bps
Used vehicle 5.4 5.9 (50)
Finance and insurance 100.0 100.0 --
Aftersales 58.7 57.7 100
Gross profit margin 15.4 15.5 (10)
Unit sales
----------------------------
New vehicle 90,671 97,617 (7.1 ) %
Used vehicle retail 105,541 104,961 0.6
Average selling price
(excluding agency)
----------------------------
New vehicle $ 46,545 $ 47,018 (1.0 ) %
Used vehicle retail 28,142 27,019 4.2 Average gross profit per unit ---------------------------- New vehicle $ 2,722 $ 2,949 (7.7 ) % Used vehicle retail 1,680 1,795 (6.4) Finance and insurance 1,813 1,812 0.1 Total vehicle(1) 3,928 4,116 (4.6)
(1) Includes the sales and gross profit related to new, used, and finance and insurance and unit sales for new and used retail
LAD
Other Highlights (Unaudited)
Three months ended March 31,
2026
---------------------------------
Key Performance by Country Total Revenue Total Gross Profit
--------------------------- ------------------
United States 75.6% 80.9%
United Kingdom 21.4% 16.7%
Canada 3.0% 2.4%
As of
----------------------------------
March 31, December 31, March 31,
Days' Supply(1) 2026 2025 2025
----------------------- --------- ------------ ---------
New vehicle inventory 49 54 43
Used vehicle inventory 47 48 44
(1) Days' supply in inventory is calculated using on-ground inventory unit levels and a 30-day total unit sales volumes, both at the end of each reporting period.
Selected Financing Operations Financial Information
Three months ended March 31,
($ in millions) 2026 %(1) 2025 %(1)
------- ----- ------- -------
Interest and fee income $ 110.5 9.0 $ 94.4 9.4
Interest expense (51.6) (4.2) (48.1) (4.8)
------- ---- ------- ----
Total interest
margin $ 58.9 4.8 $ 46.3 4.6
Lease income 23.9 20.5
Lease costs (20.2) (16.8)
------- -------
Lease income, net 3.7 3.7
Provision expense (26.4) (2.1) (25.5) (2.5)
Other financing
operations expenses (14.9) (1.2) (12.0) (1.2)
------- -------
Finance operations
income $ 21.3 $ 12.5
Total average managed
finance receivables $5,004.0 $4,062.1
(1) Annualized percentage of total average managed finance receivables
LAD
Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
March 31, 2026 December 31, 2025
---------------- -------------------
Cash, restricted cash, and cash
equivalents $ 421.3 $ 341.8
Trade receivables, net 1,261.4 1,134.1
Inventories, net 6,193.2 6,119.6
Other current assets 275.9 262.5
------------ ---------------
Total current assets $ 8,151.8 $ 7,858.0
Property and equipment, net 4,994.5 4,936.0
Finance receivables, net 5,012.9 4,755.1
Intangibles 5,242.0 5,254.1
Other non-current assets 2,348.5 2,304.0
------------ ---------------
Total assets $ 25,749.7 $ 25,107.2
============ ===============
Floor plan notes payable 6,284.5 5,008.9
Other current liabilities 1,915.2 1,687.8
------------ ---------------
Total current liabilities $ 8,199.7 $ 6,696.7
Long-term debt, less current
maturities 6,448.8 7,274.9
Non-recourse notes payable, less
current maturities 2,565.8 2,404.2
Other long-term liabilities and
deferred revenue 2,125.9 2,103.0
------------ ---------------
Total liabilities $ 19,340.2 $ 18,478.8
------------ ---------------
Equity 6,409.5 6,628.4
------------ ---------------
Total liabilities and equity $ 25,749.7 $ 25,107.2
============ ===============
LAD
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Three months ended March 31,
--------------------------------------
Cash flows from operating
activities: 2026 2025
---------
Net income $ 102.0 $ 211.2
Adjustments to reconcile net
income to net cash provided by
operating activities 212.2 146.9
Changes in:
Inventories (97.2) 186.4
Finance receivables (261.2) (179.1)
Floor plan notes payable (65.5) 23.3
Other operating activities 1.3 (66.6)
------------ ---------
Net cash (used in) provided by
operating activities (108.4) 322.1
Cash flows from investing
activities:
Capital expenditures (97.1) (68.7)
Cash paid for acquisitions, net of
cash acquired (145.3) (84.5)
Proceeds from sales of stores -- 43.2
Other investing activities 1.9 (7.1)
------------ ---------
Net cash used in investing
activities (240.5) (117.1)
Cash flows from financing
activities:
Net borrowings on floor plan notes
payable, non-trade 1,378.3 (44.0)
Net borrowings on non-recourse
notes payable 160.0 254.4
Net borrowings on other debt and
finance lease liabilities (798.8) (159.7)
Proceeds from issuance of common
stock 5.8 5.6
Repurchase of common stock (297.0) (143.4)
Dividends paid (12.8) (13.9)
Other financing activity (3.5) (72.0)
------------ ---------
Net cash provided by (used in)
financing activities 432.0 (173.0)
Effect of exchange rate changes on
cash and restricted cash (1.7) 0.3
Change in cash, restricted cash, and
cash equivalents 81.4 32.3
Cash, restricted cash, and cash
equivalents at beginning of period 391.3 445.8
------------ ---------
Cash, restricted cash, and cash
equivalents at end of period 472.7 478.1
LAD
Reconciliation of Non-GAAP Cash Flow from Operations (Unaudited)
(In millions)
Three months ended March 31,
--------------------------------------
Net cash provided by operating
activities 2026 2025
------------------------------------ --------
As reported $ (108.4) $ 322.1
Floor plan notes payable,
non-trade, net(1) 1,378.3 (44.0)
Adjust: finance receivables
activity 261.2 179.1
Less: Borrowings on floor plan
notes payable, non-trade
associated with acquired new
vehicle inventory (11.3) (9.9)
------------- --------
Adjusted $ 1,519.8 $ 447.3
(1) Includes the impact of converting inventory--secured revolvers to floorplan facilities during the quarter, increasing net floorplan borrowings and adjusted operating cash flows $1,138.3 million.
LAD
Reconciliation of Certain Non-GAAP Financial Measures (Unaudited)
(In millions, except for per share data)
Three Months Ended March 31, 2026
-------------------------------------------------------------------------------
As Investment Acquisition Contract Tax
reported loss expenses buyouts attribute Adjusted
Selling, general
and
administrative $1,037.4 $ -- $ (0.3) $(20.3) $ -- $1,016.8
Operating income 335.8 -- 0.3 20.3 -- 356.4
Other income
(expense), net (67.6) 73.3 -- -- -- 5.7
Income before
income taxes 142.0 73.3 0.3 20.3 -- 235.9
Income tax
(provision)
benefit (40.0) (18.6) (0.1) (5.1) 1.2 (62.6)
------- ------ ----- --- ----- --------- -------
Net income $ 102.0 $ 54.7 $ 0.2 $ 15.2 $ 1.2 $ 173.3
Net income
attributable to
non-controlling
interests (1.6) -- -- -- -- (1.6)
Net income
attributable to
LAD $ 100.4 $ 54.7 $ 0.2 $ 15.2 $ 1.2 $ 171.7
======= ====== ===== ==== ===== ========= =======
Diluted earnings
per share
attributable to
LAD $ 4.28 $ 2.34 $ 0.01 $ 0.65 $ 0.06 $ 7.34
Diluted share
count 23.4
Three Months Ended March 31, 2025
---------------------------------------------------------------------------------------------------
Net gain on
As disposal of Investment Insurance Acquisition Tax
reported stores loss reserves expenses attribute Adjusted
Selling, general
and
administrative $ 952.7 $ 9.4 $ -- $ (0.4) $ (0.2) $ -- $ 961.5
Operating income 406.3 (9.4) -- 0.4 0.2 -- 397.5
Other income
(expense), net 0.8 -- 9.7 -- -- -- 10.5
Income before
income taxes 284.5 (9.4) 9.7 0.4 0.2 -- 285.4
Income tax
(provision)
benefit (73.3) 2.4 (2.5) (0.1) -- (1.0) (74.5)
----- ----- ---- ----- ---- ----- ---- ------ -----
Net income $ 211.2 $ (7.0) $ 7.2 $ 0.3 $ 0.2 $ (1.0) $ 210.9
Net income
attributable to
non-controlling
interests (1.7) -- -- -- -- -- (1.7)
Net income
attributable to
LAD $ 209.5 $ (7.0) $ 7.2 $ 0.3 $ 0.2 $ (1.0) $ 209.2
===== ===== === ===== === ==== === ===== ==== ====== =====
Diluted earnings
per share
attributable to
LAD $ 7.94 $(0.25) $ 0.27 $ 0.01 $ -- $ (0.04) $ 7.93
Diluted share
count 26.4
LAD
Adjusted EBITDA and Net Debt to Adjusted EBITDA (Unaudited)
(In millions)
%
Three months ended
March 31, Increase
2026 2025 (Decrease)
------- ------
EBITDA and Adjusted EBITDA
------------------------------
Net income $ 102.0 $ 211.2 (51.7 ) %
Flooring interest expense 55.9 57.1 (2.1)
Other interest expense 70.3 65.5 7.3
Financing operations interest
expense 51.6 48.1 7.3
Income tax expense 40.0 73.3 (45.4)
Depreciation and amortization 69.8 63.9 9.2
EBITDA $ 389.6 $ 519.1 (24.9 ) %
Other adjustments:
Less: flooring interest
expense $ (55.9) $ (57.1) (2.1)
Less: financing operations
interest expense (51.6) (48.1) 7.3
Less: used vehicle line of
credit interest (1.4) (3.0) (53.3)
Add: acquisition expenses 0.3 0.2 50.0
Add: loss (gain) on disposal
of stores -- (9.4) NM
Add: investment loss (gain)(1) 73.3 9.7 NM
Add: insurance reserves -- 0.4 NM
Add: contract buyouts 20.3 -- NM
Adjusted EBITDA $ 374.6 $ 411.8 (9.0 ) %
======= ======
NM - not meaningful
(1) Investment losses (gains) retrospectively included in adjusted non-GAAP financial measures presented
As of %
March 31, Increase
----------------------
Net Debt to Adjusted EBITDA 2026 2025 (Decrease)
------------------------------
Floor plan notes payable $ 6,284.5 $ 4,904.9 28.1%
Used and service loaner
vehicle inventory financing
facility 3.6 968.7 (99.6)
Revolving lines of credit 1,738.8 1,558.3 11.6
Warehouse facilities 1,337.0 768.5 74.0
Non-recourse notes payable 2,634.0 2,363.7 11.4
4.625% Senior notes due 2027 400.0 400.0 --
3.875% Senior notes due 2029 800.0 800.0 --
5.500% Senior notes due 2030 600.0 -- --
4.375% Senior notes due 2031 550.0 550.0 --
Finance leases and other debt 1,156.2 1,014.6 14.0
Unamortized debt issuance
costs (26.3) (24.1) 9.1
-------- --------
Total debt $15,477.8 $13,304.6 16.3%
-------- --------
Less: Inventory related debt $(6,288.1) $(5,873.6) 7.1%
Less: Financing operations
related debt (3,971.0) (3,132.2) 26.8
Less: Unrestricted cash and
cash equivalents (160.8) (234.4) (31.4)
Less: Marketable securities (55.9) (53.7) 4.1
Less: Availability on used
vehicle and service loaner
financing facilities (0.2) (24.3) (99.2)
-------- --------
Net Debt $ 5,001.8 $ 3,986.4 25.5%
======== ========
TTM Adjusted EBITDA $ 1,629.4 $ 1,596.5 2.1%
======== ========
Net debt to Adjusted EBITDA 3.07x 2.50x
(NM - not meaningful)
Contact: Jardon Jaramillo Senior Director - Finance and Investor Relations IR@lithia.com (503) 799-5254
(END) Dow Jones Newswires
April 29, 2026 05:30 ET (09:30 GMT)
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