What To Expect From Lithia’s (LAD) Q4 Earnings
Stock Story
Published Feb 13, 2024 02:01AM ET
Updated Feb 13, 2024 06:31AM ET
What To Expect From Lithia’s (LAD) Q4 Earnings
Automotive retailer Lithia Motors (NYSE:LAD) will be announcing earnings results tomorrow before market hours. Here's what investors should know.
Last quarter Lithia reported revenues of $8.28 billion, up 13.5% year on year, beating analyst revenue expectations by 1.3%. It was a mixed quarter for the company, with a decent beat of analysts' revenue estimates but a miss of analysts' earnings estimates.
Is Lithia buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Lithia's revenue to grow 13.8% year on year to $7.95 billion, improving on the 10.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $8.22 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Lithia's peers in the automotive and marine retail segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. MarineMax delivered top-line growth of 3.8% year on year, missing analyst estimates by 0.2% and Monro reported revenue decline of 5.2% year on year, missing analyst estimates by 2.2%. MarineMax traded down 15.2% on the results, and Monro was flat on the results.
Read the full analysis of MarineMax's and Monro's results on StockStory.
There has been positive sentiment among investors in the automotive and marine retail segment, with the stocks up on average 6% over the last month. Lithia is up 7.8% during the same time, and is heading into the earnings with analyst price target of $349.9, compared to share price of $309.9.
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Written By: Stock Story
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