Lithia & Driveway reported record fourth-quarter 2024 revenue of $9.2 billion, a 20% increase from $7.7 billion in the fourth quarter of 2023. The company's diluted earnings per share (EPS) for the quarter increased 5% to $8.12, while adjusted diluted EPS was $7.79, surpassing the analyst consensus estimate of $7.24.
For the full year 2024, Lithia achieved record revenue of $36.2 billion, representing a 17% increase from $31.0 billion in 2023. A significant milestone was reached as the company's Financing Operations, including Driveway Finance Corporation, recorded its first profitable year, underscoring the success of its diversified business model.
The company continued its strategic expansion, noting the acquisition of Stohlman Subaru in January 2025, which is expected to add $80 million in annual revenue. Lithia also declared a dividend of $0.53 per share for the fourth quarter and continued its share repurchase program, buying back approximately 1,230,000 shares in 2024 at a weighted average price of $283.
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