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Lithia & Driveway (LAD) Expands Retail Network in Southwest Region and Announces Share Repurchase Authorization Increase

1. LAD acquires Elk Grove Subaru in California, expanding its network. 2. Acquisition adds $100 million to expected annual revenue. 3. Share repurchase authorization increases by $350 million, totaling $748 million. 4. LAD has repurchased 197,500 shares this year at an average price of $361. 5. The acquisition strengthens LAD's position in the Southwest region automotive market.

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FAQ

Why Bullish?

The acquisition and share repurchase indicate growth and strong cash flow, similar to previous successful acquisitions that boosted LAD's revenue.

How important is it?

Acquiring a new store and increasing repurchase authorization are key indicators of LAD's strategic growth, likely to resonate well with investors.

Why Short Term?

The immediate revenue increase from the acquisition will likely impact Q4 financials positively, similar to past acquisitions providing rapid revenue gains.

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, /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced the acquisition today of Elk Grove Subaru in Elk Grove, California, adding an additional store to its network in the Sacramento area, and continuing to strengthen its density in the Southwest region. "We are excited to welcome the talented team at Elk Grove Subaru to the Lithia and Driveway team. This addition strengthens our presence in the Southwest region and continues our strategy of expanding our network with high-performing partners like Subaru. We look forward to continuing the store's legacy of building customer loyalty and leveraging our omnichannel capabilities to realize Elk Grove's potential," said Bryan DeBoer, Lithia & Driveway President and CEO. This acquisition adds expected annual revenue of $100 million and brings LAD's total year-to-date annualized revenue acquired to $180 million. This acquisition was financed using existing on-balance sheet capacity. Increase to Share Repurchase Authorization LAD announced today a $350 million increase to its share repurchase authorization by its Board of Directors, bringing total funds available for future repurchases to approximately $748 million. To date this year, LAD has invested over $71 million to repurchase over 197,500 shares at a weighted average price of $361 per share. This represents 0.75% of outstanding shares. 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. Siteswww.lithia.comwww.investors.lithiadriveway.comwww.lithiacareers.comwww.driveway.comwww.greencars.comwww.drivewayfinancecorp.com Lithia & Driveway on Facebookhttps://www.facebook.com/LithiaMotorshttps://www.facebook.com/DrivewayHQ Lithia & Driveway on Xhttps://x.com/lithiamotorshttps://x.com/DrivewayHQhttps://x.com/GreenCarsHQ Lithia & Driveway on LinkedInhttps://www.linkedin.com/company/lithia-motors/Lithia & Driveway on YouTubehttps://www.youtube.com/@Lithia_Motors/featured SOURCE Lithia Motors, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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