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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, enhancing its Sacramento network. 2. Expected annual revenue from the acquisition is $100 million. 3. Share repurchase authorization increased by $350 million, totaling $748 million. 4. LAD repurchased 197,500 shares this year at an average of $361 each. 5. This acquisition aligns with LAD's strategy for growth in the Southwest region.

Shares Buyback
-4.29%Current Return
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-1.09%S&P 500
$325.303/04 05:45 AM EDTEvent Start
$311.3603/05 12:21 PM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition boosts revenue potential and reflects strong growth strategy, akin to LAD's past successful acquisitions.

How important is it?

The acquisition signifies expansion and revenue growth, essential for investor confidence and share performance.

Why Short Term?

Immediate revenue increase expected, similar to outcomes from recent acquisitions, impacting short-term investor sentiment.

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SUBARUCARAZO
, /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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