Lithia & Driveway posts record $9.8 billion second-quarter revenue

• Lithia & Driveway reported record second-quarter revenues of $9.8 billion alongside a 17% increase in diluted EPS.
• The company's finance operations income reached a record $36.5 million as used retail gross profits increased sequentially.
• The Board approved a 23% dividend increase and expanded the share repurchase authorization following the repurchase of 3.7% of outstanding stock.

Lithia & Driveway (NYSE:LAD) reported record second-quarter 2026 revenues of $9.8 billion, a 2% year-over-year increase.

The company's diluted EPS rose 17% to $11.54, while adjusted diluted EPS increased 9% to $10.03.

Net income was $261.6 million, though adjusted net income declined 6% to $227.6 million after excluding non-core items.

The company stated used retail gross profit per unit increased $339, or 20%, sequentially.

Following the announcement, Lithia Motors' share price was up at $353.

Finance operations income reached a record $36.5 million, reflecting an 81.6% increase.

The Board also approved a 23% dividend increase to $0.70 per share and expanded its share repurchase authorization.