Lithia & Driveway (LAD) Provides Share Repurchase Update and Continues to Expand in Canada | LAD Stock News

, /PRNewswire/ -- In the quarter, LAD has invested $274 million to repurchase nearly 875,000 shares at a weighted average price of $313, representing 3.3% of outstanding shares. "Our share repurchases this quarter demonstrate our conviction in our resilient profitability, generative cash flows and omnichannel model," said Bryan DeBoer, Lithia and Driveway President and CEO. "Our strong balance sheet and shares trading below intrinsic value allows us to return capital while also strengthening our network through strategic acquisitions."To date this year, LAD has invested nearly $933 million to repurchase 2.98 million shares at a weighted average price of $313. This represents 11.3% of outstanding shares. $636 million remains available for repurchase under the existing share repurchase authorization.Fines Ford AcquisitionAdditionally, LAD completed the acquisition of Fines Ford in the Greater Toronto Area, Canada. This strategic investment demonstrates LAD's continued ability to strengthen its network in the North American market. This store is expected to increase annualized revenue by $100 million."We are excited to expand our presence in the Canadian market with the addition of Fines Ford to the Lithia & Driveway family. This strategic investment in Canada's number one volume brand strengthens our omnichannel network in the nation's largest market," said BryanDeBoer, Lithia and Driveway President and CEO. "Fines Ford's customer loyalty and established reputation in the community align perfectly with our strategy to provide exceptional experiences wherever, whenever, and however customers desire. This accretive acquisition reflects our disciplined approach to delivering sustainable growth and shareholder value while bringing new customers into our unique ecosystem."This addition brings LAD's total year-to-date expected annualized revenue to $2.2 billion and was financed using existing on-balance sheet capacity.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.comLithia & Driveway on Facebookhttps://www.facebook.com/LithiaMotorshttps://www.facebook.com/DrivewayHQLithia & Driveway on Xhttps://x.com/lithiamotorshttps://x.com/DrivewayHQhttps://x.com/GreenCarsHQLithia & Driveway on LinkedInhttps://www.linkedin.com/company/lithia-motors/Lithia & Driveway on YouTubehttps://www.youtube.com/@Lithia_Motors/featuredSOURCE Lithia Motors, Inc.