Revenue: As of FY2026 Q1, the actual value is USD 9.271 B, beating the estimate of USD 9.222 B.EPS: As of FY2026 Q1, the actual value is USD 4.28, missing the estimate of USD 6.7733.EBIT: As of FY2026 Q1, the actual value is USD 462 M.<h4>Overall Financial Performance</h4>Lithia Motors, Inc. (利西亚车行) reported record first quarter revenues of $9.3 billion for Q1 2026, marking a 1% increase from $9.2 billion in Q1 2025. Total gross profit for Q1 2026 was $1,421.7 million, an increase of 0.8% compared to Q1 2025, with the overall gross profit margin at 15.3%, a decrease of 10 basis points year-over-year. Net income for Q1 2026 was $102.0 million, a 51.7% decrease from $211.2 million in Q1 2025. Adjusted net income for Q1 2026 was $173.3 million, an 18% decrease compared to $210.9 million in Q1 2025. Income from operations was $335.8 million, representing a 17.4% decrease year-over-year. Adjusted EBITDA for Q1 2026 was $374.6 million, a 9.0% decrease from $411.8 million in Q1 2025.<h4>Segment Revenue and Gross Profit</h4><ul><li>New Vehicle: Revenue was $4,379.4 million, a decrease of 4.4% from Q1 2025. The gross margin for new vehicles was 5.9%, a decrease of 50 basis points.</li><li>Used Vehicle: Revenue was $3,489.4 million, an increase of 7.3% from Q1 2025. Same-store used vehicle revenue increased 4.6%. The gross margin for used vehicles was 5.4%, a decrease of 40 basis points. Used retail Gross Profit per Unit (GPUs) increased by $133 sequentially.</li><li>Finance and Insurance: Revenue was $359.7 million, a decrease of 1.3% from Q1 2025. The gross margin remained at 100%.</li><li>Aftersales: Revenue was $1,042.9 million, an increase of 6.1% from Q1 2025. Aftersales revenue increased 3.8% on a same-store basis, with gross profit increasing by 5.7% and gross margin reaching 58.7%, a 100-basis point increase on a same-store basis. The overall aftersales gross margin was 58.9%, an increase of 150 basis points.</li></ul><h4>Operational Metrics</h4><ul><li>Selling, General &amp; Administrative (SG&amp;A) Expense: SG&amp;A expense was $1,037.4 million, an 8.9% increase from Q1 2025. As a percentage of revenue, SG&amp;A was 11.2% (vs. 10.4% in Q1 2025), and as a percentage of gross profit, it was 73.0% (vs. 67.5% in Q1 2025).</li><li>Unit Sales: New vehicle unit sales were 94,787, a decrease of 4.7%. Used vehicle retail unit sales were 110,151, an increase of 2.6%.</li><li>Average Selling Price: New vehicle average selling price was $46,878, a decrease of 0.7%. Used vehicle retail average selling price was $28,464, an increase of 4.7%.</li><li>Average Gross Profit per Unit: New vehicle was $2,739 (-7.2%), used vehicle retail was $1,688 (-4.6%), and finance and insurance was $1,807 (0.2%).</li><li>Driveway Finance Corporation (DFC): Achieved record originations of $840 million, with an 18.0% penetration rate and an average FICO score of 750. Finance operations income was $21.3 million, a 70.4% increase from $12.5 million in Q1 2025. Total average managed finance receivables increased to $5,004.0 million from $4,062.1 million.</li><li>Inventory Days’ Supply: New vehicle inventory was 49 days, and used vehicle inventory was 47 days as of March 31, 2026.</li><li>Geographic Performance: The United States accounted for 75.6% of total revenue and 80.9% of total gross profit. The United Kingdom contributed 21.4% of total revenue and 16.7% of total gross profit, while Canada accounted for 3.0% of total revenue and 2.4% of total gross profit.</li></ul><h4>Cash Flow and Balance Sheet</h4><ul><li>Operating Cash Flow: Net cash used in operating activities was - $108.4 million in Q1 2026, compared to $322.1 million provided in Q1 2025. Adjusted net cash provided by operating activities was $1,519.8 million in Q1 2026, significantly up from $447.3 million in Q1 2025, partly due to a $1,138.3 million impact from converting inventory-secured revolvers to floorplan facilities.</li><li>Liquidity: Lithia Motors, Inc. (利西亚车行) ended the first quarter with approximately $1.4 billion in cash and cash equivalents, marketable securities, and revolving lines of credit availability. Cash, restricted cash, and cash equivalents at the end of the period were $472.7 million.</li><li>Shareholder Returns: The company repurchased $259 million of shares, representing 4.0% of outstanding shares, at a weighted average price of $274.62. A cash dividend of $0.57 per share was approved, scheduled to be paid on May 22, 2026, to shareholders of record as of May 8, 2026.</li><li>Net Debt: Net Debt to Adjusted EBITDA ratio was 3.07x as of March 31, 2026, compared to 2.50x as of March 31, 2025. Total debt increased to $15,477.8 million from $13,304.6 million year-over-year.</li></ul><h4>Outlook / Guidance</h4>Lithia Motors, Inc. (利西亚车行) aims for continued profitable growth and expects to successfully navigate market cycles. The company plans to continue purchasing shares under its repurchase program and achieve its long-term financial targets. Additionally, it intends to grow its network through accretive acquisitions.

Lithia Motors | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 9.271 B