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Income Statement (USD)
Q2 '24 | QoQ | |
---|---|---|
Revenue | 9.23B | 8.6% |
Gross Profit | 1.42B | 6.6% |
Cost of Revenue | 8.85B | 7.5% |
Operating expense | 1.04B | 4% |
Net Income | 214M | 31.7% |
EBITDA | 404M | 18.9% |
Balance Sheet (USD)
Q2 '24 | QoQ | |
---|---|---|
Total Assets | 23.2B | 4.6% |
Total Liabilities | 16.8B | 6.4% |
Total Equity | 6.37B | 0.3% |
Shares Outstanding | 27M | 2.5% |
Cash Flow (USD)
Q2 '24 | QoQ | |
---|---|---|
Cash from operations | -148M | 150.8% |
Cash from investing | -249M | 80.3% |
Cash from financing | 673M | 51.1% |
EPS
Financial Highlights for Lithia Motors in Q2 '24
Lithia Motors reported a revenue of 9.23B, which is a 8.6% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 1.42B, marking a 6.6% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 8.85B, a 7.5% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 1.04B, showing a 4% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 214M, showing a 31.7% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 404M, showing a 18.9% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Lithia Motors with growth in revenue, gross profit, and net income. Higher operating expenses might indicate increased investments or potential inefficiencies.