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Lithia Motors (LAD) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Lithia Motors (LAD) Q3 2026 earnings results →
Q3 2026 Revenue up 3% year over year to $9.9B · 3¢ of every $1 of revenue kept as net profit · operating margin 4.2%
Lithia Motors made $9.9B in Q3 2026 (+3% Y/Y): New vehicle $4.9B, Used vehicles $3.6B, Aftersales $1.1B. Operating margin 4.2%, net earnings $293M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $9.9B in Q3 2026, up 3% year over year and up 2% from the previous quarter. New vehicle was the largest line at 49% of revenue. Used vehicles added $0.17B year over year (up 5%), 62% of the total change. Finance and insurance declined 5%.
Gross margin was 15.0%, down 0.1 points from Q3 2025. Operating profit was $0.42B, a 4.2% margin (down 0.1 points year over year). Operating profit fell $1.4M even though revenue rose $0.27B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 3% against revenue growth of 3%. Net earnings were $0.29B, up 34% year over year. The effective tax rate was 25.1%.
Operating cash flow was −$0.03B. Non-cash charges added back $0.09B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.43B. Capital expenditures of $0.10B exceeded it, leaving free cash flow of −$0.13B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $9.9B | +3% | 4.2% | $293M | −$30.8M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $9.8B | +2% | 4.6% | $262M | −$65.7M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $9.3B | +1% | 3.6% | $102M | −$108M |
| Q4 2025 | 10-K | Feb 25, 2026 | $9.2B | +0.3% | 3.7% | $138M | $124M |
| Q3 2025 | 10-Q | Oct 24, 2025 | $9.7B | +5% | 4.4% | $217M | −$98.4M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $9.6B | +4% | 4.4% | $258M | $9.3M |
| Q1 2025 | 10-Q | Apr 24, 2025 | $9.2B | +7% | 4.4% | $211M | $322M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Lithia Motors
As used in this Annual Report, the terms “Lithia,” “Lithia and Driveway,” “LAD,” “the Company,” “we,” “us,” and “our” refer collectively to Lithia Motors, Inc. and its subsidiaries, unless otherwise required by the context. Our store operations are conducted by our subsidiaries. Certain statements in this Annual Report, including in the sections entitled “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Business” constitute forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995.
In its own words, from its 10-K, filed Feb 25, 2026.
Lithia Motors against its Retail-Auto Dealers & Gasoline Stations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +4%. Operating margin: 4.2% against the peers' median 4.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LAD Lithia Motors | Q3 2026 | $9.9B | +3% | 4.2% |
| PAG Penske Automotive Group | Q3 2026 | $8.4B | +4% | 3.6% |
| CVNA Carvana | Q3 2026 | $8.0B | +42% | 8.9% |
| KMX CarMax | Q2 FY27 | $7.9B | +20% | 2.8% |
| AN Autonation | Q3 2026 | $7.0B | -0.4% | 4.5% |
| MUSA Murphy USA | Q3 2026 | $6.9B | +35% | 3.8% |
| CASY Caseys General Stores | Q1 FY27 | $5.7B | +24% | 6.1% |
| GPI Group 1 Automotive | Q3 2026 | $5.4B | -7% | 3.7% |
| ABG Asbury Automotive Group | Q3 2026 | $4.4B | -8% | 4.7% |
Source: Lithia Motors 10-Q on SEC EDGAR · CIK 1023128 · Retail-Auto Dealers & Gasoline Stations
Guidance and outlook
13F: who owns LAD and who is buying
More on LAD
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results