Filing Flows › Lithia Motors (LAD) › Q3 2025
Lithia Motors (LAD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 24, 2025
Lithia Motors (LAD) reported revenue of $9.7B for the third quarter 2025 (Q3 2025), +5% from a year earlier and +1% from the quarter before. Operating margin was 4.4%, net earnings $217M (2.2% of revenue).
Lithia Motors, Q3 2025: revenue $9.7B (+5% year over year), operating margin 4.4%, net earnings $217M, operating cash flow −$98.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.7B | +1% | +5% |
| Gross profit | $1.5B | -1% | +2% |
| Operating profit | $422M | -0.9% | -0.1% |
| Net earnings | $217M | -15% | +5% |
| Operating cash flow | −$98.4M | -1158% | — |
What changed
Revenue was $9.7B in Q3 2025, up 5% year over year and up 1% from the previous quarter. New vehicle retail was the largest line at 48% of revenue. Used vehicle retail added $0.25B year over year (up 9%), 56% of the total change. Fleet and other declined 9%.
Gross margin was 15.2%, down 0.4 points from a year earlier. Operating profit was $0.42B, a 4.4% margin (down 0.2 points year over year). Operating profit fell $300K even though revenue rose $0.45B versus a year earlier, so costs grew faster than sales. Operating expenses grew 4% against revenue growth of 5%. Net earnings were $0.22B, up 5% year over year. The effective tax rate was 22.5%.
Operating cash flow was −$0.10B. Non-cash charges added back $0.08B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.41B. Capital expenditures of $0.11B exceeded it, leaving free cash flow of −$0.21B.
Questions
What was Lithia Motors' revenue in the third quarter 2025?
Lithia Motors (LAD) reported revenue of $9.7B for the third quarter 2025 (Q3 2025), +5% from a year earlier and +1% from the quarter before.
Was Lithia Motors profitable in the third quarter 2025?
Operating profit was $422M (4.4% of revenue) and net earnings $217M.
Source: Lithia Motors 10-Q on SEC EDGAR.