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How Lithia Motors (LAD) makes money
Lithia Motors (LAD) made $9.9B of revenue in the third quarter 2026 (Q3 2026), +3% from a year earlier. New vehicle brought in $4.9B (49%); Used vehicles brought in $3.6B (36%); Aftersales brought in $1.1B (11%). Of every dollar of revenue, 15¢ was left as gross profit, 4¢ was left as operating profit, 3¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| New vehicle | $4.9B | 48.9% | +0.8% | +2% |
| Used vehicles | $3.6B | 36.5% | +3% | +5% |
| Aftersales | $1.1B | 10.9% | +2% | +4% |
| Finance and insurance | $361M | 3.6% | -1% | -5% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $9.9B | 100.0% |
| Cost of revenue | $8.5B | 85.0% |
| Gross profit | $1.5B | 15.0% |
| Operating expenses | $1.1B | 10.8% |
| Operating profit | $420M | 4.2% |
| Income tax | $98.1M | 1.0% |
| Net earnings | $293M | 2.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $9.9B | +3% |
| Q2 2026 | $9.8B | +2% |
| Q1 2026 | $9.3B | +1% |
| Q4 2025 | $9.2B | +0.3% |
| Q3 2025 | $9.7B | +5% |
| Q2 2025 | $9.6B | +4% |
| Q1 2025 | $9.2B | +7% |
From Lithia Motors' 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does Lithia Motors make money?
Lithia Motors (LAD) made $9.9B of revenue in the third quarter 2026 (Q3 2026), +3% from a year earlier. New vehicle brought in $4.9B (49%); Used vehicles brought in $3.6B (36%); Aftersales brought in $1.1B (11%). Of every dollar of revenue, 15¢ was left as gross profit, 4¢ was left as operating profit, 3¢ was left as net earnings.
What is Lithia Motors' biggest business?
New vehicle: $4.9B in the third quarter 2026, 49% of revenue, +2% from a year earlier.
What is Lithia Motors' profit margin?
Net earnings were $293M, 2.9% of revenue, in the third quarter 2026; the operating margin was 4.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.