Lithia Motors (NYSE: LAD) reported Q4 EPS of $5.46, $0.40 better than the analyst estimate of $5.06. Revenue for the quarter came in at $3.94 billion versus the consensus estimate of $3.93 billion.

Fourth Quarter-over-Quarter Operating Highlights:

• Total company revenues increased 20.6%
• New vehicle retail sales increased 19.0%
• Used vehicle retail sales increased 23.9%
• F&I per unit increased 13.1% to $1,723
• Total vehicle gross profit per unit increased 18.0% to $4,371
• Adjusted SG&A as a percentage of gross profit improved by 860 basis points to 62.0%

"This was a historic year for Lithia & Driveway and the results for the fourth quarter demonstrate the ability of our team to deliver unparalleled performance and profitability through any economic cycle," said Bryan DeBoer, President and CEO. "The high performance being achieved at our existing stores, coupled with the acquisitions in 2020 anticipated to generate over $3.5 billion in annualized steady state revenue and the successful launch of our national e-commerce home solution Driveway, gives us increased confidence in our five-year plan to reach $50 billion in revenue and $50 in earnings per share."

"We expanded our network at a record pace during 2020 and are just getting started," said DeBoer. "With our strong balance sheet and over $350 million of adjusted operating cash flows, we are well positioned for accelerated growth with the ability to add over $7 billion of additional revenue to our network this year."

For earnings history and earnings-related data on Lithia Motors (LAD) click here.