利西亚车行 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June30, 2026OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Lithia Motors, Inc. (Exact name of registrant as specified in its charter) (I.R.S. Employer Identification No.) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject tosuch filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerAcceleratedfilerSmallerreportingcompanyEmerging growth company☒☐☐☐☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒As of July29, 2026, there were 21,983,116 shares of the registrant’s common stock outstanding. Table of Contents GLOSSARY OF DEFINITIONS The following are abbreviations and definitions of terms used within this report: AFSAvailable-for-saleASCAccounting Standards CodificationASUAccounting standards updateBoardBoard of directorsBNSThe Bank of Nova ScotiaBPSBasis pointsCADCanadian Dollar ($)CORRACanadian Overnight Repo Rate AverageCPOCertified pre-ownedDFCDriveway Finance CorporationEBITDAEarnings before interest, taxes, depreciation, and amortizationEPSEarnings per shareFASBFinancial Accounting Standards BoardGAAPGenerally accepted accounting principlesLADLithia and DrivewayLMMHLithia Marubeni Mobility HoldingsNCINon-controlling interest Assets Property and equipment, net of accumulated depreciation of $1,094.9 and $1,004.9Operating lease right-of-use assetsFinance receivables, net of allowance for credit losses of $153.4 and $143.7GoodwillFranchise valueOther non-current assetsTotal assets Liabilities and equity Current liabilities:Floor plan notes payableFloor plan notes payable: non-tradeCurrent maturities of long-term debtCurrent maturities of non-recourse notes payableTrade payablesAccrued liabilitiesTotal current liabilities CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Table of Contents CONSOLIDATED STATEMENTS OF EQUITY Cash flows from operating activities: Table of Contents CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE1. INTERIM FINANCIAL STATEMENTS Basis of PresentationThese Consolidated Financial Statements contain unaudited information as of June30, 2026, and for the three and sixmonths ended June 30, 2026 and 2025. The unaudited interim financial statements have been preparedpursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain disclosures required byaccounting principles generally accepted in the United States of America for annual financial statements are notincluded herein. In management’s opinion, these unaudited financial statements reflect all adjustments (whichinclude only normal recurring adjustments) necessary for a fair presentation of the information when read inconjunction with our 2025 audited Consolidated Financial Statements and the related notes thereto. The financialinformation as of December31, 2025, is derived from our Annual Report on Form 10-K filed with the SEC onFebruary25, 2026. The results of operations for the interim periods presented are not necessarily indicative of theresults to be expected for the full year. Reclassifications Certain reclassifications of amounts previously reported have been made to the accompanying ConsolidatedFinancialStatements to maintain consistency and comparability between periods presented.Within ourConsolidated Statements of Operations, we combined used wholesale revenue with used retail revenue and nowpresent these revenues collectively as used vehicle revenue. In addition, we combined fleet revenue with new retailrevenue and now present these revenues collectively as new vehicle revenue. These cha