Lithia & Driveway buys Rockwall Hyundai in Texas, adds about $75 million in annualized revenue
AI Market Summary
Lithia & Driveway announced the acquisition of Rockwall Hyundai in Texas, adding an estimated $75M in annualized revenue and bringing year-to-date acquired annualized revenue to $915M, funded from existing balance-sheet capacity. The company also highlighted ongoing capital return, repurchasing $40M of shares this quarter and $541M year-to-date, with $580M remaining under authorization. The news is supportive for LAD but limited in broader market impact.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT+0.13%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Lithia & Driveway said it has acquired Rockwall Hyundai in Rockwall, Texas, adding an estimated $75 million in annualized revenue. The deal lifts the company’s year-to-date acquired annualized revenue to $915 million. The company also said it spent $40 million this quarter to repurchase about 108,000 shares, and has repurchased about 1.9 million shares year to date, with $580 million remaining under its authorization.
