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LITHIA driveway NYSE : LAD LITHIA & DRIVEWAY ( LAD ) REPORTS HIGHEST SECOND QUARTER EARNINGS IN COMPANY HISTORY ; INCREASES REVENUE 118 % AND EPS 218 % ANNOUNCES DIVIDEND OF $ 0.35 PER SHARE FOR SECOND QUARTER Medford , Oregon , July 21 , 2021 - Lithia & Driveway ( NYSE : LAD ) today reported the highest second quarter revenue and earnings per share in company history . Second quarter 2021 revenue increased 118 % to $ 6.0 billion from $ 2.8 billion in the second quarter of 2020 . Second quarter 2021 net income per diluted share was $ 10.75 , a 218 % increase from $ 3.38 per diluted share reported in the second quarter of 2020. Adjusted second quarter 2021 net income per diluted share was $ 11.12 , an 199 % increase compared to adjusted net income of $ 3.72 per diluted share in the same period of 2020 . Second quarter 2021 net income was $ 305 million , a 292 % increase compared to net income of $ 78 million in the same period of 2020. Adjusted second quarter 2021 net income was $ 315 million , a 269 % increase compared to adjusted net income of $ 86 million for the same period of 2020 . As shown in the attached non - GAAP reconciliation tables , the 2021 second quarter adjusted results exclude a $ 0.37 per diluted share net non - core charge related to acquisition expenses , net loss on sale of stores , and insurance reserves , partially offset by a a non - cash unrealized investment gain . The 2020 second quarter adjusted results exclude a $ 0.34 per diluted share net non - core charge due to asset impairment , insurance reserves , and acquisition expenses , partially offset by a net gain on sale of stores and a tax attribute . Second Quarter - over - Quarter Comparisons and Operating Highlights : Total company revenues increased 117.8 % New vehicle retail sales increased 130.0 % Used vehicle retail sales increased 95.7 % Driveway milestone reached of 500 transactions in June F & I per unit increased 16.4 % to $ 1,854 Service , body , and parts revenues increased 89.1 % Total vehicle gross profit per unit increased 41.3 % to $ 5,723 Adjusted SG & A as a percentage of gross profit improved by 900 basis points from 64.7 % to 55.7 % " Our team's high performance , alongside the robust , demand - driven retail environment in the second quarter , resulted in same store revenue growth of 20 % for new vehicles , 49 % for used vehicles , 39 % for F & I and 3 % for service , body and parts compared to 2019 , " said Bryan DeBoer , Lithia & Driveway , President and CEO . " We achieved our initial Driveway monthly volume milestone in the final month of the quarter and are on pace to reach our target of 15,000 Driveway transactions this year . Combined with our outpaced growth in our core business and network development , we are considerably ahead of our year one goals laid out in our 5 - Year Plan announced in July 2020. " For the first six months of 2021 revenues increased 86 % to $ 10.4 billion , compared to $ 5.6 billion in 2020 . Net income for the first six months of 2021 was $ 16.69 per diluted share , compared to $ 5.32 per diluted share in 2020 , an increase of 214 % . Adjusted net income per diluted share for the first six months of 2021 increased 201 % to $ 17.15 from $ 5.70 in the same period of 2020 . Corporate Development During the quarter , we completed numerous acquisitions that in total are expected to contribute $ 3.7 billion in annualized revenue . These acquisitions strategically added density in key geographic markets and increased our nationwide footprint .