EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2026

We calculate basic EPS by dividing net income attributable to Lithia Motors, Inc. by the weighted average number of

common shares outstanding for the period, including vested RSU awards. We calculate diluted EPS by dividing net

income attributable to Lithia Motors, Inc. by the weighted average number of shares outstanding, adjusted for the

dilutive effect of unvested RSU awards and employee stock purchases.

The following is a reconciliation of net income attributable to Lithia Motors, Inc. and weighted average shares used

for our basic EPS and diluted EPS:


	Three Months Ended June 30,		Six Months Ended June 30,
(In millions, except per share amounts)	2026	2025	2026	2025
Net income attributable to Lithia Motors, Inc.	$260.0	$256.1	$360.4	$465.6

Weighted average common shares outstanding – basic	22.5	25.9	22.9	26.1
Effect of employee stock purchases and restricted stock units on weighted average common shares outstanding	—	—	0.1	0.1
Weighted average common shares outstanding – diluted	22.5	25.9	23.0	26.2

Basic EPS attributable to Lithia Motors, Inc. common stockholders	$11.56	$9.89	$15.71	$17.83
Diluted EPS attributable to Lithia Motors, Inc. common stockholders	$11.54	$9.87	$15.68	$17.80

We evaluated the effect of antidilutive securities on common stock for the three and six-month periods ended

June 30, 2026 and 2025 and determined the effect to be immaterial.