Lithia Motors (NYSE: LAD) reported earnings on April 24. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Lithia Motors beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.

Gross margins dropped, operating margins expanded, net margins increased.

Revenue details
 Lithia Motors booked revenue of $903.1 million. The eight analysts polled by S&P Capital IQ wanted to see revenue of $854.8 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $758.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.84. The nine earnings estimates compiled by S&P Capital IQ forecast $0.71 per share. Non-GAAP EPS of $0.84 for Q1 were 40% higher than the prior-year quarter's $0.60 per share. GAAP EPS of $0.85 for Q1 were 35% higher than the prior-year quarter's $0.63 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 16.2%, 60 basis points worse than the prior-year quarter. Operating margin was 4.5%, 30 basis points better than the prior-year quarter. Net margin was 2.4%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $952.7 million. On the bottom line, the average EPS estimate is $0.86.

Next year's average estimate for revenue is $3.77 billion. The average EPS estimate is $3.42.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Lithia Motors is outperform, with an average price target of $47.50.

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