Penske Earnings Reports

Penske Automotive Group reported a record quarterly revenue of $7.72B, up 6.2% YoY, driven by a 7% increase in new vehicle sales and strong service & parts growth. Net income rose 24.0% to $236.4M, with EPS up 24.6% to $3.54. Operating margin improved to 4.3%, reflecting cost efficiencies.

Penske Automotive Group reported a 2% increase in revenue to $7.6 billion for Q3 2024. Net income attributable to common stockholders was $226.1 million, with earnings per share at $3.39. The company saw record retail automotive service and parts revenue, and its retail commercial truck business performed well.

Penske Automotive Group reported a 3% increase in revenue to $7.7 billion for Q2 2024, marking a quarterly record. The company's performance was driven by strong retail automotive and commercial truck businesses, with retail automotive service and parts revenue reaching a record $753 million, up 10%. Despite the revenue increase, net income attributable to common stockholders decreased to $241.2 million, and earnings per share decreased to $3.61.

Penske Automotive Group's first quarter 2024 results showed a revenue increase of 1.5% to $7.4 billion. However, net income attributable to common stockholders decreased to $215.2 million, with earnings per share at $3.21, impacted by higher interest costs and lower equity earnings from PTS.

Penske Automotive Group's Q4 2023 revenue increased by 4% to $7.3 billion. However, income from continuing operations attributable to common stockholders decreased by 36% to $190.7 million, with earnings per share decreasing by 33% to $2.84. The results were impacted by a goodwill impairment charge, lower equity earnings from PTS, and higher interest expense.

Penske Automotive Group reported an 8% increase in quarterly revenue, reaching $7.4 billion. However, net income attributable to common stockholders decreased by 23% to $263.4 million, with earnings per share decreasing by 15% to $3.92.

Penske Automotive Group reported an 8% increase in revenue to a record $7.5 billion for the second quarter of 2023. Net income attributable to common stockholders decreased by 20% to $300.8 million, with earnings per share decreasing by 11% to $4.41.

Penske Automotive Group reported a strong first quarter in 2023, with record revenue increasing by 5% to $7.3 billion. Same-store service and parts revenue increased by 10% in retail automotive and 11% in retail commercial trucks. Net income was $298 million, with earnings per share of $4.31. The company also repurchased 0.9 million shares of common stock for $110.2 million.

Penske Automotive Group announced record fourth quarter results, with revenue increasing 11% to $7.0 billion and earnings per share increasing 6% to $4.21. The company retailed more than 447,000 new and used vehicles through its retail automotive operations and over 20,000 new and used commercial trucks through its commercial truck dealerships.

Penske Automotive Group reported a strong third quarter with record revenue of $6.9 billion, a 7% increase year-over-year, and record earnings per share of $4.61, a 3% increase year-over-year. The company's performance was driven by strong demand for new vehicles and increased service and parts revenue.

Penske Automotive Group reported all-time record quarterly earnings for the second quarter of 2022. Revenue decreased slightly to $6.9 billion, but excluding foreign currency exchange impacts, revenue would have increased by 2%. Income from continuing operations increased by 10% to $374.0 million, with earnings per share up 17% to $4.93.

Penske Automotive Group announced record-breaking first-quarter results for 2022. Income from continuing operations increased by 102% to $367.9 million, and earnings per share rose by 111% to $4.76. The company also repurchased 1.9 million shares of common stock for $184 million year-to-date through April 26, 2022.

Penske Automotive Group reported a strong fourth quarter with record revenue, earnings before taxes, net income, and earnings per share. The company's performance was driven by strong retail automotive and commercial truck vehicle margins, a 26% increase in same-store retail automotive gross profit, and continued strong earnings from Penske Transportation Solutions.

Penske Automotive Group reported an all-time record third quarter in 2021. Earnings before taxes, net income, and earnings per share all increased by more than 43%. Same-store retail automotive revenue increased 6.6%.

Penske Automotive Group reported record second-quarter results, with a 652.9% increase in income from continuing operations attributable to common shareholders, reaching $338.8 million, and a 650.0% increase in earnings per share to $4.20. The company's performance was driven by strength across all areas of the business, including strong volume and vehicle margins, improving service and parts operations, and a growing commercial truck market.

Penske Automotive Group reported record first quarter results, with a 15.3% increase in total revenue to $5.8 billion and a 253.1% increase in earnings per share to $2.26. The company benefited from strong performance across its retail automotive and commercial truck dealerships, as well as its investment in Penske Transportation Solutions.

Penske Automotive Group reported a 97% increase in income from continuing operations attributable to common shareholders to $200.1 million, and a 99% increase in related earnings per share to $2.49. Revenue was $5.8 billion compared to $5.9 billion in the same period last year.

Penske Automotive Group announced record results for Q3 2020, with income from continuing operations attributable to common shareholders reaching $246.5 million, or $3.07 per share. Revenue remained flat at $6 billion. These results were driven by same-store retail automotive revenue and margin expansion, coupled with expense reductions.

Penske Automotive Group reported a challenging second quarter in 2020 due to the COVID-19 pandemic, with revenue decreasing to $3.7 billion and earnings per share falling to $0.56. The company's diversification, particularly retail commercial trucks and Penske Transportation Solutions, helped offset the impact of the automotive retail environment. The company took actions to control costs, manage inventory, and preserve liquidity, which led to sequential improvement throughout the quarter.

Penske Automotive Group's first quarter 2020 results were impacted by the COVID-19 pandemic, particularly in March. Income from continuing operations was $51.6 million, or $0.64 per share, compared to $100.1 million, or $1.19 per share in the prior year. Revenue decreased to $5.0 billion from $5.6 billion in the same period last year. The company implemented measures to mitigate the impact of COVID-19, including expense reductions and workforce furloughs.

Penske Automotive Group reported an 8.1% increase in revenue for the fourth quarter of 2019, reaching a record high. Earnings per share increased by 8.7% to $1.25, and by 12.6% compared to the adjusted fourth quarter of 2018. The company's performance was driven by strength in U.S. auto retail operations and the recent commercial truck acquisition, offsetting challenging market conditions in the U.K.