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Mar 31, 2024
Penske Q1 2024 Earnings Report
Penske Automotive Group reported a revenue increase of 1.5% and EPS of $3.21 for the first quarter of 2024.
Key Takeaways
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.
Retail automotive revenue increased by 3%.
Gross margin increased 40 basis points sequentially to 16.7%.
Selling, general, and administrative expenses as a percentage of gross profit improved sequentially by 30 basis points to 70.7%.
Retail automotive service and parts revenue grew 9% to a quarterly record of $746 million.
Penske
Penske
Penske Revenue by Segment
Penske Revenue by Geographic Location
Revenue by Segment
New Vehicles Revenue
CapyFin.comUsed Vehicles Revenue
CapyFin.comFinance & Insurance Revenue
CapyFin.comService & Parts Revenue
CapyFin.comFleet & Wholesale Revenue
CapyFin.comTruck - New Vehicles Revenue
CapyFin.comTruck - Used Vehicles Revenue
CapyFin.comTruck - F&I Revenue
CapyFin.comTruck - Service & Parts Revenue
CapyFin.comCommercial Dist. & Other Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comU.K. Revenue
CapyFin.comOther International Revenue
CapyFin.com Forward Guidance
Penske Automotive Group did not provide specific forward guidance in the provided document.
Revenue & Expenses
Visualization of income flow from segment revenue to net income