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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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