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Jun 30, 2023
Penske Q2 2023 Earnings Report
Penske Automotive Group reported record quarterly revenue and strong performance from automotive and commercial truck operations, which was partially offset by higher interest expense and lower equity earnings.
Key Takeaways
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.
Revenue increased 8% to a quarterly record of $7.5 billion.
Retail automotive same-store revenue increased 6%, including an 11% increase in service & parts.
Retail commercial truck same-store revenue increased 19%, including a 4% increase in service & parts.
Earnings per share decreased 11% to $4.41.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Penske Automotive Group did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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