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Jun 30, 2024
Penske Q2 2024 Earnings Report
Penske Automotive Group's Q2 2024 results were released, showing revenue growth and sequential improvement in earnings.
Key Takeaways
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.
Revenue increased 3% year-over-year to $7.7 billion, a quarterly record.
Retail automotive service and parts revenue increased 10% to a record $753 million.
Earnings before taxes and earnings per share showed sequential improvement from Q1 2024, increasing by 10% and 12%, respectively.
Total new and used retail automotive units delivered increased by 2%.
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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