Penske Q2 2024 Earnings Report
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%.
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Penske Revenue by Segment
Penske 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