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Sep 30, 2021
Penske Q3 2021 Earnings Report
Penske Automotive reported record quarterly results driven by strength across all areas of the business and disciplined cost controls.
Key Takeaways
Penske Automotive Group reported an all-time record third quarter in 2021. Earnings before taxes, net income, and earnings per share all increased by more than 43%. Same-store retail automotive revenue increased 6.6%.
Total revenue increased 8.8% to $6.5 billion.
Income from continuing operations attributable to common shareholders increased 43.9% to $354.8 million.
Earnings per share increased 45.3% to $4.46.
Retail Automotive Same-Store Revenue increased 6.6%.
Revenue by Geographic Location
Forward Guidance
Penske Automotive Group did not provide specific forward guidance in this earnings report. However, they expressed confidence in their business model and diversification despite ongoing supply chain challenges.
Positive Outlook
- Strength across all areas of business.
- Continued strong vehicle margins.
- Improving service and parts operations.
- Growing Class 8 commercial truck market.
- Record performance at Penske Transportation Solutions.
Challenges Ahead
- Ongoing supply-chain challenges.
- Impact on the availability of new vehicles in both the automotive and commercial truck markets.
- Potential slowdown of parts originating in the U.K. or Europe due to new Brexit rules.
- Adverse conditions affecting a particular manufacturer.
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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