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Sep 30, 2022
Penske Q3 2022 Earnings Report
Penske Automotive Group reported a record third quarter revenue, increasing by 7% to $6.9 billion and record earnings per share, increasing by 3% to $4.61.
Key Takeaways
Penske Automotive Group reported a strong third quarter with record revenue of $6.9 billion, a 7% increase year-over-year, and record earnings per share of $4.61, a 3% increase year-over-year. The company's performance was driven by strong demand for new vehicles and increased service and parts revenue.
Revenue increased 7% to $6.9 billion.
Earnings per share increased 3% to $4.61.
Premier Truck Group EBT increased 9% to $52.8 million.
Earnings From Penske Transportation Solutions increased 15% to $135.5 Million.
Penske
Penske
Penske Revenue by Segment
Penske Revenue by Geographic Location
Revenue by Segment
New Vehicles Revenue
CapyFin.comUsed Vehicles Revenue
CapyFin.comFinance & Insurance Revenue
CapyFin.comService & Parts Revenue
CapyFin.comFleet & Wholesale Revenue
CapyFin.comTruck - New Vehicles Revenue
CapyFin.comTruck - Used Vehicles Revenue
CapyFin.comTruck - F&I Revenue
CapyFin.comTruck - Service & Parts Revenue
CapyFin.comCommercial Dist. & Other Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comU.K. Revenue
CapyFin.comOther International Revenue
CapyFin.com Forward Guidance
Penske Automotive Group has added approximately $1.3 billion in annualized revenue through acquisitions and open points.
Positive Outlook
- Strong earnings and cash flow
- Board of Directors has increased the quarterly dividend four times in 2022 from $0.46 per share to $0.57 per share
- Repurchased 5.5 million shares of common stock for approximately $584.8 million
- Acquired 148,440 shares of common stock for $17.2 million from employees
- Increased the authority delegated to management to repurchase our outstanding securities by $250 million
Challenges Ahead
- General economic and industry conditions, including the effect of COVID-19 on the global economy
- The rate of inflation, including its impact on vehicle affordability
- Changes in interest rates and foreign currency exchange rates
- Our ability to obtain vehicles and parts from our manufacturers, especially in light of the COVID-19 pandemic and the war in Ukraine, including global shortages in microchip availability or other vehicle components
- Changes in the retail model either from direct sales by manufacturers, a transition to an agency model of sales, sales by online competitors, or from the expansion of electric vehicles
Revenue & Expenses
Visualization of income flow from segment revenue to net income