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Sep 30, 2023
Penske Q3 2023 Earnings Report
Penske Automotive Group's Q3 2023 performance was marked by an 8% increase in revenue, driven by strong North American automotive and commercial truck operations, which was partially offset by lower earnings from its U.K. automotive operations, higher interest expense and lower equity earnings from its investment in Penske Transportation Solutions.
Key Takeaways
Penske Automotive Group reported an 8% increase in quarterly revenue, reaching $7.4 billion. However, net income attributable to common stockholders decreased by 23% to $263.4 million, with earnings per share decreasing by 15% to $3.92.
Revenue increased 8% to $7.4 billion.
Retail Automotive Same-Store Revenue increased 9%, including a 9% increase in Service & Parts.
Retail Commercial Truck Same-Store Gross Profit increased 6%.
Quarterly Dividend increased by $0.07 per share, or 9.7%, to $0.79 per share in October 2023.
Penske
Penske
Penske Revenue by Segment
Penske Revenue by Geographic Location
Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income