Penske Automotive (PAG) Company Overview

A strategic partnership is anticipated to enhance customer experience as Penske Automotive Group has acquired Porsche Centre Melbourne, marking its third location in Melbourne and the 25th globally. This acquisition was announced on December 2, 2024, and highlights Penske's status as a leading international transportation services company. The company operates in nine countries across four continents, focusing on automotive and commercial truck retail.

Penske (PAG) shared its earnings report 30 days ago. What can we expect for the stock moving forward?

Since 2019, Penske Automotive Group has increased its NOPAT by 17% each year, showing strong growth after the pandemic and better earnings. Although the efficiency of its balance sheet has decreased, its return on invested capital (ROIC) has slightly risen from 6.4% to 6.6%, indicating steady profitability. The company's intrinsic value has doubled since 2019, and with a PEBV of 1.33, it suggests a good valuation and promising growth ahead.

LOS ANGELES--(BUSINESS WIRE)--CUPRA, the unique challenger brand from Barcelona, has started initial discussions with Penske Automotive Group to consider a new partnership as it plans to enter the U.S. market by the end of the decade. Since its debut in 2018, CUPRA, the first new car brand from the Volkswagen Group, has sold more than 750,000 vehicles. After achieving success in Europe, the brand is now ready to expand its momentum into the United States.

Oppenheimer & Co. Inc. recently held its 20th annual Professionals Alliance Group (PAG) Conference in New York, where they gathered financial advisors, investment managers, and senior leaders with trusted industry professionals like Certified Public Accountants. The event focused on sharing strategies and discussing macro trends to improve client service. Oppenheimer's PAG Referral and Partnership Program allows accounting firms and others to benefit from their wealth management, capital markets, and investment banking services.

PAG did not meet earnings expectations for the third quarter due to disappointing results from the Retail Automotive sector.

Penske Automotive Group, Inc. (NYSE:PAG) will hold its Q3 2024 Earnings Conference Call on October 29, 2024, at 1:00 PM ET. Key company participants include Tony Pordon, Roger Penske, and Shelley Hulgrave, among others. The call will be recorded and can be replayed on the company's website until November 6, 2024.

Penske Automotive (PAG) reported quarterly earnings of $3.36 per share, which is lower than the Zacks Consensus Estimate of $3.48 per share. This is a decrease compared to earnings of $3.90 per share from the same period last year.

Penske Automotive Group, Inc. reported a 2% increase in quarterly revenue, reaching $7.6 billion. The company also achieved a record in retail automotive service and parts revenue, totaling $778 million, which is a 14% rise. Additionally, earnings before taxes were $304.4 million, resulting in earnings per share of $3.39.