Penske AutomotiveNYSE: PAG

PAG misses third-quarter earnings estimates on lower-than-expected results from the Retail Automotive segment.

Penske Automotive Group, Inc. (NYSE:PAG ) Q3 2024 Earnings Conference Call October 29, 2024 1:00 PM ET Company Participants Tony Pordon - Executive Vice President, Investor Relations and Corporate Development Roger Penske - Chair and Chief Executive Officer Rich Shearing - North American Operations Randall Seymore - International Operations Shelley Hulgrave - Executive Vice President and Chief Financial Officer Conference Call Participants John Murphy - Bank of America Ron Jewsikow - Guggenheim Securities Rajat Gupta - JPMorgan David Whiston - Morningstar Operator Ladies and gentlemen, good afternoon, welcome to the Penske Automotive Group Third Quarter 2024 Earnings Conference Call. Today's call is being recorded and will be available for replay approximately one hour after completion through November 6, 2024, on the Company's website under the Investors tab at www.penskeautomotive.com.

Penske Automotive (PAG) came out with quarterly earnings of $3.36 per share, missing the Zacks Consensus Estimate of $3.48 per share. This compares to earnings of $3.90 per share a year ago.

Quarterly Revenue Increases 2% to $7.6 Billion Record Quarterly Retail Automotive Service and Parts Revenue of $778.0 Million, up 14% Same-Store Retail Automotive Service and Parts Revenue up 7% and Related Gross Profit up 6% Earnings Before Taxes of $304.4 Million and Earnings Per Share of $3.39 BLOOMFIELD HILLS, Mich. , Oct. 29, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced quarterly results for the third quarter of 2024.

The headline numbers for Penske (PAG) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Acquisition Represents Third Porsche Location in Melbourne and 25th Worldwide BLOOMFIELD HILLS, Mich. , Oct. 23, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and nine countries, has signed an agreement to acquire Porsche Centre Melbourne, located in Melbourne, Australia, from Porsche Retail Group Australia Pty Ltd.

Penske (PAG) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

South Plains Financial (SPFI), Prosperity Bancshares (PB), Penske Automotive Group (PAG) and Bank First (BFC) recently announced dividend hikes.

Represents 16th Consecutive Quarterly Increase Balance Sheet Remains Strong and Leverage Remains Low BLOOMFIELD HILLS, Mich. , Oct. 16, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that its Board of Directors has approved a quarterly dividend of $1.19 per share, representing an increase of 11%, or $0.12 per share.