The Zacks Auto Retail and Wholesale industry is set for growth, driven by vehicle demand, which may receive an additional boost with the increased likelihood of a Federal Reserve rate cut next month. While sales have managed to hold ground, dealerships are offering attractive incentives amid high inventory levels, which are putting pressure on retailers' profit margins. Despite this, auto retailers like Penske Automotive (PAG) and Rush Enterprises (RUSHA) stand out for their strategic expansions and shareho ...

Monty Rakusen/DigitalVision via Getty Images Auto Dealer Stocks Hit The Accelerator In July It's been nine months since I last eovered Penske Automotive Group (NY SE:PAG). The story didn't change much for most of that period. The company continues to show nice revenue growth, hitting a quarterly record in 2Q 2024. This has not been translating to the bottom line, however, as margins have been returning to normal since hitting unsustainably high levels during the immediate post-pandemic period in 2022. Recal ...

Penske Automotive (PAG) came out with quarterly earnings of $3.61 per share, beating the Zacks Consensus Estimate of $3.43 per share. This compares to earnings of $4.41 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates just once. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on ...

Represents 15th Consecutive Quarterly Increase Increase Highlights Strength of Balance Sheet and Low Leverage Including this dividend distribution and the Company's securities repurchases, the Company will have returned approximately $271 million to shareholders so far in 2024. Further, Penske Automotive Group has completed acquisitions representing $2 billion in estimated annualized revenues this year, consistent with the Company's capital allocation strategy. Penske Automotive Group President, Robert Kurn ...

WHEN: Wednesday, July 31, 2024 TIME: 2:00 p.m. Eastern PHONE: United States, please dial (877) 692-8955 (access code 8247256) International, please dial (234) 720-6979 (access code 8247256) Note: Callers should dial-in approximately 10-15 minutes before the call begins WEBCAST: To access the live webcast of the conference call, please visit https://investors.penskeautomotive.com/events-and-presentations and select the webcast link Anthony Pordon Executive Vice President - Investor Relations BLOOMFIELD HILLS ...

rates; our ability to consummate, integrate, and realize returns on acquisitions; with respect to PTS, changes in the financial health of its customers, labor strikes or work stoppages by its employees, a reduction in PTS' asset utilization rates, continued availability from truck manufacturers and suppliers of vehicles and parts for its fleet, changes in values of used trucks which affects PTS' profitability on truck sales and regulatory risks and related compliance costs, our ability to realize returns on ...

Expands North American Operations to New Market Areas in Wisconsin and Minnesota Three Full-Service Freightliner and Western Star Dealerships: River States Truck and Trailer – Eau Claire, which will become Premier Truck Group of Eau Claire River States Truck and Trailer – La Crosse, which will become Premier Truck Group of La Crosse River States Truck and Trailer – Roberts, which will become Premier Truck Group of Roberts Two Independent Repair Facilities: JL Truck and Trailer, located in Osseo, WI Minnesot ...

commercial vehicles, engines, and power systems; natural disasters; recall initiatives or other disruptions that interrupt the supply of vehicles or parts to us; the outcome of legal and administrative matters, and other factors over which management has limited control. These forward-looking statements should be evaluated together with additional information about Penske Automotive Group's business, markets, conditions, risks, and other uncertainties, which could affect Penske Automotive Group's future per ...

Shares of Penske Automotive Group (PAG) have hardly moved since the company reported first-quarter 2024 results. It reported first-quarter 2024 adjusted earnings of $3.19 per share, which decreased 26% year over year and missed the Zacks Consensus Estimate of $3.35. The company registered net sales of $7.44 billion, which missed the Zacks Consensus Estimate of $7.45 billion. The top line, however, rose 1.5% from the year-ago quarter's level.Penske’s gross profit in the reported quarter declined 0.6% on a ye ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12297 Penske Automotive Group, Inc. (Exact name of registrant as specified in its charter) Delaware 22-3086739 (State or ot ...