Penske (PAG) Q2 Earnings Exceed Expectations, Decline Y/Y

Penske Automotive Group (PAG) reported second-quarter 2024 adjusted earnings of $3.61 per share, which decreased 18$3.43. Better-than-expected results from Commercial Vehicle Distribution and Other segment drove the outperformance. The company registered net sales of $7.69 billion, surpassing the Zacks Consensus Estimate by 0.02%. The top line rose 3.1% from the year-ago quarter's level. Penske's gross profit in the reported quarter declined 0.7 ...