Penske Automotive Q3 revenue up 8% to $7.4B, net income down 23%, EPS $3.92

PENSKE AUTOMOTIVE GROUP, INC.

2023-Q3 EPS reported $12.64 revenue$22,255,300,000

Revenue $7.4B (+8% YoY); net income $263.4M (-23%); EPS $3.92 vs $4.61.
Same-store service & parts revenue +9%; commercial truck same-store gross profit +6%.
Dividend raised 9.7% to $0.79/share; YTD increase of 39% from $0.57.
PTS equity income $84.1M vs $135.5M last year due to higher interest and maintenance costs.
Acquired BMW/Porsche dealerships in Wilmington, NC (~$140M ann. rev.) and TSTC Winnipeg (~$180M).

item 2.02 item 7.01 item 8.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

PENSKE AUTOMOTIVE GROUP, INC. reported third quarter of 2023 results: revenue $7.4 billion, net income $263.4 million, EPS $3.92.

Period: third quarter of 2023
Revenue: $7.4 billion
Net income: $263.4 million
EPS: $3.92
Result: reported results

Exact text from the filing

For the quarter, revenue increased 8% to $7.4 billion. Net income attributable to common stockholders decreased 23% to $263.4 million from $340.1 million, and related earnings per share decreased 15% to $3.92 from $4.61 when compared to the same period last year.

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Source: SEC EDGAR

accession 0001019849-23-000144

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