PAG Q4 GAAP EPS $2.84 (-33% YoY); adjusted EPS $3.45; goodwill impairment $40.7M

PENSKE AUTOMOTIVE GROUP, INC.

2023-FY EPS reported $15.50 revenue$29,527,400,000

Q4 revenue $7.3B (+4% YoY); net income $190.7M (-36%); adjusted net income $231.4M (-22%).
Goodwill impairment of $40.7M ($0.61/sh) related to international used vehicle reporting unit.
Equity earnings from PTS fell 48% to $51.2M on higher costs and lower gains.
Dividend raised 10% to $0.87/sh; acquired Rybrook Group (16 UK franchises, ~$1B annual revenue).
Full-year EPS $15.50 (-16% YoY); adjusted EPS $16.10 (-13%); third most profitable year ever.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PENSKE AUTOMOTIVE GROUP, INC. reported fourth quarter and full year 2023 results: revenue $7.3 billion, net income $190.7 million, EPS $2.84.

Period: fourth quarter and full year 2023
Revenue: $7.3 billion
Net income: $190.7 million
EPS: $2.84
Result: reported results

Exact text from the filing

PENSKE AUTOMOTIVE GROUP REPORTS QUARTERLY AND FULL YEAR 2023 RESULTS Completes Third Most Profitable Year in Company History Fourth Quarter Revenue Increased 4% to $7.3 Billion Fourth Quarter Retail Automotive Same-Store Revenue Increased 4%, Including a 7% Increase in Service & Parts Fourth Quarter Profitability Impacted by Non-Cash Impairment Charge, Lower Equity Earnings From PTS, and Higher Interest Expense BLOOMFIELD HILLS, MI, February 7, 2024 – 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 fourth quarter and twelve months 2023 results. For the quarter, revenue increased 4% to $7.3 billion. Income from continuing operations attributable to common stockholders decreased 36% to $190.7 million from $298.0 million and related earnings per share decreased 33% to $2.84 from $4.21 when compared to the same period of 2022.

View on SEC.gov

Browse all earnings releases →

PENSKE AUTOMOTIVE GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001019849-24-000013

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.