secwatch.observer — SEC 8-K summary
======================================

Issuer:     PENSKE AUTOMOTIVE GROUP, INC. (PAG)
CIK:        0001019849
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001019849-24-000013
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019849/000101984924000013/0001019849-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019849/000101984924000013/pag-20240207.htm
  HTML page:      https://secwatch.observer/filing/0001019849-24-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer