Penske Automotive Group (PAG) Reports In-Line Q3 EPS

Penske Automotive Group (NYSE: PAG) reported Q3 EPS of $0.85, in-line with the analyst estimate of $0.85. Revenue for the quarter came in at $4.4 billion versus the consensus estimate of $4.39 billion.

Highlights:

• Total Retail Unit Sales Increased 10.2% to 104,963
  • +9.2% in the United States; +12.5% Internationally
  • New unit retail sales +9.2%
  • Used unit retail sales +11.6%
• Same-store Retail Revenue Increased 11.2%
  • New +8.3%; Used +16.6%; Finance & Insurance +12.2%; Service and Parts +11.0%
  • +7.5% in the United States; +18.1% Internationally
• Average Transaction Price Per Unit
  • New $38,955; +4.0%
  • Used $27,299; +8.2%
• Average Gross Profit Per Unit
  • New $2,989, +$177/unit; Gross Margin 7.7%, +20 basis points
  • Used $1,800, -$69/unit; Gross Margin 6.6%, -80 basis points
  • Finance & Insurance $1,092, +$60/unit

For earnings history and earnings-related data on Penske Automotive Group (PAG) click here.

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