Penske Automotive Group (PAG) Tops Q2 EPS by 14c, Revenues Beat

Penske Automotive Group (NYSE: PAG) reported Q2 EPS of $1.58, $0.14 better than the analyst estimate of $1.44. Revenue for the quarter came in at $5.9 billion versus the consensus estimate of $5.8 billion.

• Revenue Increases 10.3% to $5.9 Billion
• Income from Continuing Operations Attributable to Common Shareholders Increases 27.0% to $134.6 Million
• Earnings Per Share from Continuing Operations Attributable to Common Shareholders Increases 28.5% to $1.58

"Our business produced outstanding results in the second quarter, demonstrating the strength of our diversified transportation services model," said Penske Automotive Group Chairman Roger S. Penske. "The retail automotive dealership business remains strong, generating same-store increases in new, used, and finance & insurance gross profit per unit retailed. I am particularly pleased with the performance of the stand-alone used vehicle supercenter operations which retailed 18,832 vehicles, generated $346.7 million in revenue, and returned over 4.3% on sales during the quarter. Contributing to the company's record second quarter was a 45.5% same-store retail revenue increase in the company's North American retail commercial truck business and our investment in Penske Truck Leasing."

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

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