Penske Automotive Group (PAG) Tops Q3 EPS by 1c, Revenues Beat

Penske Automotive Group (NYSE: PAG) reported Q3 EPS of $1.42, $0.01 better than the analyst estimate of $1.41. Revenue for the quarter came in at $5.97 billion versus the consensus estimate of $5.85 billion.

"Our business produced another quarter of record revenue," said Penske Automotive Group Chair and CEO Roger Penske."I am particularly pleased with the 30-basis points improvement in selling, general and administrative expense as a percentage of gross profit we achieved during the quarter, coupled with the strength in the performance of our U.S. retail automotive businesses, including finance and insurance gross profit, and the North American commercial truck dealership business. Despite the challenges from the U.K., I am very pleased with the performance of our business in the third quarter which demonstrates the positive impact from the Warner Truck Group acquisition and share repurchases."

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

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