logo
Share SHARE
FONT-SIZE Plus   Neg

Penske Automotive Group Q1 Profit Rises - Quick Facts

Penske Automotive Group Inc. (PAG) reported that its first-quarter net income attributable to common shareholders was $46.82 million or $0.52 per share, compared to $33.93 million or $0.37 per share in the same quarter last year.

Income from continuing operations attributable to common shareholders increased 37.3% to $50.0 million and related earnings per share increased 41.0% to $0.55 per share. This compares to income from continuing operations attributable to common shareholders of $36.4 million, or $0.39 per share in the same period last year.

First quarter revenue increased by 17.9% to $3.2 billion, driven by an improvement in total retail unit sales of 18.1% and growth in the Company's used-to-new ratio to 0.89 to 1 from 0.78 to 1 in the same period last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share on revenues of $3.12 billion for the quarter. Analysts' estimates typically exclude special items.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Weinstein Co. said it has entered into a preliminary agreement for immediate capital infusion from Colony Capital, the global private equity arm of Colony NorthStar, Inc. In addition, Weinstein Co. has entered into a negotiating period with Colony Capital for a potential sale of all or a significant portion of its assets. Further details of the deal were not disclosed. In the first such incident in Canada, a commercial airplane was struck by a drone last week, the government said Sunday. However, the aircraft was able to land safely. A plane operated by charter airline Skyjet was struck on one of its wings by a drone when it was approaching Quebec City's Jean Lesage International Airport last Thursday. Ford Motor Co. said Friday that it will offer free repairs to North American owners of more than 1.4 million 2011-17 Explorer sports utility vehicles to reduce the potential for exhaust or carbon monoxide entering their vehicles. The recall involves about 1.3 million vehicles in the U.S., 84,000 in Canada and 24,000 in Mexico.
comments powered by Disqus
Follow RTT