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

Editors Pick
Tesla Motors Inc. (TSLA) has launched a new referral program for owners and new buyers of its Model S, as the electric car maker aims to boost sales with the latest marketing strategy. Tesla's referral program offers new buyers a discount of $1,000 if they order a new Model S using the referral link... Marriott reported a 25 percent jump in quarterly profit, topping analysts' estimates, as customers flocked to its hotel properties, driving up occupancy and room rates. The hotel chain provided weak earnings outlook for the current quarter, but lifted its expectations for 2015... Social networking giant Facebook, Inc. said Wednesday after the markets closed that its second quarter profit fell 9% from last year, as higher costs and expenses more than offset a 39% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
RELATED NEWS
Trade PAG now with 
Follow RTT