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
Reports that Gary Cohn is considering resigning as President Donald Trump's top economic advisor have weighed on Wall Street, although the White House has denied the claims. Cohn, former president and chief operating officer of Goldman Sachs (GS), currently serves as the Director of the National Economic Council. A Pennsylvania woman has sued Chick-fil-A after she claimed a dead rodent was found baked into her chicken sandwich. Ellen Manfalouti of Northampton has filed a lawsuit in Bucks County Court against Chick-fil-A, seeking more than $50,000 for the physical and psychological damages that she endured after the incident occurred. Early Uber investor Shervin Pishevar has alleged that venture capital firm Benchmark Capital is seeking to remove Arianna Huffington from the ride-hailing company's board of directors. Pishevar also accused Benchmark of holding Uber hostage by threatening to block investments in the company and urged it to step down from Uber's board of directors.
comments powered by Disqus
Follow RTT