Penske Automotive Group Inc. (PAG) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line totaled $215.2 million, or $3.21 per share. This compares with $298.3 million, or $4.31 per share, in last year's first quarter.
Analysts on average had expected the company to earn $3.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 1.5% to $7.45 billion from $7.34 billion last year.
Penske Automotive Group Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $215.2 Mln. vs. $298.3 Mln. last year.
-EPS (Q1): $3.21 vs. $4.31 last year.
-Revenue (Q1): $7.45 Bln vs. $7.34 Bln last year.
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