Penske Automotive Group Inc. (PAG) reported a profit for second quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $241.2 million, or $3.61 per share. This compares with $300.8 million, or $4.41 per share, in last year's second quarter.
Analysts on average had expected the company to earn $3.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.1% to $7.697 billion from $7.467 billion last year.
Penske Automotive Group Inc. earnings at a glance (GAAP) :
-Earnings (Q2): $241.2 Mln. vs. $300.8 Mln. last year.
-EPS (Q2): $3.61 vs. $4.41 last year.
-Revenue (Q2): $7.697 Bln vs. $7.467 Bln last year.
For comments and feedback: editorial@rttnews.com