Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Penske Automotive (PAG)
:PAG
RESEARCH TOOLSreports
Holding PAG?
Track your performance easily
Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
3.3Last Year’s EPS
3.45Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: 3.88%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with strong financial performance and strategic growth initiatives, particularly in the commercial truck and international segments, offset by challenges from the stop sale of vehicles, cybersecurity incidents, and market softness in the U.K. and freight sectors.Company Guidance
In the third quarter of 2024, Penske Automotive Group (PAG) reported several key financial metrics, demonstrating solid performance despite certain challenges. The company achieved $304 million in income before taxes and $226 million in net income, with earnings per share at $3.39. Revenue increased by 2% to a record $7.6 billion, with the service parts segment seeing a 14% rise to $778 million. A significant portion of revenue, 72%, came from premium brands. Gross margin remained stable at 16.4%, while SG&A expenses were 71.2% of gross profit, nearly 800 basis points below pre-pandemic levels. PAG delivered 117,551 units, with new vehicle sales up 5%, although same-store new units fell by 2%. The average transaction price for new vehicles rose by 2% to $57,880, with gross profit per new vehicle at $5,072. Used vehicle sales declined by 13%, attributed to lower new sales in prior years and the transition of U.K. car shop locations to Sytner Select dealerships. Parts and service revenue hit a record $778 million, with customer pay up 4% and warranty up 20%. The company's liquidity stood at $1.7 billion, with debt to total capitalization at 26.4% and leverage at 1.3x.Record Revenue in Q3 2024
PAG reported a third quarter record revenue of $7.6 billion, with a 2% increase overall and a significant 14% increase in service parts revenue to $778 million.
Strong Financial Performance
Income before taxes was $304 million, net income was $226 million, and earnings per share were $3.39. Gross margins remained consistent at 16.4%, and SG&A expenses as a percentage of gross profit were 71.2%, nearly 800 basis points below pre-pandemic levels.
Growth in Retail Commercial Truck Business
Premier Truck Group saw a 14% increase in new and used unit sales in Q3, with a same-store increase of 9%. The business achieved $57 million in EBT for the quarter.
Penske Transportation Solutions Earnings Increase
PTS reported a 14% increase in sequential earnings, with a 3% increase in operating revenue to $2.8 billion.
Positive Developments in Australia
Acquisition of two Porsche dealerships in Melbourne, generating nearly $50 million in revenue at a 5% return on sales.
Robust Cash Flow and Shareholder Returns
Generated $962 million in cash flow from operations in the first 9 months and increased cash dividend by 11% to $1.19 per share. The company returned approximately $350 million to shareholders so far in 2024.
---
PAG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
PAG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $154.50 | $151.85 | -1.72% |
| Jul 31, 2024 | $162.59 | $171.69 | +5.60% |
| Apr 30, 2024 | $152.30 | $149.88 | -1.59% |
| Feb 07, 2024 | $145.92 | $144.47 | -0.99% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Penske Automotive (PAG) report earnings?
Penske Automotive (PAG) is schdueled to report earning on Feb 05, 2025, TBA Not Confirmed.
What is Penske Automotive (PAG) earnings time?
Penske Automotive (PAG) earnings time is at Feb 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PAG EPS forecast?
PAG EPS forecast for the fiscal quarter 2024 (Q4) is 3.3.
---