Recap: Penske Automotive Group Q2 Earnings

Shares of Penske Automotive Group PAG were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share increased 698.21% year over year to $4.47, which beat the estimate of $2.12.

Revenue of $6,988,000,000 higher by 91.40% from the same period last year, which beat the estimate of $6,010,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Jul 28, 2021

Time: 02:00 PM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/pag/mediaframe/45994/indexr.html

Technicals

Company's 52-week high was at $93.45

52-week low: $44.38

Price action over last quarter: down 8.92%

Company Description

Penske Automotive Group operates in 21 U.S. states and overseas. It has 142 U.S. light-vehicle franchises in Puerto Rico as well as 162 franchises overseas, primarily in the United Kingdom. The company is the second- largest U.S.-based dealership in terms of light-vehicle revenue and sells more than 35 brands, with 93% of retail automotive revenue coming from luxury and import names. Other services, in addition to new and used vehicles, are parts and repair and finance and insurance. The firm's Premier Truck Group owns nearly 30 truck dealerships selling mostly Freightliner and Western Star brands, and Penske owns 17 CarShop used-vehicle stores in the U.S. and U.K. The company is based in Michigan and was called United Auto Group before changing its name in 2007.