Penske Automotive Q1 Earnings Exceed Expectations

Comments
Loading...
  • Penske Automotive Group Inc PAG reported first-quarter FY22 sales growth of 21% year-on-year to $6.97 billion, beating the consensus of $6.34 billion.
  • Total retail automotive revenue increased 16% to $6.0 billion, or 11% on a same-store basis.
  • The gross profit increased 34.9% Y/Y to $1.2 billion and the gross margin expanded 190 basis points Y/Y to 17.7%.
  • Selling, general and administrative expenses rose 20.1% Y/Y to $797.8 million.
  • The operating margin expanded 200 basis points to 5.8%, and operating income for the quarter jumped 83.1% to $402 million.
  • Adjusted EBITDA for the quarter was $546 million.
  • EPS of $4.76 beat the analyst consensus of $3.77.
  • The company held $170.3 million in cash and equivalents as of March 31, 2022.
  • Price Action: PAG shares are trading lower by 2.22% at $97.02 on the last check Wednesday.
Overview Rating:
Good
75%
Technicals Analysis
100
0100
Financials Analysis
60
0100
Overview
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise

Posted In: