Penske Automotive Group Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Penske Automotive Group (NYSE:PAG) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$7.59b (up 1.9% from 3Q 2023).
• Net income: US$226.1m (down 14% from 3Q 2023).
• Profit margin: 3.0% (down from 3.5% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$3.39 (down from US$3.92 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Penske Automotive Group EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 1.4%.

Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Specialty Retail industry in the US.

Performance of the American Specialty Retail industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Penske Automotive Group (1 is a bit unpleasant!) that you need to take into consideration.

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