Penske: Q3 Earnings Snapshot
By AP News
Published - Oct 29, 2024, 07:11 AM ET
Last Updated - Dec 16, 2024, 05:54 PM EST
BLOOMFIELD HILLS, Mich. (AP) — BLOOMFIELD HILLS, Mich. (AP) — Penske Automotive Group Inc. (PAG) on Tuesday reported third-quarter earnings of $226.1 million.
On a per-share basis, the Bloomfield Hills, Michigan-based company said it had profit of $3.39. Earnings, adjusted for non-recurring gains, were $3.36 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.48 per share.
The auto dealership chain posted revenue of $7.59 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $7.77 billion.
