Penske Automotive ( (PAG) ) has released its Q1 earnings. Here is a breakdown of the information Penske Automotive presented to its investors.
Penske Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and a leading automotive and commercial truck retailer, operating across several countries including the United States, the United Kingdom, and Australia. The company also holds a significant stake in Penske Transportation Solutions, a major player in truck leasing and logistics.
Penske Automotive Group reported a record first-quarter revenue of $7.6 billion, marking a 2% increase from the previous year. The company also saw a 14% rise in net income attributable to common stockholders, reaching $244.3 million, and a 14% increase in earnings per share to $3.66.
Key financial highlights include a 2% increase in same-store retail automotive revenue and a 3% rise in gross profit. The company also reported a 4% increase in service and parts revenue, contributing to a 6% rise in related gross profit. Despite a challenging freight environment, the retail commercial truck segment saw a 4% increase in unit sales, although same-store revenue decreased by 3%.
Penske Automotive continues to leverage its premium brand mix and geographic diversification to navigate the evolving automotive landscape. The company remains vigilant about potential impacts from tariffs and is poised to adapt its business model to meet changing market demands.
Looking ahead, Penske Automotive Group’s management remains optimistic about the company’s ability to maintain its growth trajectory, supported by its diverse portfolio and strategic investments in premium brands and international markets.