Penske Automotive reports Q3 EPS $3.92, consensus $4.04

Reports Q3 revenue $7.45B, consensus $7.26B. Commenting on the company’s financial results, chair and CEO Roger Penske said, “Our diversified business produced another solid quarter of profitability. The new vehicle market remains solid while used vehicle supply and affordability remains challenging. I am particularly pleased with the 9% increase in same-store service and parts revenue. Additionally, our equity income from Penske Transportation Solutions improved sequentially as long-term contract sales remain strong.”