Penske Automotive reports Q4 adjusted EPS $3.45, consensus $3.69

Reports Q4 revenue $7.27B, consensus $7.21B. Commenting on the company’s fourth quarter financial results, chair and CEO Roger Penske said, “Demand for new vehicles remains strong while used vehicle supply and affordability remains challenging. I am pleased with the continued growth in service and parts gross profit and our continued focus on controlling costs. Also, I was particularly pleased with the sequential performance of retail automotive new and used vehicle gross profit per unit retailed which only declined marginally from the third to fourth quarter of 2023.”