Penske Automotive Group (NYSE: PAG ) reported earnings on Nov. 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Penske Automotive Group beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Penske Automotive Group reported revenue of $3.40 billion. The 10 analysts polled by S&P Capital IQ expected sales of $3.30 billion on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $2.95 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.46. The 11 earnings estimates compiled by S&P Capital IQ averaged $0.57 per share. GAAP EPS of $0.45 for Q3 were 26% lower than the prior-year quarter's $0.61 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 15.0%, 80 basis points worse than the prior-year quarter. Operating margin was 2.6%, 10 basis points worse than the prior-year quarter. Net margin was 1.2%, 70 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.22 billion. On the bottom line, the average EPS estimate is $0.53.
Next year's average estimate for revenue is $13.13 billion. The average EPS estimate is $2.21.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Penske Automotive Group is outperform, with an average price target of $32.50.
If you're invested in retailers like Penske Automotive Group, you should check out the concept that is The Motley Fool's top stock for 2012. Its founder wrote the book on big box retailing, and it's growing in increasingly important international markets. Click here for instant access to this free report.
- Add Penske Automotive Group to My Watchlist.