Penske Automotive Group (NYSE: PAG) reported earnings on May 4. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Penske Automotive Group beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased and GAAP earnings per share expanded significantly.

Gross margins contracted, operating margins increased, net margins increased.

Revenue details
 Penske Automotive Group recorded revenue of $3.24 billion. The 10 analysts polled by S&P Capital IQ expected to see sales of $3.14 billion on the same basis. GAAP reported sales were 18% higher than the prior-year quarter's $2.75 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.55. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.48 per share. GAAP EPS of $0.51 for Q1 were 42% higher than the prior-year quarter's $0.36 per share. (The prior-year quarter included -$0.03 per share in earnings from discontinued operations.)

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 15.6%, 40 basis points worse than the prior-year quarter. Operating margin was 2.9%, 30 basis points better than the prior-year quarter. Net margin was 1.4%, 20 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $3.24 billion. On the bottom line, the average EPS estimate is $0.53.

Next year's average estimate for revenue is $12.91 billion. The average EPS estimate is $2.17.

Investor sentiment

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 $27.09.

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