Penske Automotive Group
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Penske Automotive Group beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share expanded.
Gross margins dropped, operating margins grew, net margins contracted.
Penske Automotive Group tallied revenue of $3.37 billion. The nine analysts polled by S&P Capital IQ anticipated revenue of $3.31 billion on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $2.93 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 $0.57. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.53 per share. GAAP EPS of $0.54 for Q4 were 1.9% higher than the prior-year quarter's $0.53 per share. (The prior-year quarter included $0.08 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 15.3%, 10 basis points worse than the prior-year quarter. Operating margin was 2.7%, 20 basis points better than the prior-year quarter. Net margin was 1.4%, 20 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.43 billion. On the bottom line, the average EPS estimate is $0.61.
Next year's average estimate for revenue is $14.25 billion. The average EPS estimate is $2.46.
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 $32.78.
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