Penske Automotive Group (PAG) Tops Q2 EPS by 6c

Penske Automotive Group (NYSE: PAG) reported Q2 EPS of $1.05, $0.06 better than the analyst estimate of $0.99. Revenue for the quarter came in at $4.9 billion versus the consensus estimate of $4.89 billion.

Automotive Retail Highlights of the Second Quarter

• Total Retail Unit Sales Increased 7.5% to 108,277
  • +3.3% in the United States; +16.5% Internationally
  • New unit retail sales +6.3%
  • Used unit retail sales +8.8%
• Same-store Retail Revenue Increased 5.6%
  • New +4.2%; Used +8.2%; Finance & Insurance +8.3%; Service and Parts +4.3%
  • +4.2% in the United States; +7.8% Internationally
  • Excluding f/x, same-store retail revenue increased 9.8%
• Average Transaction Price Per Unit
  • New $39,834; -1.3%
  • Used $27,771; -0.2%
• Average Gross Profit Per Unit
  • New $2,999, -$123/unit; Gross Margin 7.5%, -20 basis points
    • Excluding f/x $3,128/unit, +$6/unit, Gross Margin 7.6%, -10 basis points
  • Used $1,777, -$197/unit; Gross Margin 6.4%, -70 basis points
    • Excluding f/x $1,861/unit, -$113/unit, Gross Margin 6.4%, -70 basis points
  • Finance & Insurance $1,125/unit, +$15/unit
    • Excluding f/x $1,162/unit, +$52/unit

For earnings history and earnings-related data on Penske Automotive Group (PAG) click here.

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