Penske Automotive (PAG - Free Report) reported $7.45 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.5%. EPS of $3.19 for the same period compares to $4.31 a year ago.
The reported revenue represents a surprise of -0.08% over the Zacks Consensus Estimate of $7.45 billion. With the consensus EPS estimate being $3.35, the EPS surprise was -4.78%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Penske performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Retail Automotive Units - New Retail: 48,667 versus 54,084 estimated by three analysts on average.
- Retail Automotive Units - Used Retail: 69,265 versus the three-analyst average estimate of 67,818.
- Retail Automotive Units - Total: 126,864 compared to the 120,355 average estimate based on three analysts.
- Retail Automotive Gross Profit Per Vehicle Retailed - New Vehicles: $5,229 compared to the $5,488.15 average estimate based on three analysts.
- Revenue- Retail Automotive- Fleet and Wholesale: $387.10 million compared to the $376.93 million average estimate based on four analysts. The reported number represents a change of -1.2% year over year.
- Revenue- Commercial Vehicle Distribution and Other: $178 million versus the four-analyst average estimate of $156.55 million. The reported number represents a year-over-year change of +24%.
- Revenue- Retail Automotive- Service and Parts: $746.10 million versus the four-analyst average estimate of $746.82 million. The reported number represents a year-over-year change of +9.2%.
- Revenue- Retail Automotive- Finance and Insurance, Net: $206 million compared to the $224.75 million average estimate based on four analysts. The reported number represents a change of -0.4% year over year.
- Revenue- Retail Automotive- Used Vehicles: $2.34 billion versus $2.24 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.7% change.
- Revenue- Retail Automotive- New Vehicles: $2.80 billion compared to the $2.82 billion average estimate based on four analysts. The reported number represents a change of +3% year over year.
- Revenue- Retail Commercial Truck: $791.80 million versus $889 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -11.6% change.
- Revenue- Retail Automotive: $6.48 billion compared to the $6.42 billion average estimate based on three analysts. The reported number represents a change of +2.8% year over year.
View all Key Company Metrics for Penske here>>>Shares of Penske have returned -3.3% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Penske Automotive (PAG - Free Report) reported $7.45 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.5%. EPS of $3.19 for the same period compares to $4.31 a year ago.
The reported revenue represents a surprise of -0.08% over the Zacks Consensus Estimate of $7.45 billion. With the consensus EPS estimate being $3.35, the EPS surprise was -4.78%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Penske performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Retail Automotive Units - New Retail: 48,667 versus 54,084 estimated by three analysts on average.
- Retail Automotive Units - Used Retail: 69,265 versus the three-analyst average estimate of 67,818.
- Retail Automotive Units - Total: 126,864 compared to the 120,355 average estimate based on three analysts.
- Retail Automotive Gross Profit Per Vehicle Retailed - New Vehicles: $5,229 compared to the $5,488.15 average estimate based on three analysts.
- Revenue- Retail Automotive- Fleet and Wholesale: $387.10 million compared to the $376.93 million average estimate based on four analysts. The reported number represents a change of -1.2% year over year.
- Revenue- Commercial Vehicle Distribution and Other: $178 million versus the four-analyst average estimate of $156.55 million. The reported number represents a year-over-year change of +24%.
- Revenue- Retail Automotive- Service and Parts: $746.10 million versus the four-analyst average estimate of $746.82 million. The reported number represents a year-over-year change of +9.2%.
- Revenue- Retail Automotive- Finance and Insurance, Net: $206 million compared to the $224.75 million average estimate based on four analysts. The reported number represents a change of -0.4% year over year.
- Revenue- Retail Automotive- Used Vehicles: $2.34 billion versus $2.24 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.7% change.
- Revenue- Retail Automotive- New Vehicles: $2.80 billion compared to the $2.82 billion average estimate based on four analysts. The reported number represents a change of +3% year over year.
- Revenue- Retail Commercial Truck: $791.80 million versus $889 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -11.6% change.
- Revenue- Retail Automotive: $6.48 billion compared to the $6.42 billion average estimate based on three analysts. The reported number represents a change of +2.8% year over year.
View all Key Company Metrics for Penske here>>>Shares of Penske have returned -3.3% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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