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Penske (PAG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Penske Automotive (PAG - Free Report) reported revenue of $7.34 billion, up 5.2% over the same period last year. EPS came in at $4.31, compared to $4.76 in the year-ago quarter.
The reported revenue represents a surprise of +7.41% over the Zacks Consensus Estimate of $6.83 billion. With the consensus EPS estimate being $4.03, the EPS surprise was +6.95%.
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:
Revenue- Retail Automotive- New Vehicles: $2.72 billion compared to the $2.43 billion average estimate based on three analysts.
Revenue- Retail Automotive- Used Vehicles: $2.30 billion versus $2.02 billion estimated by three analysts on average.
Revenue- Retail Automotive- Finance and Insurance, Net: $206.80 million versus $218.46 million estimated by three analysts on average.
Revenue- Retail Commercial Truck: $895.60 million compared to the $870.31 million average estimate based on three analysts. The reported number represents a change of +13% year over year.
Revenue- Retail Automotive- Fleet and Wholesale: $391.60 million compared to the $360.39 million average estimate based on three analysts.
Revenue- Commercial Vehicle Distribution and Other: $143.60 million versus the three-analyst average estimate of $160.20 million. The reported number represents a year-over-year change of -6.7%.
Revenue- Retail Automotive: $6.30 billion compared to the $5.65 billion average estimate based on three analysts. The reported number represents a change of +4.5% year over year.
Revenue- Retail Automotive- Service and Parts: $683 million versus $617.67 million estimated by three analysts on average.
Gross Profit- Retail Automotive- New Vehicles: $313.80 million compared to the $284.19 million average estimate based on three analysts.
Gross Profit- Retail Automotive- Used Vehicles: $122.60 million versus the three-analyst average estimate of $106.58 million.
Gross Profit- Retail Automotive- Finance and Insurance, Net: $206.80 million versus the three-analyst average estimate of $197.24 million.
Gross Profit- Retail Commercial Trucks: $147 million compared to the $122.90 million average estimate based on three analysts.
Shares of Penske have returned +1.6% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Penske (PAG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Penske Automotive (PAG - Free Report) reported revenue of $7.34 billion, up 5.2% over the same period last year. EPS came in at $4.31, compared to $4.76 in the year-ago quarter.
The reported revenue represents a surprise of +7.41% over the Zacks Consensus Estimate of $6.83 billion. With the consensus EPS estimate being $4.03, the EPS surprise was +6.95%.
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:
- Revenue- Retail Automotive- New Vehicles: $2.72 billion compared to the $2.43 billion average estimate based on three analysts.
- Revenue- Retail Automotive- Used Vehicles: $2.30 billion versus $2.02 billion estimated by three analysts on average.
- Revenue- Retail Automotive- Finance and Insurance, Net: $206.80 million versus $218.46 million estimated by three analysts on average.
- Revenue- Retail Commercial Truck: $895.60 million compared to the $870.31 million average estimate based on three analysts. The reported number represents a change of +13% year over year.
- Revenue- Retail Automotive- Fleet and Wholesale: $391.60 million compared to the $360.39 million average estimate based on three analysts.
- Revenue- Commercial Vehicle Distribution and Other: $143.60 million versus the three-analyst average estimate of $160.20 million. The reported number represents a year-over-year change of -6.7%.
- Revenue- Retail Automotive: $6.30 billion compared to the $5.65 billion average estimate based on three analysts. The reported number represents a change of +4.5% year over year.
- Revenue- Retail Automotive- Service and Parts: $683 million versus $617.67 million estimated by three analysts on average.
- Gross Profit- Retail Automotive- New Vehicles: $313.80 million compared to the $284.19 million average estimate based on three analysts.
- Gross Profit- Retail Automotive- Used Vehicles: $122.60 million versus the three-analyst average estimate of $106.58 million.
- Gross Profit- Retail Automotive- Finance and Insurance, Net: $206.80 million versus the three-analyst average estimate of $197.24 million.
- Gross Profit- Retail Commercial Trucks: $147 million compared to the $122.90 million average estimate based on three analysts.
View all Key Company Metrics for Penske here>>>Shares of Penske have returned +1.6% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.