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Penske (PAG) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Penske Automotive (PAG - Free Report) reported $7.27 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 3.7%. EPS of $3.45 for the same period compares to $4.21 a year ago.
The reported revenue represents a surprise of +1.19% over the Zacks Consensus Estimate of $7.19 billion. With the consensus EPS estimate being $3.66, the EPS surprise was -5.74%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 51,786 compared to the 52,310 average estimate based on three analysts.
Retail Automotive Units - Used Retail: 57,490 compared to the 60,987 average estimate based on three analysts.
Retail Automotive Units - Total: 109,276 versus 113,297 estimated by three analysts on average.
Retail Automotive Gross Profit Per Vehicle Retailed - New Vehicles: $5,531 compared to the $5,525.85 average estimate based on three analysts.
Revenue- Retail Automotive: $6.18 billion versus the four-analyst average estimate of $6.06 billion. The reported number represents a year-over-year change of +4.5%.
Revenue- Commercial Vehicle Distribution and Other: $189.40 million versus the four-analyst average estimate of $147.84 million. The reported number represents a year-over-year change of +34.7%.
Revenue- Retail Automotive- Finance and Insurance, Net: $207.60 million compared to the $209.74 million average estimate based on four analysts. The reported number represents a change of +3.1% year over year.
Revenue- Retail Automotive- Service and Parts: $680.90 million versus the four-analyst average estimate of $674.93 million. The reported number represents a year-over-year change of +7.5%.
Revenue- Retail Automotive- Fleet and Wholesale: $330.20 million versus the four-analyst average estimate of $351.78 million. The reported number represents a year-over-year change of +3.4%.
Revenue- Retail Commercial Truck: $904.80 million compared to the $948.72 million average estimate based on four analysts. The reported number represents a change of -5.8% year over year.
Revenue- Retail Automotive- New Vehicles: $2.99 billion compared to the $2.82 billion average estimate based on four analysts. The reported number represents a change of +8.2% year over year.
Revenue- Retail Automotive- Used Vehicles: $1.97 billion versus $2 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change.
Shares of Penske have returned -0.9% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Penske (PAG) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Penske Automotive (PAG - Free Report) reported $7.27 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 3.7%. EPS of $3.45 for the same period compares to $4.21 a year ago.
The reported revenue represents a surprise of +1.19% over the Zacks Consensus Estimate of $7.19 billion. With the consensus EPS estimate being $3.66, the EPS surprise was -5.74%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 51,786 compared to the 52,310 average estimate based on three analysts.
- Retail Automotive Units - Used Retail: 57,490 compared to the 60,987 average estimate based on three analysts.
- Retail Automotive Units - Total: 109,276 versus 113,297 estimated by three analysts on average.
- Retail Automotive Gross Profit Per Vehicle Retailed - New Vehicles: $5,531 compared to the $5,525.85 average estimate based on three analysts.
- Revenue- Retail Automotive: $6.18 billion versus the four-analyst average estimate of $6.06 billion. The reported number represents a year-over-year change of +4.5%.
- Revenue- Commercial Vehicle Distribution and Other: $189.40 million versus the four-analyst average estimate of $147.84 million. The reported number represents a year-over-year change of +34.7%.
- Revenue- Retail Automotive- Finance and Insurance, Net: $207.60 million compared to the $209.74 million average estimate based on four analysts. The reported number represents a change of +3.1% year over year.
- Revenue- Retail Automotive- Service and Parts: $680.90 million versus the four-analyst average estimate of $674.93 million. The reported number represents a year-over-year change of +7.5%.
- Revenue- Retail Automotive- Fleet and Wholesale: $330.20 million versus the four-analyst average estimate of $351.78 million. The reported number represents a year-over-year change of +3.4%.
- Revenue- Retail Commercial Truck: $904.80 million compared to the $948.72 million average estimate based on four analysts. The reported number represents a change of -5.8% year over year.
- Revenue- Retail Automotive- New Vehicles: $2.99 billion compared to the $2.82 billion average estimate based on four analysts. The reported number represents a change of +8.2% year over year.
- Revenue- Retail Automotive- Used Vehicles: $1.97 billion versus $2 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change.
View all Key Company Metrics for Penske here>>>Shares of Penske have returned -0.9% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.