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Penske (PAG) Reports Q1 Earnings: What Key Metrics Have to Say
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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.
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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Penske (PAG) Reports Q1 Earnings: What Key Metrics Have to Say
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.