- Penske Automotive Group Inc PAG reported first-quarter FY23 sales growth of 5.2% year-on-year to $7.34 billion, beating the consensus of $6.99 billion.
- Foreign currency exchange negatively impacted revenue by $294.2 million. Excluding the impact of foreign currency exchange, revenue would have increased by 9%.
- Total retail automotive revenue increased 4% to $6.3 billion, including a 2% increase on a same-store basis.
- The company's gross profit increased 1.7% Y/Y to $1.3 billion, and the gross margin contracted 60 basis points Y/Y to 17.1%.
- Selling, general and administrative expenses rose 5.9% Y/Y to $844.9 million.
- The operating margin was 5.1%, and operating income for the quarter fell 7.1% to $373.5 million.
- EBITDA for the quarter decreased 15.5% Y/Y to $461.6 million.
- EPS of $4.31 beat the analyst consensus of $4.13.
- The company held $100.6 million in cash and equivalents as of March 31, 2023.
- The company repurchased 0.9 million shares for $110.2 million in the quarter.
- Price Action: PAG shares are trading higher by 0.62% at $137.75 on the last check Wednesday.
Loading...
Loading...
PAGPenske Automotive Group Inc
$157.351.12%
Edge Rankings
Momentum
63.82
Growth
45.52
Quality
62.37
Value
69.09
Price Trend
Short
Medium
Long
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
