Welcome to our dedicated page for Penske Automotv news (Ticker: PAG), a resource for investors and traders seeking the latest updates and insights on Penske Automotv stock.
Penske Automotive Group (NYSE: PAG) operates one of the world's premier transportation service networks, spanning automotive retail and commercial truck dealerships across three continents. This news hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and strategic initiatives.
Access real-time updates on earnings announcements, dealership acquisitions, and operational milestones. Our curated collection features press releases about PAG's luxury vehicle sales growth, commercial truck service expansions, and international partnership developments. Users will find analysis of quarterly results alongside coverage of leadership changes and industry recognition.
Key content includes updates on PAG's North American retail operations, European commercial vehicle expansions, and Asia-Pacific market strategies. Track developments in critical areas including electric vehicle infrastructure investments, premium brand partnerships, and digital retail innovations. All content is verified through primary sources to ensure regulatory compliance and factual accuracy.
Bookmark this page for streamlined access to Penske Automotive Group's latest business developments. Combine our news feed with SEC filings and earnings call transcripts for comprehensive investment research. Check back regularly for updates from this global leader in transportation services.
Penske Automotive Group (NYSE: PAG) reported a record revenue of $7.3 billion for Q1 2023, marking a 5% increase compared to the previous year. Despite this, net income attributable to common stockholders fell 19% to $298 million, and earnings per share decreased 9% to $4.31, partly due to adverse foreign currency exchange effects. Retail automotive same-store service & parts revenue rose 10%, and commercial truck same-store revenue increased 10%. The company's SG&A expenses improved sequentially by 140 basis points. Penske repurchased 0.9 million shares for $110.2 million during the quarter. The company continues to face challenges such as higher interest costs and inventory issues yet demonstrates robust operational strength in diversified sectors.
Penske Automotive Group (NYSE: PAG), based in Bloomfield Hills, Michigan, has announced its financial results conference call for the first quarter of 2023. Scheduled for April 26, 2023, at 2:00 p.m. EDT, the call will occur after the earnings release earlier that morning. Investors can join via phone or access a webcast through the company's website. The call will provide insights into the company's performance for the quarter, expected to be critical for stakeholders. Penske Automotive operates globally, specializing in automotive and commercial truck retail, and employs over 26,500 individuals. Additional details are available on their website.
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