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Penske: 2Q Earnings Snapshot

July 30, 2019

BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Tuesday reported second-quarter net income of $118.8 million.

On a per-share basis, the Bloomfield Hills, Michigan-based company said it had profit of $1.42.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.

The auto dealership chain posted revenue of $5.76 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $5.93 billion.

Penske shares have climbed 16% since the beginning of the year. The stock has dropped 8% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAG at https://www.zacks.com/ap/PAG

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