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Tag Archives: penske automotive group
Penske Automotive Group Increases Dividend Yet Again
“We are pleased to reward shareholders with another increase in the quarterly dividend”, said Penske Automotive Group President Robert H. Kurnick, Jr. “We remain confident in our business and continue to generate strong cash flow, preserve a healthy balance sheet and maintain a disciplined approach to capital allocation.”
Penske Automotive Group’s Third Quarter 2025 Earnings Call is upcoming on 29 October 2025 at 2 pm ET. AutoCrat opines that this is a signal that the earnings will be strong. However, all the usual SEC forward looking statement caveats apply. Continue reading
Posted in auto news, customer satisfaction, economy, financial results, milestones, mobility company, news analysis, results, shows and events, transportation
Tagged auto industry commentary, AutoInformed news, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino of AutoInformed, Ken Zino of AutoInformed.com writing as AutoCrat, NYSE: PAG, penske automotive group, Robert H. Kurnick Jr, roger penske, X @KenAutoinformed
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Penske Automotive Group Posts Record $1.3B Q2 Gross Profit
“I am pleased with the performance of our diversified international transportation services business in the second quarter. The second quarter represented the third consecutive quarter of year-over-year earnings growth driven by an overall gross margin increase of 50 basis points, an increase of 50 basis points in retail automotive service and parts gross margin, and a 30-basis point improvement in selling, general and administrative expenses as a percentage of gross profit,” said Chair Roger Penske.
“New and used vehicle gross profit per unit retailed remained stable and strong while retail automotive same-store service and parts revenue increased 7%.” Penske continued, “While we continue to monitor the potential impact to our business from tariffs, the benefits provided by our premium brand mix, geographic diversification across the North American retail commercial truck, the U.S. and international automotive markets, and the diversification of our gross profit across new and used vehicles, service and parts, and finance and insurance, coupled with our highly variable cost structure, provide us with opportunities to flex our business to meet the changing automotive and commercial truck landscape,” Penske said. Continue reading
Posted in auto news, economy, financial results, mobility company, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, pag, penske automotive group, Penske Transportation Solutions, Premier Truck Group, roger penske, X @KenAutoinformed
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Penske Automotive Group Increases Dividend Again
“We are pleased to provide shareholders with another increase in the quarterly dividend, reflecting the continued strength of our balance sheet and strong cash flow,” said Penske Automotive Group President Robert H. Kurnick, Jr Continue reading
Posted in auto news, financial results, milestones, news analysis, shows and events, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, pag, penske automotive group, Penske Entertainment, Penske Transportation Solutions, Robert H. Kurnick Jr, roger penske, X @KenAutoinformed
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Penske Automotive Adds Ferrari Dealership in Modena!
Penske Automotive Group (NYSE: PAG)* said today that it has completed the acquisition of the Ferrari dealership in Modena, Italy. Located in Emilia Romagna, the heart of the so-called Italian Motor Valley that is home to Ferrari, Lamborghini, Maserati, Pagani, Ducati and Dallara, this Ferrari dealership expands the PAG’s existing luxury presence in Italy to 29 automotive retail locations. PAG now represents nine Ferrari locations worldwide, including Maranello Classic Parts, the only official Ferrari classic parts distributor in the world. The forecast estimated annualized revenue of the Modena location is $40 million. Continue reading
Posted in auto news, marketing, milestones, mobility company, news analysis, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Dallara, ducati, ferrari, Ken Zino, lamborghini, maserati, pag, Pagani, penske automotive group, Penske Transportation Solutions, Randall Seymore, X @KenAutoinformed
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Penske Automotive Group Posts Record Q4 Revenue of $7.7B
“I am pleased with our financial performance during the fourth quarter. Revenue increased 6% to $7.7 billion, a quarterly record. New and used automotive gross profit per unit retailed remained strong, including a $74 per unit sequential increase in new vehicle gross profit per unit retailed when compared to the third quarter of 2024, and same-store service and parts revenue and gross profit increased 7% and 9%, respectively,” said Chair Roger Penske.
The Company’s Board of Directors has approved a quarterly dividend of $1.22 per share, representing an increase of 2.5%, or $0.03 per share. This represents the Company’s 17th consecutive quarterly increase. The dividend is payable March 6, 2025, to shareholders of record as of February 24, 2025.
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Posted in auto news, economy, insurance, marketing, mobility company, news analysis, results, sales, shows and events, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, penske automotive group, Penske Transportation Solutions, Premier Truck Group, roger penske, X @KenAutoinformed
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Penske Automotive Group 2024 Q1 Earnings Drop
“Our retail automotive service and parts revenue grew 9% to a quarterly record of $746 million. During the quarter, we experienced a recovery across our used vehicle retail automotive operations with profitability improving sequentially by $428 per unit retailed. Further, I was pleased with our focus on controlling costs as selling, general, and administrative expenses as a percentage of gross profit improved by 30 basis points sequentially to 70.7%,” said Roger Penske Chair and CEO. Continue reading
Posted in auto news, financial results, manufacturing, mobility company, news analysis, results, transportation
Tagged auto industry commentary, autoinformed.com, automotive and commercial truck retailers, automotive blog, Automotive news and analysis, Ken Zino, NYSE: PAG, penske automotive group, roger penske
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Penske Automotive Completes Acquisition of Rybrook Group
“We are pleased to expand our brand footprint and increase our scale,” said Darren Edwards, CEO of the Company’s Sytner Group subsidiary in the U.K. “The Rybrook dealerships represent exceptional brands with a strong commitment to providing outstanding customer service. We look forward to continuing this legacy and welcome the Rybrook associates to our team.” Continue reading
Penske Automotive Group Buys 15 UK Dealerships
Penske Automotive Group, Inc. (NYSE: PAG)* today announced that it has agreed to acquire Rybrook Group Limited consisting of 15 premium dealerships in the United Kingdom, including four BMW dealerships, four MINI dealerships, four Volvo dealerships, two Land Rover dealerships and one Porsche dealership. Three of the BMW locations also retail BMW Motorrad motorcycles. The dealerships to be acquired represent estimated annualized revenues of $1 billion. Continue reading
Penske Automotive Group Buys BMW and Porsche Dealerships
Penske Automotive Group, Inc. (NYSE: PAG)* today announced that it has acquired BMW of Wilmington and Porsche Wilmington. The move increases operations in the luxury vehicle segment. PAG forecasts that it will add ~$140,000,000 in revenue annually. (AutoInformed: Penske Automotive … Continue reading
Penske Automotive Group Ups Dividend Again
“We are pleased to provide an increase in the cash dividend to our shareholders,” said Penske Automotive Group President, Robert Kurnick, Jr. “Continued strong cash flow, a healthy balance sheet, and the strength of our operations enables us to increase the dividend and reward our shareholders.” Continue reading
Penske Automotive Group Buys Transolutions Truck Centers
“We are thrilled to expand our North American presence with the Freightliner, Western Star and Thomas Built Bus brands. For more than 30 years, Transolutions Truck Centers has built a strong legacy of providing quality service to customers across Manitoba,” said Premier Truck Group President Ron Long. Continue reading
Hot, Fast Company: Penske Automotive Increases Dividend 6%
Penske Automotive Group, Inc. (NYSE: PAG) – an international transportation services company, a significant force among premier auto and commercial truck retailers, and a successful racing organization – today announced that its Board of Directors has increased the dividend by $0.03 per share. Continue reading
Penske Automotive Posts Record Q4, Full-Year 2021 Results
“During the fourth quarter, our diversified business and strong execution by our team produced record revenue, earnings before taxes, net income, and earnings per share, driven by strong retail automotive and commercial truck vehicle margins, a 26% increase in same-store retail automotive gross profit, and continued strong earnings from Penske Transportation Solutions which increased 62%,” CEO Roger Penske said. Continue reading
Penske Automotive Group Buys Another BMW Store
This is the Group’s 48th BMW dealership world-wide. The acquired dealership is expected to generate approximately $100 million in annualized revenue. Continue reading
Penske Automotive Group Buys More U.S. Dealerships
Penske Automotive Group (NYSE: PAG)* said today that it has acquired Longo Toyota and Longo Lexus, located in El Monte, California, Lexus of Stevens Creek, located in San Jose, California, and Longo Toyota of Prosper, located in Prosper, Texas, a suburb of Dallas, Texas.
“The acquisition of these premier dealerships represents a strategic addition to the Penske Automotive Group portfolio. The transaction strengthens our relationship with the Toyota and Lexus brands and expands the Company’s presence in southern California to the Los Angeles area, complements the Company’s existing presence in northern California and expands our operations in Texas to the fast-growing Dallas market. We look forward to continuing the outstanding legacy of these dealerships and are excited to welcome these new team members to Penske Automotive Group,” said Rich Shearing, North American Operations Officer. Continue reading →