Penske: 4Q Earnings Snapshot
BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Thursday reported fourth-quarter earnings of $98.1 million.
The Bloomfield Hills, Michigan-based company said it had profit of $1.16 per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to $1.11 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.
The auto dealership chain posted revenue of $5.44 billion in the period.
For the year, the company reported profit of $471 million, or $5.53 per share. Revenue was reported as $22.79 billion.
Penske shares have risen 18 percent since the beginning of the year. The stock has fallen 2.5 percent 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