Penske: 4Q Earnings Snapshot
BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Wednesday reported fourth-quarter earnings of $200.2 million.
The Bloomfield Hills, Michigan-based company said it had net income of $2.49 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.11 per share.
The auto dealership chain posted revenue of $5.81 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $5.72 billion.
For the year, the company reported profit of $543.6 million, or $6.74 per share. Revenue was reported as $20.44 billion.
Penske shares have climbed 10% since the beginning of the year. The stock has climbed 30% in the last 12 months.