PENSKE AUTOMOTIVE Reports Record Earnings for Q2 FY2023

🌥️Earnings Overview

For the second quarter of FY2023, PENSKE AUTOMOTIVE ($NYSE:PAG) saw a 8.1% rise in total revenue, amounting to USD 7468.5 million. Despite this increase, net income decreased by 19.6%, to a total of USD 300.8 million, compared to the same period of the previous fiscal year.

Stock Price

On Wednesday, PENSKE AUTOMOTIVE reported record earnings for Q2 FY2023 and their stock opened at $162.8 and closed at $163.0, down by 1.3% from the prior closing price of $165.0. This quarter’s financial results demonstrate the success of the company’s strategic initiatives to expand its presence in the automotive market. Overall, PENSKE AUTOMOTIVE has generated strong results in Q2 FY2023 and investors remain optimistic that its performance will continue to improve in the coming quarters. The company continues to pursue strategies to maximize its presence in the automotive industry which should help it reach even greater heights in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Penske Automotive. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Penske Automotive. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Penske Automotive. More…

Key Ratios Snapshot

Some of the financial key ratios for Penske Automotive are shown below. More…

Analysis

At GoodWhale, we have done an extensive analysis of the fundamentals of PENSKE AUTOMOTIVE. According to our Star Chart system, PENSKE AUTOMOTIVE has strengths in dividend, and medium results in asset, growth, and profitability. Based on our analysis, we classify PENSKE AUTOMOTIVE as a ‘rhino’ – a type of company that has achieved moderate revenue or earnings growth. Investors who are looking for stability and a steady return may find PENSKE AUTOMOTIVE to be an attractive option. Additionally, PENSKE AUTOMOTIVE has a high health score of 8/10 considering its cashflows and debt, indicating that it is capable of paying off debt and funding future operations. This makes it an appealing choice for investors who are looking for companies with good long-term prospects. More…

Peers

Penske Automotive Group Inc is an American automotive retailer. It is the second largest publicly traded company in the United States behind AutoNation and is headquartered in Bloomfield Hills, Michigan. The company also owns and operates several automotive websites and a truck leasing and logistics company. Penske Automotive Group operates over 300 retail automotive franchises, representing over 40 different brands. The company also operates in the United Kingdom, Australia, and Mexico. Sonic Automotive Inc is an American automotive retailer.Headquartered in Charlotte, North Carolina, the company operates over 100 dealerships in 15 states. Asbury Automotive Group Inc is an American automotive retailer. As of 2016, Asbury Automotive Group operated 86 dealerships, made up of 77 franchises across the United States. Group 1 Automotive Inc is an American automotive retailer with its headquarters in Houston, Texas. As of 2016, Group 1 Automotive operated 175 dealerships and 153 franchises in the United States and United Kingdom.

– Sonic Automotive Inc ($NYSE:SAH)

Sonic Automotive Inc is a company that operates in the automotive retailing industry. As of 2022, it had a market capitalization of 1.77 billion dollars and a return on equity of 32.11%. Sonic Automotive Inc is a company that operates in the automotive retailing industry. It is based in Charlotte, North Carolina, and was founded in 1997. The company operates dealerships in the United States, and its brands include Audi, BMW, Cadillac, Chevrolet, Jaguar, Land Rover, Lexus, Mercedes-Benz, Porsche, and Volvo.

– Asbury Automotive Group Inc ($NYSE:ABG)

Asbury Automotive Group Inc is one of the largest automotive retailers in the United States. The company operates over 100 dealerships across the country, selling and servicing a variety of makes and models of cars and light trucks. Asbury’s return on equity is impressive, coming in at over 31%. This means that the company is generating a significant amount of profit relative to the amount of equity that shareholders have invested. Asbury’s market cap is just over $3.7 billion, making it a large company but still small enough to be considered nimble in the ever-changing automotive industry.

– Group 1 Automotive Inc ($NYSE:GPI)

Group 1 Automotive Inc is a publicly traded automotive retailer that offers new and used vehicles, parts and services, and financing options through its dealerships. As of 2022, the company had a market capitalization of 2.6 billion dollars and a return on equity of 33.54%. Group 1 Automotive Inc operates in the United States, the United Kingdom, Brazil, and Turkey. The company was founded in 1995 and is headquartered in Houston, Texas.

Summary

PENSKE AUTOMOTIVE had a strong second quarter, with total revenue increasing 8.1% year-over-year to USD 7468.5 million.

However, net income decreased 19.6% to USD 300.8 million compared to the same period in the previous year. Investors should keep an eye on PENSKE AUTOMOTIVE’s financial performance, and pay attention to how the company is leveraging its revenue growth to generate profitability. It is important to note that PENSKE AUTOMOTIVE has a strong balance sheet and robust cash reserves, which should provide stability in the current economic climate.

Additionally, investors should look for potential growth opportunities and identify areas for cost savings. Overall, PENSKE AUTOMOTIVE is an attractive investment opportunity with potential for long-term growth and returns.