Penske Automotive Group's stock soared 5.06% during intraday trading on Wednesday, reflecting strong investor sentiment following the company's latest financial updates.

The transportation services company reported fourth-quarter revenue of $7.77 billion, beating analyst estimates of $7.60 billion. Despite a year-over-year decline in revenue and adjusted earnings, the better-than-expected top-line performance provided a positive surprise to the market.

Adding to the bullish momentum, Penske's board raised the quarterly dividend by 1.4% to $1.40 per share, marking the 21st consecutive quarter of dividend increases. The company also highlighted strength in its service and parts business, with same-store revenue in that segment increasing 5% during the quarter. Looking ahead, Penske expects its pending acquisition of Lexus dealerships to add approximately $450 million in annualized revenue once completed in the first quarter of 2026.