Penske Automotive 4Q Profit Jumps on Record Revenue

Dow Jones

Feb 13, 2025

By Dean Seal

Penske Automotive logged higher earnings in the fourth quarter as new vehicle sales helped lift its top line to a quarterly record.

The vehicle retailer posted a profit of $236.4 million, or $3.54 a share, compared with $190.7 million, or $2.84 a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were $3.45 a share. Analysts polled by FactSet had been looking for $3.30 a share.

Revenue climbed 6.2% to $7.72 billion, ahead of analyst projections for $7.6 billion, according to FactSet.

Chief Executive Roger Penske said revenue hit a quarterly record while gross profit on new and used cars remained strong.

The company delivered 11% more new units to dealerships during the quarter and 6% fewer used units.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

February 13, 2025 07:23 ET (12:23 GMT)

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Analysts polled by FactSet had been looking for $3.30 a share. \n\n\n  Revenue climbed 6.2% to $7.72 billion, ahead of analyst projections for $7.6 billion, according to FactSet. \n\n\n  Chief Executive Roger Penske said revenue hit a quarterly record while gross profit on new and used cars remained strong. \n\n\n  The company delivered 11% more new units to dealerships during the quarter and 6% fewer used units. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 13, 2025 07:23 ET (12:23 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}