Penske Automotive Group reports news on its automotive retail, commercial truck dealership, service and parts, and finance and insurance operations. The company is a diversified international transportation services business with franchised automotive dealerships, commercial truck dealerships, used-vehicle stores, commercial vehicle distribution and power systems operations, and joint venture interests tied to Penske Transportation Solutions.
Recurring updates for PAG cover quarterly operating results, same-store vehicle sales, gross profit per unit, service and parts revenue, truck-market conditions, dealership acquisitions, credit-agreement funding, dividends, share repurchases, and balance-sheet and capital-allocation activity. Company announcements also include completed dealership additions in markets such as California, Texas, and Florida, including Toyota and Lexus franchises.
Penske Automotive Group (NYSE: PAG) will host its second quarter 2020 financial results conference call on Wednesday, July 29, 2020, at 2:00 p.m. EDT. Investors can join the call by dialing (866) 394-1455 in the U.S. or (516) 575-8644 internationally, using conference ID 3229936. A simultaneous webcast will be available, and a replay can be accessed until August 5, 2020. Penske operates automotive dealerships in the U.S., Canada, and Europe and distributes vehicles in Australia and New Zealand.
Penske Automotive Group (NYSE:PAG) announced an operational update for Q2 2020, projecting earnings per share of $0.52 to $0.57 based on strong performance at its U.S. and U.K. dealerships. All U.S. retail dealerships are open, with a notable recovery in vehicle sales in June. The company's liquidity position is solid, reporting nearly $1.2 billion in cash and credit availability, with plans to repay $300 million in senior subordinated notes. However, the suspension of the cash dividend announced in May will remain in effect.