Penske Automotv Stock Price, News & Analysis

Penske Automotive Group (NYSE: PAG) announced a 7% increase in third-quarter revenue to $6.9 billion, with earnings per share rising 3% to $4.61. The company reported 9% growth in earnings before taxes from its Premier Truck Group, totaling $52.8 million, and a 15% increase in earnings from Penske Transportation Solutions amounting to $135.5 million. Year-to-date, Penske repurchased 6.4 million shares for $675.1 million. However, foreign currency exchange negatively impacted various financial metrics with total revenue declines attributed to exchange risks.

Penske Automotive Group (NYSE: PAG), a leading transportation services company, has announced a dividend increase of $0.04 per share, representing a 7.5% increase to $0.57 per share. This increase reflects the company's strong cash flow and diversified business model. The dividend is set to be paid on December 1, 2022, to shareholders recorded by November 10, 2022. President Robert Kurnick Jr. expressed confidence in the company's financial health and commitment to returning value to shareholders.

Penske Automotive Group (NYSE: PAG) will host a third quarter 2022 financial results conference call on October 26, 2022, at 2:00 p.m. ET. Investors can access the call by dialing (844) 200-6205 for domestic or (929) 526-1599 for international participants. The call follows the release of earnings that morning and will be available via webcast on the company's website. A replay of the call will be accessible until November 2, 2022. Penske is recognized as a leading retailer in the transportation sector across multiple countries.

Penske Automotive Group (NYSE: PAG) reported an 8% increase in earnings before taxes to $500 million for Q2 2022, with income from continuing operations rising 10% to $374 million and earnings per share up 17% to $4.93. Revenue decreased 1% to $6.9 billion, influenced by foreign currency exchange losses. The company repurchased 3.5 million shares for $362.7 million year-to-date and announced a $250 million increase in stock repurchase authority. The company remains focused on strong operational performance amidst supply chain challenges.

Penske Automotive Group (NYSE: PAG) has announced a 6% increase in its quarterly dividend, raising it by $0.03 to $0.53 per share. This decision reflects the company's strong cash flow and diversified business model. The dividend is set to be paid on September 1, 2022, to shareholders who are on record as of August 10, 2022. Penske operates globally, with significant operations in the U.S., UK, Germany, Italy, and Japan.

Penske Automotive Group, Inc. (NYSE: PAG) will release its second quarter 2022 financial results on July 27, 2022. An audio webcast and conference call to discuss the results are scheduled for 2:00 PM Eastern on the same day. Investors can access the earnings release and related presentation on the company’s website. PAG operates globally, retailing automotive and commercial trucks, and is a significant player in the transportation services sector.

Penske Automotive Group (NYSE: PAG) has announced a 6.4% increase in its dividend, raising it by $0.03 to $0.50 per share. This increase is attributed to the company's robust cash flow of $381 million from operations in Q1 2022. The new dividend will be payable on June 1, 2022. Additionally, the share repurchase authorization has been raised to $250 million, enabling further shareholder value enhancement following the repurchase of 1.9 million shares for $184.1 million earlier this year.