Welcome to our dedicated page for Penske Automotv news (Ticker: PAG), a resource for investors and traders seeking the latest updates and insights on Penske Automotv stock.
Penske Automotive Group (NYSE: PAG) operates one of the world's premier transportation service networks, spanning automotive retail and commercial truck dealerships across three continents. This news hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and strategic initiatives.
Access real-time updates on earnings announcements, dealership acquisitions, and operational milestones. Our curated collection features press releases about PAG's luxury vehicle sales growth, commercial truck service expansions, and international partnership developments. Users will find analysis of quarterly results alongside coverage of leadership changes and industry recognition.
Key content includes updates on PAG's North American retail operations, European commercial vehicle expansions, and Asia-Pacific market strategies. Track developments in critical areas including electric vehicle infrastructure investments, premium brand partnerships, and digital retail innovations. All content is verified through primary sources to ensure regulatory compliance and factual accuracy.
Bookmark this page for streamlined access to Penske Automotive Group's latest business developments. Combine our news feed with SEC filings and earnings call transcripts for comprehensive investment research. Check back regularly for updates from this global leader in transportation services.
Penske Automotive Group (NYSE: PAG) reported record financial results for Q4 and full-year 2021. Q4 income from continuing operations soared 55.1% to $310.4 million, with earnings per share (EPS) up 59.4% to $3.97. Total revenue rose 8.3% to $6.3 billion, while gross profit increased 31.3%. Full-year income from continuing operations climbed 118.4% to $1.2 billion, with EPS at $14.88. The company reduced its debt significantly, returning over $530 million to shareholders via dividends and share buybacks. Growth is expected to continue with ambitious sales targets for CarShop.
Penske Automotive Group (NYSE: PAG) announced a 2.2% increase in its dividend, raising it by $0.01 to $0.47 per share. This adjustment, effective March 1, 2022 for shareholders of record on February 10, 2022, reflects the Board of Directors' confidence in the company’s strong cash flow and robust business model.
The company operates dealerships in the US, UK, Germany, Italy, and Japan, and is a major commercial truck retailer in North America.
Penske Automotive Group (NYSE: PAG) will host its fourth quarter and full-year 2021 financial results conference call on February 9, 2022, at 2:00 p.m. ET. The results will be released earlier that day. Interested parties can join the call via phone or listen to a live webcast on the company's website. A replay will be available until February 16, 2022.
Penske operates automotive and commercial truck dealerships in multiple countries and is a significant player in the North American truck retail market.
Penske Automotive Group (NYSE: PAG) has announced the grand opening of its 14th Honda dealership, Honda Leander, in Leander, Texas. The new facility spans over 9 acres, featuring 46,000 square feet of space and 27 service bays. This expansion adds to Penske's existing presence in the Austin/Round Rock market, where it operates eight other dealerships and two collision centers. President Rob Kurnick expressed satisfaction with this development, highlighting its significance for the company’s growth.
Penske Automotive Group (NYSE: PAG) has acquired Erhard BMW of Bloomfield, enhancing its BMW dealership network to 48 locations globally. Located in Bloomfield Hills, Michigan, this dealership has a strong 50-year history in the Detroit market and is the largest BMW dealership in Michigan. The acquisition is projected to generate approximately $100 million in annual revenue. Year-to-date, PAG has added about $1.2 billion in expected annualized revenue through various dealership acquisitions.
Penske Automotive Group (NYSE: PAG) has acquired McCoy Freightliner, enhancing its operations in Oregon. This acquisition is projected to generate around $200 million in annual revenue, further expanding its Premier Truck Group subsidiary. McCoy adds two full-service dealerships and a remarketing center, extending PAG's reach to the Pacific Northwest. Year-to-date, the company has secured approximately $1.1 billion in expected annual revenue through similar acquisitions, positioning PAG for continued growth in the commercial truck market.
Penske Automotive Group (NYSE:PAG) announced the opening of its eighth CarShop location in Scottsdale, Arizona, marking its 23rd location globally. This new 45,000 square foot facility offers a wide selection of certified vehicles, a no-haggle pricing model, and an indoor shopping experience supported by a service center staffed with certified technicians. The expansion has created 50 jobs in the community and enhances CarShop's legacy of customer service, aiming to provide a stress-free car-buying experience.
Penske Automotive Group (NYSE:PAG) reported impressive third-quarter results for 2021, showcasing a record income from continuing operations of $354.8 million, marking a 43.9% increase year-over-year. Earnings per share rose 45.3% to $4.46. Total revenue for the quarter reached $6.5 billion, an 8.8% increase from $6.0 billion. Key performance indicators included a 106.4% rise in retail commercial truck dealership earnings and a significant growth in Penske Transportation Solutions equity earnings by 83.4%. Despite ongoing supply chain challenges, the company's diversified operations have driven robust results.
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