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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), a global leader in automotive retail, announced a 2.2% increase in its quarterly dividend to $0.46 per share, reflecting the Board's confidence in the company’s diversified business model and robust cash flow. The dividend will be paid on December 1, 2021, to shareholders of record by November 10, 2021. Penske continues to solidify its position in the market with operations across multiple countries and a significant stake in Penske Transportation Solutions.
Penske Automotive Group (NYSE:PAG) announced its third quarter 2021 financial results conference call on October 27, 2021, at 2:00 p.m. EDT. Participants can dial in using (866) 996-5381 for the U.S. or (602) 585-9891 internationally, with conference ID 4572964. The call follows the earnings release earlier that morning and will be live-streamed on their website. A replay will be available until November 3, 2021. Penske Automotive is a leading international transportation services company, operating dealerships primarily in the U.S., U.K., Germany, and Italy.
Penske Automotive Group (NYSE:PAG) reported second quarter 2021 results showing a remarkable 652.9% increase in income from continuing operations to $338.8 million and earnings per share of $4.20, up 650.0%. Total revenue surged 91.4% to $7.0 billion. Excluding certain charges, adjusted income rose 700.4% to $360.2 million. The company benefited from strong automotive sales, with same-store sales for new vehicles rising 91.5% and used vehicles by 74.7%. Notably, Penske's strategic acquisitions and enhanced profitability metrics display a robust operational outlook.
Penske Automotive Group (NYSE:PAG) and Cox Automotive have launched a revolutionary fully automated technology platform for online retail sales of used vehicles. This exclusive platform, powered by Cox’s patent-pending AI technology, Essential Commerce™, offers consumers a seamless, fully digital vehicle purchasing experience. Features include personalized financing options, trade-in capabilities, and digital signatures. The platform is now operational in select markets through CarShop SuperCenters, reflecting the growing demand for online vehicle purchases amid changing consumer preferences.
Penske Automotive Group (NYSE: PAG) announced a 2.3% increase in its quarterly dividend, raising it to $0.45 per share. This dividend will be payable on September 1, 2021, to shareholders of record as of August 10, 2021. The annualized dividend now stands at $1.80 per share, yielding over 2% for shareholders. Penske reported record results for the six months ending June 30, 2021, and highlighted strong cash flow as a foundation for this increase.
Penske Automotive Group (NYSE: PAG) reported preliminary financial results for Q2 2021, projecting earnings before taxes exceeding $450 million and income from continuing operations over $325 million, both up more than 600% year-over-year. Earnings per share are anticipated to surpass $4.00. Compared to Q2 2019, these figures represent increases over 175%. The results also reflect a $13 million net charge due to refinancing senior subordinated notes. The company credits its record performance to strong market volume, vehicle margins, and cost controls despite ongoing vehicle supply disruptions.
Penske Automotive Group, Inc. (NYSE: PAG) announced its entry into the Charlotte, North Carolina market with the acquisition of Mercedes-Benz of South Charlotte. This acquisition is projected to generate $150 million in annualized revenues. The dealership, spanning over 70,000 square feet with 50 service bays, enhances Penske's position in a rapidly growing area. This acquisition contributes to the company's goal of achieving $1 billion in earnings before taxes in 2023, adding over $700 million in expected annualized revenue this year.
Penske Automotive Group, Inc. (NYSE: PAG) announced the pricing of $500 million of 3.75% Senior Subordinated Notes due 2029. This offering is set to close on June 15, 2021, subject to standard conditions. The proceeds will be used to redeem $500 million in 5.5% Senior Subordinated Notes due 2026 on June 24, 2021, and to repay U.S. credit obligations and other debts. The offering is accompanied by a prospectus filed with the SEC. The release includes forward-looking statements subject to risks and uncertainties.
Penske Automotive Group (NYSE: PAG), a diversified transportation services provider, announced a proposed offering of $500 million in fixed rate Senior Subordinated Notes due 2029. The proceeds will be utilized to redeem existing $500 million 5.5% Senior Subordinated Notes due 2026, repay amounts under the U.S. credit agreement, and for general corporate purposes. The offering is contingent on market conditions and customary closing requirements, with no solicitation of offers in jurisdictions where prohibited.