Compared to Estimates, Penske (PAG) Q2 Earnings: A Look at Key Metrics
Penske Automotive (PAG) reported $7.47 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.1%. EPS of $4.41 for the same period compares to $4.93 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $7.06 billion, representing a surprise of +5.84%. The company delivered an EPS surprise of +8.09%, with the consensus EPS estimate being $4.08.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Penske performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Retail Automotive Units - New Retail: 49562 compared to the 46968.13 average estimate based on three analysts.
Retail Automotive Units - Used Retail: 65386 compared to the 66217.93 average estimate based on three analysts.
Retail Automotive Units - Total: 114948 versus 113186.1 estimated by three analysts on average.
Retail Automotive Revenue Per Vehicle Retailed - New Vehicles: $56,557 versus the three-analyst average estimate of $53,326.96.
Revenue- Retail Automotive- New Vehicles: $2.82 billion compared to the $2.59 billion average estimate based on four analysts.
Revenue- Retail Automotive- Fleet and Wholesale: $356.30 million compared to the $383.98 million average estimate based on four analysts.
Revenue- Retail Automotive- Service and Parts: $685.20 million compared to the $643.11 million average estimate based on four analysts.
Revenue- Retail Automotive- Finance and Insurance, Net: $214.10 million versus $220.92 million estimated by four analysts on average.
Revenue- Retail Automotive- Used Vehicles: $2.33 billion compared to the $2.21 billion average estimate based on four analysts.
Revenue- Retail Automotive: $6.41 billion compared to the $6.04 billion average estimate based on four analysts. The reported number represents a change of +6.8% year over year.
Revenue- Retail Commercial Truck: $919.20 million versus $854.01 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +19.6% change.
Revenue- Commercial Vehicle Distribution and Other: $143.30 million versus the four-analyst average estimate of $144.24 million. The reported number represents a year-over-year change of +1.7%.
View all Key Company Metrics for Penske here>>>
Shares of Penske have returned +1.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Penske Automotive Group, Inc. (PAG) : Free Stock Analysis Report
