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Penske: 1Q Earnings Snapshot

BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Thursday reported first-quarter profit of $100.2 million.

On a per-share basis, the Bloomfield Hills, Michigan-based company said it had net income of $1.19. Earnings, adjusted for one-time gains and costs, came to $1.25 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.

The auto dealership chain posted revenue of $5.56 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $5.73 billion.

Penske shares have increased 14 percent since the beginning of the year. The stock has climbed 3.5 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAG at https://www.zacks.com/ap/PAG