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Penske: 4Q Earnings Snapshot

BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Thursday reported fourth-quarter earnings of $98.1 million.

The Bloomfield Hills, Michigan-based company said it had profit of $1.16 per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to $1.11 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.

The auto dealership chain posted revenue of $5.44 billion in the period.

For the year, the company reported profit of $471 million, or $5.53 per share. Revenue was reported as $22.79 billion.

Penske shares have risen 18 percent since the beginning of the year. The stock has fallen 2.5 percent in the last 12 months.

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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