Penske: Q3 Earnings Snapshot

Associated Press Finance
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BLOOMFIELD HILLS, Mich. (AP) — BLOOMFIELD HILLS, Mich. (AP) — Penske Automotive Group Inc. (PAG) on Wednesday reported third-quarter earnings of $263.4 million.

The Bloomfield Hills, Michigan-based company said it had net income of $3.92 per share. Earnings, adjusted for non-recurring gains, came to $3.90 per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.04 per share.

The auto dealership chain posted revenue of $7.45 billion in the period, meeting Street forecasts.

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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

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