Oct 28, 9:04 AM ET
Penske Automotive Group reported third-quarter 2026 revenue up 4.5% to $8.4 billion, while net income attributable to common stockholders fell 1.8% to $220.8 million and earnings per share fell to $3.36 from $3.41. The company will not hold an earnings call, and the results come while a take-private deal at $212.00 per share in cash is pending, with closing expected in the first quarter of 2027 subject to stockholder vote and regulatory approvals.
- Q3 revenue $8.4 billion, up 4.5% from $8.1 billion; net income $220.8 million vs. $224.8 million; EPS $3.36 vs. $3.41
- Q3 results include $6.3 million of Proposed Transaction costs, or $0.07 per share
- Pending take-private by Motown Acquisition Corp. at $212.00 per share in cash, expected to close in Q1 2027
- Quarterly dividend raised 1.4% to $1.46 per share, payable December 1, 2026; no further buybacks expected during the pendency of the deal
Read the filing on SEC.gov ↗
Oct 15, 6:59 AM ET
Penske Automotive Group entered into a merger agreement under which Penske Corporation and Mitsui & Co. would acquire the company through Motown Acquisition Corp. Holders other than the investor group would receive $212.00 per share in cash, valuing the company at an enterprise value of approximately $16.3 billion, and shares would no longer trade on the New York Stock Exchange after closing.
- Merger consideration is $212.00 per share in cash, an 8.84% premium to the October 14, 2026 closing price
- Enterprise value is approximately $16.3 billion; post-closing ownership would be about 64% Penske and 36% Mitsui
- Closing is expected in the first quarter of 2027, subject to regulatory approvals and stockholder votes, including a majority of votes cast by unaffiliated stockholders
- Third quarter 2026 results will be released October 28, 2026, with no earnings conference call
Read the filing on SEC.gov ↗
Jul 29, 12:04 PM ET
Penske Automotive Group reported second quarter 2026 revenue up 6% to $8.5 billion, but net income attributable to common stockholders fell to $260.4 million from $266.6 million, and earnings per share fell to $3.96 from $4.03. The filing also discloses an unsolicited, preliminary, non-binding take-private proposal from Penske Corporation and Mitsui & Co. for the shares they do not already own.
- Q2 revenue rose 6% to $8.5 billion; net income attributable to common stockholders was $260.4 million versus $266.6 million a year earlier.
- Q2 EPS was $3.96 versus $4.03; adjusted EPS, excluding the gain on sale of dealerships, was $3.62.
- Six-month EPS was $7.52 versus $7.89; the board approved a 1.4% quarterly dividend increase to $1.44 per share, payable September 1, 2026.
- Forward-looking statements cite an unsolicited take-private proposal from Penske Corporation and Mitsui & Co., which may not be pursued or completed.
Read the filing on SEC.gov ↗
Apr 29, 11:57 AM ET
Penske Automotive Group reported first quarter 2026 results, with revenue of $7.9 billion, down from $8.0 billion a year earlier. GAAP net income attributable to common stockholders fell 9.0% to $234.5 million, and adjusted net income decreased 16% to $200.6 million, which the company attributed to a difficult prior-year comparison and challenging market conditions. The company also completed acquisitions and repurchased shares during the quarter.
- Revenue $7.9 billion vs. $8.0 billion; GAAP EPS $3.56 vs. $3.86 a year earlier
- Adjusted net income $200.6 million (down 16%); adjusted EPS $3.05 (down 15%)
- Retail commercial truck revenue fell to $694.6 million from $823.7 million; the company cited weak freight demand in late 2025
- Acquired two Lexus dealerships in Orlando, expected to add $450 million in annualized revenue; repurchased 170,393 shares for $26.4 million
Read the filing on SEC.gov ↗
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