Penske Automotive Q4 profit falls 36% on $40.7 million goodwill charge
Penske Automotive Group reported fourth quarter and full year 2023 results, with fourth quarter revenue up 4% to $7.3 billion but income attributable to common stockholders down 36% to $190.7 million. A non-cash goodwill impairment charge of $40.7 million weighed on profit, and the board approved a 10% increase in the quarterly dividend to $0.87 per share.
Key points
- Q4 revenue rose 4% to $7.3 billion; income attributable to common stockholders fell 36% to $190.7 million from $298.0 million.
- Q4 earnings per share were $2.84 versus $4.21; excluding the $0.61 per share impairment charge, adjusted EPS was $3.45.
- Full year 2023 revenue rose 6% to $29.5 billion; full year EPS was $15.50, down 16%.
- Quarterly dividend raised 10% to $0.87 per share, payable March 1, 2024 to holders of record as of February 15, 2024.
The filing
Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 07, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.