Penske Automotive Group Q1 profit falls 27.9% as revenue rises 1.5%
Penske Automotive Group reported first quarter 2024 results on April 30, 2024. Revenue rose 1.5% to $7.4 billion, but net income attributable to common stockholders fell 27.9% to $215.2 million, and earnings per share dropped to $3.21 from $4.31, partly due to higher interest costs and lower equity earnings from Penske Transportation Solutions.
Key points
- Revenue increased 1.5% to $7.4 billion; net income attributable to common stockholders was $215.2 million versus $298.3 million a year earlier
- Earnings per share were $3.21 compared with $4.31 in the first quarter of 2023
- Higher interest costs of $17.4 million and equity earnings from PTS of $32.5 million versus $80.8 million weighed on profit
- The company repurchased shares for approximately $32.9 million and had $182.6 million remaining under its repurchase authority as of March 31, 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 April 30, 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.