Every material Form 8-K Penske Automotive filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Penske Automotive Group entered into an Eleventh Amendment to its U.S. credit agreement on December 2, 2024, principally increasing the facility borrowing capacity from $1.2 billion to $1.5 billion. The amended agreement extends to September 30, 2027, and includes covenants restricting dividends, asset sales, and additional debt, with substantially all U.S. assets pledged to lenders.
Revolving loan capacity rises from $1.2 billion to $1.5 billion, plus up to $75.0 million in letters of credit
Up to $400.0 million may be borrowed for foreign acquisitions; agreement expires September 30, 2027
Revolving loans bear adjusted SOFR plus 1.50%; uncollateralized borrowings above the borrowing base bear adjusted SOFR plus 2.00%
Lenders include Mercedes-Benz Financial Services USA, Toyota Motor Credit Corporation and Daimler Truck Financial Services USA
Penske Automotive Group reported third quarter 2024 revenue up 2% to $7.6 billion, but net income attributable to common stockholders fell 14.2% to $226.1 million and earnings per share fell to $3.39 from $3.92. The board also approved a quarterly dividend of $1.19 per share, an 11% increase, and the company agreed to acquire a third Porsche dealership in Melbourne, Australia.
Revenue rose 2% to $7.6 billion; retail automotive service and parts revenue hit a record $778.0 million, up 14%
Net income attributable to common stockholders was $226.1 million versus $263.4 million a year earlier
Quarterly dividend raised to $1.19 per share, payable December 3, 2024, to holders of record on November 15, 2024
October 2024 agreement to buy a Porsche dealership expected to add $130 million in estimated annualized revenue
Penske Automotive Group reported second quarter 2024 revenue up 3% from a year earlier to a record $7.7 billion. Net income attributable to common stockholders fell 19.8% to $241.2 million, and earnings per share fell to $3.61 from $4.41, so profit declined even as sales grew. The board also approved a quarterly dividend of $1.07 per share, an 11% increase.
Revenue rose 3% to $7.7 billion, a quarterly record, versus $7.5 billion in Q2 2023.
Net income attributable to common stockholders was $241.2 million versus $300.8 million; EPS was $3.61 versus $4.41.
Quarterly dividend raised 11% to $1.07 per share, payable September 4, 2024, to holders of record as of August 15, 2024.
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.
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
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.
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.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Penske Automotive filing is on SEC EDGAR ↗. 8-K briefs of other companies →