Penske Automotive Group Q1 EPS $3.21 Misses $3.35 Estimate, Sales $7.45B Miss $7.47B Estimate
Portfolio Pulse from Benzinga Newsdesk
Penske Automotive Group (NYSE:PAG) reported Q1 earnings of $3.21 per share, missing the $3.35 estimate, and sales of $7.45B, slightly below the $7.47B estimate. This represents a 25.52% decrease in earnings per share and a 1.49% increase in sales compared to the same period last year.
April 30, 2024 | 11:03 am
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Penske Automotive Group reported lower than expected Q1 earnings and sales, with a significant decrease in earnings per share compared to last year.
Missing both earnings and sales estimates, especially with a significant year-over-year decrease in earnings per share, is likely to negatively impact investor sentiment and the stock price in the short term.
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