To be sure, executives are keeping an eye on a slowing U.S. market for auto sales.
As a result, while not immune from a prolonged slowdown in auto sales, Penske is well positioned to keep profits churning higher even if the U.S. industry takes a step backward in 2017.
Gross profit per new vehicle held flat at roughly $3,000, equating to a gross margin of 7.7% of sales.
Operating profitability held steady at 3% of sales as a slight uptick in gross profit was offset by rising expenses.
Auto retailer Penske Automotive (NYSE:PAG) in late April posted first-quarter earnings results that showed solid sales gains.
as declared in
$5.38 Billion in Sales Expected for Penske Automotive Group, Inc. (PAG) This Quarter
Penske Automotive Group Company Profile Penske Automotive Group, Inc is an international transportation services company.
According to Zacks, analysts expect that Penske Automotive Group will report full-year sales of $5.38 billion for the current financial year, with estimates ranging from $20.77 billion to $21.28 billion.
Equities analysts predict that Penske Automotive Group, Inc. (NYSE:PAG) will post sales of $5.38 billion for the current quarter, Zacks Investment Research reports.
Get a free copy of the Zacks research report on Penske Automotive Group (PAG)For more information about research offerings from Zacks Investment Research, visit Zacks.com Receive News & Ratings for Penske Automotive Group Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Penske Automotive Group Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.
TRADEMARK VIOLATION WARNING: “$5.38 Billion in Sales Expected for Penske Automotive Group, Inc. (PAG) This Quarter” was originally reported by Sports Perspectives and is owned by of Sports Perspectives.
as declared in Penske Automotive Group Company Profile Penske Automotive Group, Inc is an international transportation services company.
Penske Automotive Group, Inc. (NYSE:PAG) – Research analysts at KeyCorp lowered their Q2 2017 earnings estimates for shares of Penske Automotive Group in a report released on Wednesday, Zacks Investment Research reports.
KeyCorp also issued estimates for Penske Automotive Group’s Q3 2017 earnings at $1.11 EPS and Q4 2017 earnings at $1.04 EPS.
Penske Automotive Group had a return on equity of 19.31% and a net margin of 1.70%.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, April 26th.
collected by :Sofia Iden
visit us automotive