Morningstar - PENSKE AUTOMOTIVE GROUP INC (PAG) Penske Automotive Group Reports Record 1Q Results With Significant Help from Exchange

Report

Morningstar

David Whiston, CFA, CPA, CFE

Penske Automotive Group Reports Record 1Q Results With Significant Help from Exchange

We are leaving our fair value estimate on Penske Automotive Group unchanged as first-quarter results gave us no reason to alter our investment thesis. We think the company posted good results in a sluggish U.S. market with diluted EPS from continuing operations up 30% year over year to $1.26, beating consensus of $1.13. Total revenue increased by 13.1%, partly because of a weaker dollar against the pound, and beat consensus. Revenue grew by 7.3% excluding currency. Exchange contributed $0.06 to ...

25/04/2018 13 EN

Underlying

PENSKE AUTOMOTIVE GROUP INC

Penske Automotive Group is a transportation services company that operates automotive and commercial truck dealerships and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services. The company has four segments: Retail Automotive, consisting of its retail automotive dealership operations; Retail Commercial Truck, consisting of its retail commercial truck dealership operations in the United States and Canada; Other, consisting of its commercial vehicle and power systems distribution operations and other non-automotive consolidated operations; and Non-Automotive Investments, consisting of its equity method investments in non-automotive operations.

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US70959W1036 New York Stock Exchange United States

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

David Whiston, CFA, CPA, CFE

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Penske Automotive Group Reports Record 1Q Results With Significant Help from Exchange

Penske Automotive Group Inc: 2 directors

Moody's Ratings announces completion of a periodic review of ratings of Penske Automotive Group, Inc.

Vermilion Compass: Weekly Equity Strategy

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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