Morningstar - PENSKE AUTOMOTIVE GROUP INC (PAG) Penske Has Solid 3Q Despite WLTP Headwinds in Europe

Report

Morningstar

David Whiston

EUR 100.00 For Business Accounts Only

Penske Has Solid 3Q Despite WLTP Headwinds in Europe

Penske Automotive posted record third-quarter income from continuing operations and record adjusted diluted EPS from continuing operations but we saw nothing to merit changing our long-term assumptions or expectations for vehicle demand. We are leaving our fair value estimate in place. The company rarely has special items but income from continuing operations, excluding a $11.6 million tax gain for the final reconciliation of the tax benefit for the 2017 U.S. tax law change, grew 25.7% year over...

26/10/2018 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

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Penske Has Solid 3Q Despite WLTP Headwinds in Europe

Penske Automotive Group Inc: 1 director

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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