Penske's 4Q Sees Gross Profit Growth From all Three Areas of the Company
We are not changing our fair value estimate for Penske Automotive Group after incorporating the firm’s record fourth-quarter results into our model. As always, we will reassess all modeling assumptions while rolling the model for the 10-K filing. Excluding a $243.4 million tax benefit for remeasuring deferred tax liabilities, adjusted EPS from continuing operations increased 11% year over year to $1.01, edging out consensus by a penny. Same-store automotive revenue increased 2.3%.Total used uni...
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