Penske Automotive (PAG) reported $7.27 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 3.7%. EPS of $3.45 for the same period compares to $4.21 a year ago.
The reported revenue represents a surprise of +1.19% over the Zacks Consensus Estimate of $7.19 billion. With the consensus EPS estimate being $3.66, the EPS surprise was -5.74%.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.
Here is how Penske performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Retail Automotive Units – New Retail: 51,786 compared to the 52,310 average estimate based on three analysts.
- Retail Automotive Units – Used Retail: 57,490 compared to the 60,987 average estimate based on three analysts.
- Retail Automotive Units – Total: 109,276 versus 113,297 estimated by three analysts on average.
- Retail Automotive Gross Profit Per Vehicle Retailed – New Vehicles: $5,531 compared to the $5,525.85 average estimate based on three analysts.
- Revenue- Retail Automotive: $6.18 billion versus the four-analyst average estimate of $6.06 billion. The reported number represents a year-over-year change of +4.5%.
- Revenue- Commercial Vehicle Distribution and Other: $189.40 million versus the four-analyst average estimate of $147.84 million. The reported number represents a year-over-year change of +34.7%.
- Revenue- Retail Automotive- Finance and Insurance, Net: $207.60 million compared to the $209.74 million average estimate based on four analysts. The reported number represents a change of +3.1% year over year.
- Revenue- Retail Automotive- Service and Parts: $680.90 million versus the four-analyst average estimate of $674.93 million. The reported number represents a year-over-year change of +7.5%.
- Revenue- Retail Automotive- Fleet and Wholesale: $330.20 million versus the four-analyst average estimate of $351.78 million. The reported number represents a year-over-year change of +3.4%.
- Revenue- Retail Commercial Truck: $904.80 million compared to the $948.72 million average estimate based on four analysts. The reported number represents a change of -5.8% year over year.
- Revenue- Retail Automotive- New Vehicles: $2.99 billion compared to the $2.82 billion average estimate based on four analysts. The reported number represents a change of +8.2% year over year.
- Revenue- Retail Automotive- Used Vehicles: $1.97 billion versus $2 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change.
View all Key Company Metrics for Penske here>>>
Shares of Penske have returned -0.9% over the past month versus the Zacks S&P 500 composite’s +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s credited with a “watershed medical breakthrough” and is developing a bustling pipeline of other projects that could make a world of difference for patients suffering from diseases involving the liver, lungs, and blood. This is a timely investment that you can catch while it emerges from its bear market lows.
It could rival or surpass other recent Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Penske Automotive Group, Inc. (PAG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.