Penske Automotive reports Q3 EPS $3.39, consensus $3.41

Reports Q3 revenue $7.59B, consensus $7.67B. Commenting on the company’s financial results, chair and CEO Roger Penske said, “I am pleased with our financial performance during the third quarter, despite the impact from the stop sale of certain vehicles and the residual impact from the CDK Cyber Security incident. New and used retail automotive gross profit per unit remained strong, retail automotive service and parts performed at record levels, the retail commercial truck business performed well, selling, general, and administrative expenses remained well controlled, and the equity income from Penske Transportation Solutions increased 14% sequentially despite continued freight challenges.”