Penske Q3 revenue tops estimates on used vehicle demand

Penske Automotive

28/10/2026 11:06

Overview
Automotive and truck retailer's Q3 revenue rose 5%, beating analyst expectations
Q3 EPS declined slightly from prior year
Company reiterates previously announced take-private deal at $212 per share, expected to close Q1 2027

Outlook
Take-private transaction expected to close in Q1 2027, subject to closing conditions
Company does not expect further share repurchases while take-private deal is pending
Company increased quarterly dividend to $1.46 per share, annualized to $5.84 per share

Result Drivers
COMMERCIAL TRUCK SALES - Higher new and used commercial truck deliveries boosted segment revenue and profit
USED VEHICLE DEMAND - Increased used vehicle deliveries contributed to modest retail automotive revenue growth
CURRENCY IMPACT - Foreign exchange had a minor negative effect on revenue and a small positive effect on net income and EPS

Company press release: ID:nPn79rwR8a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$8.42 bln
$8.17 bln (7 Analysts)
Q3 EPS
 
$3.36
 
Q3 Net Income
 
$221.20 mln
 
Q3 Gross Profit
 
$1.32 bln
 
Q3 Operating Income
 
$303.10 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto vehicles, parts & service retailers peer group is "buy."
Wall Street's median 12-month price target for Penske Automotive Group Inc is $210.00, about 1% below its October 27 closing price of $212.15
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads
Oct 27 - Rush Enterprises Q3 revenue beats analyst estimates on higher truck deliveries
Oct 27 - Logistics firm Landstar System's Q3 revenue rises 25%, beats estimates
Oct 27 - Polaris Q3 sales beat estimates on powersports, marine strength, raises adjusted EPS outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)