PENSKE AUTOMOTIVE GROUP INC
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
PAG$213.44+0.3%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In millions, except share and per share amounts) | |||
| Revenue: | |||
| Retail automotive dealership | $26,156.2 | $25,209.1 | $23,694.7 |
| Retail commercial truck dealership | 3,521.1 | 3,684.3 | 3,541.3 |
| Commercial vehicle distribution and other | 777.9 | 634.0 | 578.8 |
| Total revenues | 30,455.2 | 29,527.4 | 27,814.8 |
| Cost of sales: | |||
| Retail automotive dealership | 21,905.6 | 21,032.9 | 19,568.3 |
| Retail commercial truck dealership | 2,936.6 | 3,091.9 | 2,986.2 |
| Commercial vehicle distribution and other | 599.7 | 468.8 | 421.5 |
| Total cost of sales | 25,441.9 | 24,593.6 | 22,976.0 |
| Gross profit | 5,013.3 | 4,933.8 | 4,838.8 |
| Selling, general, and administrative expenses | 3,538.5 | 3,400.6 | 3,223.7 |
| Goodwill impairment charges | — | 40.7 | — |
| Depreciation | 158.0 | 141.0 | 127.3 |
| Operating income | 1,316.8 | 1,351.5 | 1,487.8 |
| Floor plan interest expense | (189.8) | (133.1) | (52.4) |
| Other interest expense | (87.8) | (92.6) | (70.4) |
| Equity in earnings of affiliates | 200.7 | 293.7 | 494.2 |
| Income before income taxes | 1,239.9 | 1,419.5 | 1,859.2 |
| Income taxes | (316.5) | (360.9) | (473.0) |
| Net income | 923.4 | 1,058.6 | 1,386.2 |
| Less: Income attributable to non-controlling interests | 4.5 | 5.4 | 6.2 |
| Net income attributable to Penske Automotive Group common stockholders | $918.9 | $1,053.2 | $1,380.0 |
| Basic earnings per share attributable to Penske Automotive Group common stockholders: | |||
| Net income attributable to Penske Automotive Group common stockholders | $13.74 | $15.50 | $18.55 |
| Shares used in determining basic earnings per share | 66,882,731 | 67,963,956 | 74,394,799 |
| Diluted earnings per share attributable to Penske Automotive Group common stockholders: | |||
| Net income attributable to Penske Automotive Group common stockholders | $13.74 | $15.50 | $18.55 |
| Shares used in determining diluted earnings per share | 66,882,731 | 67,963,956 | 74,394,799 |
| Amounts attributable to Penske Automotive Group common stockholders: | |||
| Net income | $923.4 | $1,058.6 | $1,386.2 |
| Less: Income attributable to non-controlling interests | 4.5 | 5.4 | 6.2 |
| Net income attributable to Penske Automotive Group common stockholders | $918.9 | $1,053.2 | $1,380.0 |
| Cash dividends per share | $4.09 | $2.78 | $2.07 |
F - 6
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