BLOOMFIELD HILLS, Mich. (AP) — BLOOMFIELD HILLS, Mich. (AP) — Penske Automotive Group Inc. (PAG) on Tuesday reported first-quarter earnings of $215.2 million.
On a per-share basis, the Bloomfield Hills, Michigan-based company said it had net income of $3.21. Earnings, adjusted for non-recurring gains, were $3.19 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.35 per share.
The auto dealership chain posted revenue of $7.45 billion in the period, which matched Street forecasts.
