BLOOMFIELD HILLS, Mich. (AP) _ Penske Automotive Group Inc. (PAG) on Wednesday reported fourth-quarter earnings of $311.3 million.
On a per-share basis, the Bloomfield Hills, Michigan-based company said it had net income of $3.99. Earnings, adjusted for one-time gains and costs, were $4.10 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.67 per share.
The auto dealership chain posted revenue of $6.3 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $6.23 billion.
For the year, the company reported profit of $1.19 billion, or $14.89 per share. Revenue was reported as $25.55 billion.
