Penske Automotive Group reports excellent quarterStaff writer ▼ | October 30, 2014
Penske Automotive Group announced today the highest third quarter and nine-months income from continuing operations and earnings per share in the history of the company.
Autos The highest third quarter
Total revenue increased 17.5% to $4.4 billion. The revenue increase was driven by a 10.2% increase in total retail unit sales, including a 5.3% increase on a same-store basis. Gross profit improved 15.3% to $658.7 million while operating income increased 17.1% to $128.0 million.
Commenting on the company's record results, Penske Automotive Group Chairman Roger S. Penske said, "Our business delivered another strong quarter, including an 11.2% increase in same-store retail revenue. Our results in the quarter were highlighted by another outstanding performance from our U.K. operations as our international diversification continues to complement our U.S. operations." ■