Strategic Partnership Expected to Elevate Customer Experience

Acquisition Represents Third Porsche Location in Melbourne and 25th Worldwide

BLOOMFIELD HILLS, Mich., Dec. 2, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and nine countries, has completed the acquisition of Porsche Centre Melbourne, located in Melbourne, Australia, from Porsche Retail Group Australia Pty Ltd.  Porsche Centre Melbourne represents the Company's 25th Porsche dealership worldwide.  The acquisition is expected to add $130 million in estimated annualized revenue, bringing the estimated annualized revenue for the Company's three Porsche Dealerships in Melbourne to $260 million. 

Quarterly Revenue Increases 2% to $7.6 Billion

Record Quarterly Retail Automotive Service and Parts Revenue of $778.0 Million, up 14%

Same-Store Retail Automotive Service and Parts Revenue up 7% and Related Gross Profit up 6%

Earnings Before Taxes of $304.4 Million and Earnings Per Share of $3.39

BLOOMFIELD HILLS, Mich., Oct. 29, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced quarterly results for the third quarter of 2024. For the quarter, revenue increased 2% from the third quarter of 2023 to $7.6 billion. Net income attributable to common stockholders was $226.1 million compared to $263.4 million in the prior year period, and related earnings per share was $3.39 compared to $3.92 for the same period in 2023. Foreign currency exchange positively impacted revenue by $69.0 million, net income attributable to common stockholders by $1.7 million, and earnings per share by $0.03.

Acquisition Represents Third Porsche Location in Melbourne and 25th Worldwide

BLOOMFIELD HILLS, Mich., Oct. 23, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and nine countries, has signed an agreement to acquire Porsche Centre Melbourne, located in Melbourne, Australia, from Porsche Retail Group Australia Pty Ltd.  Upon completion of the acquisition, Porsche Centre Melbourne will expand the Company's partnership with Porsche in Melbourne to deliver an exceptional level of customer experience.  The acquisition is expected to add $130 million in estimated annualized revenue, bringing the estimated annualized revenue for the three Porsche Dealerships in Melbourne to $260 million.  The acquisition is subject to customary conditions and is expected to close by the end of this year.  

BLOOMFIELD HILLS, Mich., Oct. 15, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers today announced it will release financial results for the three months and nine months ended September 30, 2024, on the morning of Tuesday, October 29, 2024.  A conference call to discuss these results will be held later that day as follows:

WHEN:

Tuesday, October 29, 2024

TIME:

1:00 PM Eastern

PHONE:

United States, please dial (877) 692-8955 (access code 5321074)

International, please dial (234) 720-6979 (access code 5321074)

Note:  Callers should dial-in approximately 10-15 minutes before the call begins

WEBCAST:

To access the live webcast of the conference call, please visit https://investors.penskeautomotive.com/events-and-presentations and select the webcast link 

Note: Listeners should access the webcast 10-15 minutes before the call begins

Represents 15th Consecutive Quarterly Increase

Increase Highlights Strength of Balance Sheet and Low Leverage 

BLOOMFIELD HILLS, Mich., July 24, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that its Board of Directors has approved a quarterly dividend of $1.07 per share, representing an 11% or $0.11 per share increase.  This represents the third increase to the Company's dividend in 2024 and the 15th consecutive quarterly increase.

BLOOMFIELD HILLS, Mich., July 18, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers today announced it will release financial results for the three months and six months ended June 30, 2024, on the morning of Wednesday, July 31, 2024.  A conference call to discuss these results will be held later that day as follows:

WHEN:

Wednesday, July 31, 2024

TIME:

2:00 p.m. Eastern

PHONE:

United States, please dial (877) 692-8955 (access code 8247256)

International, please dial (234) 720-6979   (access code 8247256)

Note:  Callers should dial-in approximately 10-15 minutes before the call begins

WEBCAST:

To access the live webcast of the conference call, please visit https://investors.penskeautomotive.com/events-and-presentations and select the webcast link 

Note: Listeners should access the webcast 10-15 minutes before the call begins

Expands North America Retail Operations Presence in the Midwest

Expected to Add $550 Million in Estimated Annualized Revenue

BLOOMFIELD HILLS, Mich., July 16, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and nine countries, announced today the acquisition of Bill Brown Ford in southeastern Michigan.  Located in Livonia, the dealership operations serve Michigan's largest county by population.  The acquisition is expected to add $550 million in estimated annualized revenue.

Expands North American Operations to New Market Areas in Wisconsin and Minnesota

Expected to Add $200 Million in Estimated Annualized Revenue

BLOOMFIELD HILLS, Mich., June 10, 2024 /PRNewswire/ -- Premier Truck Group, an international medium-duty and heavy-duty commercial truck dealership group and a Penske Automotive Group, Inc. company (NYSE:PAG), announced today the acquisition of River States Truck and Trailer, Inc. (RSTT) headquartered in La Crosse, WI.  The acquisition is expected to add $200 million of estimated annualized revenue for Premier Truck Group.

BLOOMFIELD HILLS, Mich., June 4, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and nine countries, has completed its acquisition of Porsche Centre Brighton and Porsche Centre Doncaster located in Melbourne, Australia, expanding its portfolio to 24 Porsche dealerships worldwide.  The acquisition is expected to add $130 million in estimated annualized revenue. 

BLOOMFIELD HILLS, Mich., May 9, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that its Board of Directors has approved a quarterly dividend of $0.96 per share.  "Based on the strength of our balance sheet and continued strong cash flow, we are pleased to provide our shareholders with a 10% increase in the cash dividend," said Penske Automotive Group President, Robert Kurnick, Jr.  The dividend is payable June 4, 2024, to shareholders of record as of May 20, 2024.