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![PENSKE AUTOMOTIVE GROUP, INC. [PAG] reports annual net loss of $1.1 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FPAG.png&w=1200&q=75)
PENSKE AUTOMOTIVE GROUP, INC. [PAG] has reported a net loss of $1.1 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $29.5 billion
Based in BLOOMFIELD HILLS, Michigan, PENSKE AUTOMOTIVE GROUP, INC. operates in the RETAIL sector.
In the annual reports for the periods ended December 31, 2023, December 31, 2022, and December 31, 2021, Penske Automotive Group reported the following financial results:
Total revenues for the year ended December 31, 2023, amounted to $29,527.4 million, compared to $27,814.8 million in the previous year and $25,554.7 million in the year before that.
Cost of sales for the same period totaled $24,593.6 million in 2023, $22,976.0 million in 2022, and $21,113.9 million in 2021.
The net income for the period ended December 31, 2023, was $1,058.6 million, slightly lower than the $1,386.2 million reported in 2022 but higher than the $1,192.7 million in 2021.
The basic earnings per share attributable to Penske Automotive Group common stockholders for continuing operations were $15.50 in 2023, $18.55 in 2022, and $14.88 in 2021. The diluted earnings per share for the same periods were also comparable at $15.50, $18.55, and $14.89, respectively.
When broken down by segment, the Retail Automotive Dealership segment reported total revenues of $25,209.1 million in 2023, $23,694.7 million in 2022, and $22,513.3 million in 2021. The Retail Commercial Truck Dealership segment recorded revenues of $3,684.3 million, $3,541.3 million, and $2,465.7 million for the same periods. The Commercial Vehicle Distribution and Other segment had revenues of $634.0 million, $578.8 million, and $575.7 million.
Overall, despite fluctuations in net income and revenues across segments, Penske Automotive Group maintained a steady performance in the past three years.
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