Penske Automotive Group PAG reported fourth-quarter 2024 adjusted earnings of $3.54 per share, which increased 2.6% year over year and beat the Zacks Consensus Estimate of $3.37. Better-than-expected results from the Retail Automotive segment contributed to the outperformance.

“New and used automotive gross profit per unit retailed remained strong, including a $74 per unit sequential increase in new vehicle gross profit per unit retailed when compared to the third quarter of 2024, and same-store service and parts revenue and gross profit increased 7% and 9%, respectively,” said Chair and CEO Roger Penske.