Penske Auto beats by $0.02, reports revs in-line :
- Reports Q1 (Mar) earnings of $0.90 per share, $0.02 better than the Capital IQ Consensus of $0.88; revenues rose 7.6% year/year to $4.82 bln vs the $4.8 bln Capital IQ Consensus.
- During the first quarter of 2016, foreign exchange rates negatively impacted earnings per share attributable to common shareholders by $0.03.
- Total automotive retail units increased 9.9%; comps +2.5%.
- Excluding foreign exchange, total revenue increased 10.0%, including 4.7% on a same-store basis.
- "The resiliency of the U.S. and U.K. automotive markets and a solid performance from our truck dealership operations drove Penske Automotive to another quarter of record results."
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