Penske Automotive Group, Inc. (PAG) reported first-quarter 2026 adjusted earnings of $3.05 per share, a 15% decrease year-over-year, but surpassing the Zacks Consensus Estimate of $2.91 by 4.8%. Total revenues fell 1.1% to $7.86 billion, missing expectations by 1.1%. Retail Automotive service and parts revenues increased by 4.6% to $863.9 million despite overall weaker revenue performance.
In the retail automotive segment, total new units delivered were 50,036, reflecting a 9.9% drop year-over-year, while used units slightly declined to 60,126. Used-vehicle revenues rose 7.3% to $2.43 billion amidst declining new-vehicle volumes, where revenues dropped to $3.08 billion. In the Retail Commercial Truck segment, new and used unit deliveries decreased by 24% to 3,583, with segment revenues down 15.7% to $694.6 million.
PAG’s total equity in affiliate earnings grew 22.5% to $40.8 million and included a $60.4 million gain from a dealership sale. During the quarter, the company paid $92.6 million in dividends and repurchased shares worth $26.4 million, while long-term debt rose to $2.21 billion.
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