Penske Automotive : First Quarter 2026 Earnings Call Presentation

Published: 2026-04-29 15:24:14 ET PAG

Published on 04/29/2026 at 03:24 pm EDT

Ǫ1 2026

FINANCIAL RESULTS

April 2026

WHY PAG?

*For the twelve months ended December 31, 2025

Automotive Franchised Locations

Commercial Retail Truck Locations

Used Vehicle Centers

Commercial Vehicle, Power System & Parts Distribution Locations

New & Used Units Delivered

(Includes Commercial Trucks)

Employees Worldwide

Continents Countries

Vehicles Serviced Annually

($ in Millions, except Per Share Amount)

Q1 '26

Q1 '25

CHG

Revenue

New/Used Retail Automotive

$6,967

$6,919

+1%

Retail Commercial Truck

$695

$824

(16%)

Commercial Vehicle Distribution & Other

$202

$211

(4%)

Total Revenue

$7,864

$7,954

(1%)

Income Before Taxes

$324

$351

(8%)

Adjusted Income Before Taxes*

$276

$323

(15%)

Income Attr. to Common Stockholders

$235

$258

(9%)

Adjusted Inc. Attributable to Common Stockholders*

$201

$240

(16%)

Income Per Share

$3.56

$3.86

(8%)

Adjusted Income Per Share*

$3.05

$3.59

(15%)

Q1 2026 SUMMARY

*Refer to Non-GAAP Reconciliation Section

Q1 REVENUE & EBT

(For the three months ended March 31, 2026)

$7.9B

REVENUE

$324M

EBT

KEY TAKEAWAYS

GROSSES

Retail Automotive new and used grosses up sequentially from Q4 2025

New up $94/unit Used up $306/unit

Variable gross profit of

$5,092/unit, flat with Q4 2025

Commercial Truck used vehicle gross/unit up $4,624 sequentially from Q4 2025

FIXED OPERATIONS

Retail Automotive same-store service &

parts revenue growth of 4.6%; related gross

profit up 5.7%

Retail Automotive same-store service & parts gross margin up 60 bps to 59.0%

Commercial Truck same-store service & parts revenue up 4.1%

CAPITAL ALLOCATION

Acquired 2 Lexus dealerships in the Orlando Metropolitan area of Central Florida with estimated annualized revenue of

$450 million

Repurchased 170,000 shares of common stock

Increased dividend by

$0.02 to $1.40/share

CAPITAL ALLOCATION

(USD in Millions)

(As of December 31 for each applicable year, unless indicated otherwise)

$786

2023

2024

2025

Q1 2026

$670*

$344

$274

$386 $378

$325

$382

$385

$189

$182

$215

$93

$63

$78

$26

PAG Stock Dividends

Capital Expenditures

PAG Share Repurchases

Acquisitions

* Including $100 million for property and $15 million for the repayment of floorplan notes

RETAIL AUTOMOTIVE

RETAIL BRAND MIX

Premium

Volume Non-U.S.

U.S.

Used Only

24%

(For the three months ended March 31, 2026) (% of Total Worldwide Automotive Dealership Revenue)

18%

10% 9% 8% 8%

6% 5% 4%

Others Used Only

3% 2% 2% 1%

RETAIL AUTOMOTIVE

$1.1B

GROSS PROFIT

$7.0B

REVENUE

Q1 '26

(For the three months ended March 31, 2026)

RETAIL AUTOMOTIVE KEY METRICS

VOLUME

Q1 '26

Q1 '25

Chg

New Units (Excluding Agency)

49,098

54,555

(10%)

Used Units

59,552

59,138

+1%

Total

108,650

113,693

(4%)

Agency Units

13,011

10,686

+22%

Total Units

121,661

124,379

(2%)

VOLUME

Q1 '26

Q1 '25

Chg

New Units (Excluding Agency)

50,036

55,524

(10%)

Used Units

60,126

60,487

(1%)

Total

110,162

116,011

(5%)

Agency Units

13,011

10,686

+22%

Total Units

123,173

126,697

(3%)

REVENUE ($ in Millions)

Q1 '26

Q1 '25

Chg

New Vehicle

$3,019

$3,203

(6%)

Used Vehicle

$2,408

$2,226

+8%

Finance & Insurance

$200

$202

(1%)

Service & Parts

$853

$815

+5%

Fleet & Wholesale

$388

$370

+5%

Total

$6,868

$6,816

+1%

REVENUE ($ in Millions)

Q1 '26

Q1 '25

Chg

New Vehicle

$3,081

$3,248

(5%)

Used Vehicle

$2,429

$2,264

+7%

Finance & Insurance

$202

$205

(2%)

Service & Parts

$864

$826

+5%

Fleet & Wholesale

$391

$376

+4%

Total

$6,967

$6,919

+1%

RETAIL AUTOMOTIVE GROSS PROFIT

($ in Millions)

RETAIL AUTOMOTIVE SERVICE & PARTS

Record service & parts revenue and gross profit

Q1 same-store revenue +4.6%; gross profit +5.7%; gross margin +60 bps

Q1 '26 Revenue Change* S&P Revenue* S&P Gross* S&P Margin*

+5.9%

Customer Pay

$815

$853

$503

59.0%

$476

58.4%

Collision

Warranty

*Same-store results as of March 31, 2026

1Q' 25 1Q' 26

RETAIL

COMMERCIAL TRUCKS

PREMIER TRUCK OVERVIEW

One of the largest dealership groups for Daimler Truck North America

Retail new and used Freightliner and Western Star trucks

3,583 units sold in Q1 2026; revenue of

$695 million

Return on sales of 5.2%

35 Full sales and service facilities

5 Stand-alone service & parts facilities

2 Stand-alone parts facilities

11 Collision centers (3 stand alone)

$128M

GROSS PROFIT

$695M

REVENUE

PROFIT

RETAIL COMMERCIAL TRUCKS REVENUE AND

STREAMS

(For the three months ended March 31, 2026)

PREMIER TRUCK GROUP PERFORMANCE - Q1

($ in Millions)

4,540

4,714

3,583

$792

$824

$695

$51

$45

$36

Q1 '24 Q1 '25 Q1 '26

RETAIL COMMERCIAL TRUCK KEY METRICS

Q1 '26

Q1 '25

Chg

VOLUME METRICS

New Units

2,786

3,739

(26%)

Used Units

797

975

(18%)

Total Units

3,583

4,714

(24%)

GROSS PER UNIT

New

$8,314

$8,960

(7%)

Used

$6,889

$7,451

(8%)

F&I

$968

$950

+2%

Q1 '26

Q1 '25

Chg

VOLUME METRICS

New Units

2,786

3,739

(26%)

Used Units

797

975

(18%)

Total Units

3,583

4,714

(24%)

GROSS PER UNIT

New

$8,314

$8,960

(7%)

Used

$6,889

$7,451

(8%)

F&I

$968

$950

+2%

PENSKE AUSTRALIA/ NEW ZEALAND

AUSTRALIA/NEW ZEALAND MARKET SEGMENTS

Disclaimer

Penske Automotive Group Inc. published this content on April 29, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 29, 2026 at 19:23 UTC.