Penske Pleased with Strong 4Q Performance
BLOOMFIELD HILLS, Mich. — In an early look at the company's fourth-quarter results, Penske Automotive Group's chairman said he is encouraged by a "strong" performance during the period that was boosted by the company's brand mix, solid results in its United Kingdom operations and cost-cutting strategies.
Based on preliminary results, Penske predicts its income from continuing operations attributable to common shareholders will be somewhere between $0.20 per share and $0.23 per share.
"I'm pleased with the strong results achieved by our business in the fourth quarter," Roger Penske said.
"These results were driven by our brand mix, a strong performance from our UK operations and the continuing benefit from our cost-saving initiatives."
The company plans to release official fourth-quarter and full-year 2009 results on Feb. 19.
Stay tuned to AutoRemarketing.com for more details.