Penske Automotive Group, Inc. (NYSE:PAG) shared its first-quarter financial results for 2026 on Wednesday morning. The international transportation services provider surpassed Wall Street expectations on both the top and bottom lines.

Penske Automotive Beats Earnings And Sales Estimates

The company reported quarterly adjusted earnings of $3.05 per share. This figure topped the analyst consensus estimate of $2.92. However, it represents a decrease from the $3.39 per share earned during the same period last year.

Quarterly sales reached $7.864 billion, comfortably beating the $7.708 billion analyst estimate. This marks a year-over-year increase from the $7.604 billion reported in the first quarter of 2025, according to Benzinga Pro data.

In the first quarter of 2026, the company delivered over 126,000 retail automotive and commercial truck units.

Service And Parts Hit Record Levels

Retail automotive service and parts revenue rose 4.6% to a record $864 million. Same-store retail automotive service and parts gross profit grew by 5.7%.

On the commercial side, same-store truck service and parts revenue increased by 4.1%.

The company ended the quarter on March 31 with $83.7 million in cash and cash equivalents.

Strategic Acquisitions And Capital Allocation

Penske completed acquisitions expected to add $450 million in estimated annualized revenue. These deals included two Lexus dealerships in the Orlando, Florida, metropolitan area.

The firm also returned value to shareholders. It increased its dividend by 1.4% and repurchased 170,393 shares of common stock during the quarter.

Chair Roger Penske On Market Trends

Chair Roger Penske highlighted the company’s “flexible approach to capital allocation” in the official release.

“I am encouraged with the trends we are seeing across the trucking market as the freight environment improves and Class 8 orders were strong in recent months,” Penske stated. He also expressed satisfaction with the “continued strength of our service and parts business.”

PAG Price Action: Penske Automotive Group shares were up 2.14% at $165.00 during premarket trading on Wednesday, according to Benzinga Pro data.

Photo by T. Schneider via Shutterstock