Penske Automotive Group, Inc. (PAG) Q3 2023 Earnings Call Transcript

Penske Automotive Group, Inc. (NYSE:PAG) Q3 2023 Earnings Conference Call October 25, 2023 2:00 PM ET

Company Participants

Anthony Pordon – Executive Vice President, Investor Relations and Corporate Development

Roger Penske – Chair and CEO

Shelley Hulgrave – Executive Vice President and CFO

Rich Shearing – North American Interoperations

Randall Seymore – International Operations

Tony Facione – Vice President and Corporate Controller

Conference Call Participants

John Murphy – Bank of America

Michael Ward – Benchmark

Daniel Imbro – Stephens

Rajat Gupta – JPMorgan

John Healy – North Coast Research

David Whiston – Morningstar


Ladies and gentlemen, good afternoon. Welcome to the Penske Automotive Third Quarter 2023 Earnings Conference Call. Today’s call is being recorded and will be available for replay approximately 1 hour after completion through November 2, 2023, on the company’s website under the Investors tab at [Operator Instructions]

I’d now like to introduce Anthony Pordon, the company’s Executive Vice President of Investor Relations and Corporate Development. Sir, please go ahead.

Anthony Pordon

Thank you, Leah. Good afternoon, everyone, and thank you for joining us today. A press release detailing Penske Automotive Group’s third quarter 2023 financial results was issued this morning and is posted on our website, along with the presentation designed to assist you in understanding the company’s results. As always, I am available by e-mail or phone for any follow-up questions you may have.

Joining me for today’s call is Roger Penske, our Chair and CEO; Shelley Hulgrave, EVP and Chief Financial Officer; Rich Shearing of North American Interoperations; Randall Seymore, International Operations; and Tony Facione, our Vice President and Corporate Controller.

Our discussion today may include forward-looking statements about our operations, earnings potential, outlook, future events, growth plans, liquidity and assessment of business conditions. We may also discuss certain non-GAAP financial measures, such as earnings before interest, taxes, depreciation and amortization or

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