Penske Automotive Group, Inc. reported quarterly results for the third quarter of 2026, noting a 5% increase in revenue to $8.4 billion compared to the same period in 2025. The company reported earnings before taxes of $302.0 million and net income attributable to common stockholders of $220.8 million, resulting in earnings per share of $3.36. These figures include $6.3 million in costs related to a proposed transaction.
For the nine months ended September 30, 2026, revenue totaled $24.8 billion, while net income was $715.7 million, with earnings per share of $10.89. The company noted that foreign currency exchange positively impacted net income and earnings per share for both the quarter and the nine-month period.
Separately, Penske Automotive announced a proposed transaction to be taken private. On October 15, 2026, the company entered into a merger agreement with Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui & Co., Ltd. Under the terms of the agreement, holders of Penske Automotive common stock, other than the investor group, will receive $212.00 per share in cash. This offer values the company at an enterprise value of approximately $16.3 billion. If consummated, the company will become privately held, with approximately 64% of ownership held by Penske and 36% held by Mitsui.
The proposed transaction is expected to close in the first quarter of 2027, subject to the satisfaction of closing conditions. The company stated that it will not host an earnings conference call in connection with these results due to the pending transaction.
In other corporate developments, the Board of Directors approved a quarterly dividend increase of 1.4%, raising the dividend to $1.46 per share. The dividend is payable December 1, 2026, to shareholders of record as of November 13, 2026. As of September 30, 2026, the company had approximately $1.6 billion in liquidity and a leverage ratio of 1.6x.
