February 06, 2013 at 13:12 PM EST
Pent-Up Car, Truck Demand Drives Penske Q4 Earnings
Surging U.S. auto sales lifted dealership Penske Automotive Group (PAG) over fourth-quarter views. The company, with 344 new and used car dealerships, posted earnings of 57 cents per share, up 21% from a year ago. Revenue climbed 18% to $3.37 billion. Analysts surveyed by Thomson Reuters were expecting EPS of 53 cents, on revenue of $3.31 billion. A wave of new-car purchasing in the U.S. -- fueled by low rates and pent-up demand -- more than offset
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