Penske Automotive Group, Inc. · NYSE:PAG
Penske Automotive — Q2 2026 Earnings Presentation
30 slides from Penske Automotive's earnings presentation, Jul 29, 2026
Slide 1: Q2 2026 Financial Results
Automotive Q2 2026 FINANCIAL RESULTS
Slide 2: Forward-Looking Statement Disclaimer
FORWARD-LOOKING STATEMENT DISCLAIMER Statements in this presentation may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s financial performance, expectations, acquisition activity, future plans, and future revenues. Actual results may
Slide 3: Why PAG?
WHY 362 DIVERSIFIED 257,500 New & Used Units Transportation PAG? Automotive Franchised Locations Delivered Services Company (Includes Commercial Trucks) *For the six months ended June 30, 2026 45 RESILIENT 28,600+ Retail Commercial Truck Locations Business Model Employees Worldwide 13 RECURRING 4 8
Slide 4: 2026 Summary
2026 SUMMARY ($ in Millions, except Per Share Amount) Q2 ‘26 Q2 ‘25 CHG 6M ‘26 6M ‘25 CHG Revenue Retail Automotive $7,301 $6,888 +6% $14,268 $13,806 +3% Retail Commercial Truck $928 $944 -2% $1,622 $1,767 -8% Commercial Vehicle Distribution & Other $284 $201 +41% $486 $413 +18% Total Revenue $8,513
Slide 5: Revenue & EBT
REVENUE & EBT (For the six months ended June 30, 2026) 12% 4% 15% $16.4B $678M 28% REVENUE 12% EBT 60% 69% NORTH AMERICA U.K. OTHER INT'L RETAIL AUTO RETAIL COMM TRUCKS NON-AUTO INVESTMENTS OTHER 5
Slide 6: Key Takeaways
KEY TAKEAWAYS FIXED CAPITAL GROSSES OPERATIONS ALLOCATION Q2 2026 Retail Acquired 2 Lexus Q2 2026 Retail Automotive new and dealerships in Q1 2026 in used grosses consistent Automotive same-store the Orlando with Q1 2026 service & parts revenue Metropolitan area of growth of 2.0%; related Central Fl
Slide 7: Capital Allocation
CAPITAL ALLOCATION (USD in Millions) (As of December 31 for each applicable year, unless indicated otherwise) $786 $670* 2023 2024 2025 6M 2026 $386 $378 $382 $385 $344 $325 $274 $189 $215 $186 $182 $135 $78 $43 PAG Stock Capital PAG Share Acquisitions Dividends Expenditures Repurchases * Including
Slide 8: Retail Automotive
RETAIL AUTOMOTIVE
Slide 9: Retail Brand Mix
RETAIL BRAND MIX 71% 23% 2% 4% Premium Volume Non-U.S. U.S. Used Only (For the six months ended June 30, 2026) (% of Total Worldwide Automotive Dealership Revenue) 24% 19% 10% 9% 8% 7% 6% 5% 4% 3% 2% 2% 1% Others Used Only 9
Slide 10: Retail Automotive
RETAIL AUTOMOTIVE (For the six months ended June 30, 2026) DIVERSIFIED REVENUE STREAM 1% 3% 6% New 18% 25% 12% Used $2.3 Bil $14.3 Bil 45% REVENUE S&P GROSS F&I PROFIT 11% F&Wh 34% 45% 10
Slide 11: Retail Automotive Gross Profit
RETAIL AUTOMOTIVE GROSS PROFIT PER UNIT – NEW PER UNIT - USED $5,337 $2,298 $4,642 $4,689 $4,783 $4,782 $2,083 $2,076 $2,095 $1,770 $3,066 $1,250 // // Q4 '19 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q4 '19 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 PER UNIT – F&I SERVICE & PARTS ($ in Millions) $501 $502 $488 $5
Slide 12: Retail Automotive Key Metrics – Q2
RETAIL AUTOMOTIVE KEY METRICS – Q2 SAME-STORE TOTAL VOLUME Q2 ’26 Q2 ’25 Chg VOLUME Q2 ’26 Q2 ’25 Chg New Units 53,774 51,847 +4% New Units 55,136 52,985 +4% New Agency Units 11,195 10,079 +11% New Agency Units 11,195 10,079 +11% Total New Units 64,969 61,926 +5% Total New Units 66,331 63,064 +5% Us
Slide 13: Retail Automotive Key Metrics – 6M
RETAIL AUTOMOTIVE KEY METRICS – 6M SAME-STORE TOTAL VOLUME 6M ’26 6M ’25 Chg VOLUME 6M ’26 6M ’25 Chg New Units 102,305 105,889 (3%) New Units 105,172 108,509 (3%) New Agency Units 24,206 20,765 +17% New Agency Units 24,206 20,765 +17% Total New Units 126,511 126,654 --- Total New Units 129,378 129,
Slide 14: Retail Automotive Service & Parts
RETAIL AUTOMOTIVE SERVICE & PARTS 6M 2026 same-store revenue +3.3%; gross profit +4.5%; gross margin +60 bps 6M YOY Gross Change* S&P Revenue* S&P Gross* S&P Margin* +5.6% $1,640 $1,693 $1,003 59.2% Customer $960 Pay 58.6% +2.6% +4.1% Warranty Collision 6M '25 6M '26 6M '25 6M '26 6M '25 6M '26 *S
Slide 15: Retail Commercial Trucks
RETAIL COMMERCIAL TRUCKS
Slide 16: Premier Truck Overview
One of the largest dealership groups for Daimler Truck North America PREMIER TRUCK OVERVIEW Retail new and used Freightliner and Western Star trucks 9,014 units sold 6M YTD; revenue of $1.6 billion Return on sales of 5.1% 35 Full sales and service facilities 5 Stand-alone service & parts facilities
Slide 17: Retail Commercial Trucks Revenue and Profit Streams
RETAIL COMMERCIAL TRUCKS REVENUE AND PROFIT STREAMS (For the six months ended June 30, 2026) SERVICE & PARTS REPRESENTS 69% OF GROSS PROFIT 1% 1% 3% 2% New Used $271M 20% 29% $1,622M S&P GROSS REVENUE PROFIT 61% F&I 69% 6% F&Wh 8% 17
Slide 18: Premier Truck Group Performance
PREMIER TRUCK GROUP PERFORMANCE (For the three month and six month periods specified below) Q2 UNITS Q2 REVENUE Q2 Earnings Before Taxes ($ in Millions) ($ in Millions) 5,339 5,431 $944 $52 $54 5,248 $892 $928 $47 Q2 '24 Q2 '25 Q2 '26 Q2 '24 Q2 '25 Q2 '26 Q2 '24 Q2 '25 Q2 '26 6M UNITS 6M REVENUE 6M
Slide 19: Retail Commercial Truck Key Metrics
RETAIL COMMERCIAL TRUCK KEY METRICS Q2 2026 6M 2026 Q2 ’26 Q2 ’25 Chg 6M ’26 6M ’25 Chg VOLUME METRICS VOLUME METRICS New Units 4,276 4,638 -8% New Units 7,062 8,377 -16% Used Units 1,155 701 +65% Used Units 1,952 1,676 +17% Total Units 5,431 5,339 +2% Total Units 9,014 10,053 -10% GROSS PER UNIT GR
Slide 20: Penske Australia/New Zealand
PENSKE AUSTRALIA/ NEW ZEALAND
Slide 21: Australia/New Zealand Market Segments
AUSTRALIA/NEW ZEALAND MARKET SEGMENTS 21
Slide 22: Australia/New Zealand Overview
AUSTRALIA/ NEW ZEALAND OVERVIEW COMMERCIAL VEHICLE/POWER SYSTEMS Exclusive importer and distributor of certain medium, and heavy-duty trucks, buses and refuse collection vehicles – Western Star, MAN, Dennis Eagle Distributor of diesel/gas engines and power systems – MTU, Detroit Diesel and Bergen en
Slide 23: Penske Transportation Solutions
PENSKE TRANSPORTATION SOLUTIONS
Slide 24: Penske Transportation Solutions (PTS) Overview
PENSKE TRANSPORTATION SOLUTIONS (PTS) OVERVIEW $5.1B 379,296 40,100 3,279 6M ’26 YTD Revenue Tractors, trucks & Employees Locations across trailers worldwide 4 countries PAG recorded equity income from PTS investment of $57.4 million for the three months ended June 30, 2026 and $98.5 million for the
Slide 25: Non-GAAP Reconciliations
NON-GAAP RECONCILIATIONS
Slide 26: EBITDA and Adjusted EBITDA Reconciliation
Three Months Ended The following table June 30, 2026 vs. 2025 reconciles reported (Amounts in Millions) 2026 2025 Change % Change net income to Net Income 261.2 267.5 (6.3) earnings before Add: Depreciation $ 45.4 $ 43.1 $ 2.3 (2.4)% 5.3 % interest, taxes, Other Interest Expense 33.1 21.6 11.5 53.2
Slide 27: Leverage Ratio Reconciliation
The following table reconciles the leverage ratio as of June 30, 2026, and Six Six Trailing Twelve Twelve December 31, 2025: Months Ended Months Ended Months Ended Months Ended (Amounts in Millions) December 31, 2025 June 30, 2026 June 30, 2026 December 31, 2025 Net Income $ 412.0 $ 496.1 $ 908.1 $
Slide 28: Key Adjusted Financial Line Items
The following tables present key adjusted financial line items excluding the gain on the sale of dealerships and certain disposals and other charges. Management believes this presentation is useful to investors in evaluating the Company’s operating performance and comparability across periods. 28 *F
Slide 29: Impact of Gain on Sale of Dealership and Common Control
Three Months Ended June 30, 2025 Our results include the Disposals and Adjusted Excluding impact of the gain on the Gain on Sale Other Common Common sale of a dealership and ($ Amounts in millions, except per share data) As Reported of Dealership Charges Adjusted Control Control certain disposals an
Slide 30: Alttonotive
Alttonotive
Penske Automotive Group — Q2 2026 Earnings Presentation on 6ix