Penske Automotive Group, Inc. (PAG) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. Welcome to the Penske Automotive Group first quarter 2025 earnings conference call. Today's call is being recorded and will be available for replay approximately one hour after completion through May 7th, 2025 on the company's website under the investors tab at www.penskeautomotive.com. I will now introduce Tony Porton, the company's executive vice president of investor relations and corporate development. Sir, please go ahead. Thank you, Julianne. Good afternoon, everyone, and thank you for joining us today. A press release detailing Penske Automotive Group's first quarter 2025 financial results was issued this morning and is posted on our website, along with a presentation designed to assist you in understanding the company results. As always, I'm available by email or phone for any follow-up questions you may have. Joining me for today's call are Roger Penske, Chair and CEO, Shelley Halgrave, EVP and Chief Financial Officer, Rich Shearing, North American Operations, Randall Seymour, International Operations, and Tony Ficcione, Vice President and Corporate Controller. Our discussion today may include forward-looking statements about our operations, earnings potential, outlook, acquisitions, future events, growth plans, liquidity, and assessment of business conditions. We may also discuss certain non-GAAP financial measures as defined under FCC rules such as adjusted net earnings before taxes, adjusted net income, adjusted earnings per share, adjusted selling general and administrative expenses, earnings before interest, taxes, depreciation, and amortization, or EBITDA, and adjusted EBITDA and our leverage ratio. We've prominently presented the comparable gap measures and have reconciled the non-gap measures to their most directly. comparable gap mea...