Penske Automotive Group, Inc. (PAG) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to the Penske Automotive Group fourth quarter of 2020. Shelly Holgrave, EVP and Chief Financial Officer, Rich Shearing, North American Operations, Randall Seymour, International Operations, and Tony Piccioni, Vice President and Corporate Controller. During the fourth quarter, we acquired Penske Motor Group from a commonly controlled affiliate. As a result, the information contained in today's press release has been retrospectively recast to include the full quarterly and annual results of Penske Motor Group in both periods. which is required by GAAP under Common Control Accounting. We have provided schedules in today's press release to help you better understand the impact of the recast. Additionally, we may include forward-looking statements on today's call about our earnings potential, outlook, and other future events, and we may also discuss certain non-GAAP financial measures, such as EBITDA and adjusted EBITDA. Our future results may vary from our expectations because of risks and uncertainties outlined in the press release today. We have also prominently presented and reconciled any non-GAAP measures to the most directly comparable GAAP measures in this morning's press release and investor presentation, both of which are available on our website. Our future results may vary from our expectations because of risks and uncertainties outlined in the press release under forward-looking statements. I direct you to our SEC filings, including our Form 10-K and previously filed Form 10-Qs for additional discussion and factors that could cause future results to differ materially from expectations. I will now turn the call over to Roger Penske. Thank you, Tony. Good afternoon, everyone, and thank you for joining us today. Today, I'd like to begi...