Penske Automotive reports Q3 results while take-private deal advances
Penske Automotive Group reported third-quarter 2026 revenue of $8.4 billion, up 5% year over year, with GAAP net income of $220.8 million and EPS of $3.36. The company is pursuing a cash buyout by Motown Acquisition Corp., owned by Penske Corporation and Mitsui, at $212.00 per share, implying an enterprise value of approximately $16.3 billion. The parties are targeting completion during the first quarter of 2027, subject to closing conditions, and the company will not hold an earnings call because of the deal.
Why it matters
If completed, the transaction would convert Penske Automotive into a privately held company and provide eligible shareholders with $212.00 in cash per share. The company’s public-market reporting would end after closing, and it has omitted an earnings call for the current quarter.
Key facts
- 1Third-quarter 2026 GAAP earnings included $6.3 million of transaction-related costs, or $0.07 per share after $4.6 million of tax effects. prnewswire.com
- 2For the nine months ended September 30, 2026, revenue was $24.8 billion and net income attributable to common stockholders was $715.7 million. prnewswire.com
- 3Penske Corporation is expected to hold approximately 64% of the private company after completion, with Mitsui owning 36%. prnewswire.com
- 4Penske Automotive had repurchased 265,104 shares for approximately $42.5 million during the first nine months of 2026. prnewswire.com
Open questions
- Completion remains conditional, and the materials do not guarantee that the buyout will close on schedule or at all.
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.