Penske Ends a Tough Year on a Positive Note
Investors had modest expectations heading into Penske's (NYSE: PAG) fourth-quarter earnings report given the struggles the vehicle retailer had noted in recent quarters in major markets like the U.K. That challenge was compounded by the fact that new car sales were being pressured in the core U.S. segment.
Yet, while the company did post a rare annual adjusted earnings decline this week, the actual results were surprisingly strong and point to another record year ahead for 2020.
Let's take a closer look at its fourth-quarter earnings.
Source Fool.com
