Penske Automotive Group, Inc. (NYSE:PAG) Q4 2022 Results Conference Call February 8, 2023 2:00 PM ET
Company Participants
Anthony Pordon - EVP, IR & Corporate Development
Roger Penske - Chair, CEO
Michelle Hulgrave - EVP, CFO
Conference Call Participants
Daniel Imbro - Stephens
John Murphy - Bank of America
David Whiston - Morningstar
Rajat Gupta - JP Morgan
Operator
Good afternoon. Welcome to the Penske Automotive Group Fourth Quarter 2022 Earnings Conference Call. Today's call is being recorded and will be available for replay approximately 1 hour after completion through February 15, 2022, on the company's website under the Investors tab at www.penskeautomotive.com.
I will now introduce Anthony Pordon, the company's Executive Vice President of Investor Relations and Corporate Development. Sir, please go ahead.
Anthony Pordon
Thank you, Allan. Good afternoon, everyone, and thank you for joining us today. A press release detailing Penske Automotive Group's record fourth quarter and record full year 2022 financial results was issued this morning and is posted on our website, along with the presentation designed to assist you in understanding the company's results. As always, I'm available by e-mail or by phone for any follow-up questions you may have.
Joining me for today's call are Roger Penske, our Chair and Chief Executive Officer; Shelley Hulgrave, EVP and Chief Financial Officer; and Tony Facione, Vice President and Corporate Controller.
Our discussion today may include forward-looking statements about our operations, earnings potential, outlook, future events, growth plans, liquidity and and the assessment of business conditions. We may also discuss certain non-GAAP financial measures, such as earnings before interest, taxes, depreciation and amortization or EBITDA, our leverage ratio and free cash flow. We have prominently presented the comparable GAAP measures and have reconciled the non-GAAP measures in this morning's press release and investor presentation, which are available on our website to the most directly comparable GAAP measures.
Our actual results may vary because of risks and uncertainties outlined in today's press release, which may cause the actual results to differ materially from expectations. I direct you to our SEC filings, including our Form 10-K and previously filed Form 10-Q, for additional discussion and factors that could cause results to differ materially.
At this time, I'll now turn the call over to Roger.
Roger Penske
All right. Thank you, Tony. Good afternoon, everyone, and thank you for joining us today. 2022 was a record year for PAG, and was driven by our diversification, certainly, our premium brand mix and our capital allocation. During 2022, we increased our revenue by 9% to almost $28 billion. We increased our earnings before taxes 16% to $1.9 billion. We increased our income from continuing operations by 16% to $1.4 billion, and we grew our earnings per share by 25% to $18.55.