Penske Automotive Group, Inc. (NYSE:PAG) Q2 2022 Earnings Conference Call July 27, 2022 2:00 PM ET
Company Participants
Anthony Pordon - Executive Vice President, Investor Relations & Corporate Development
Roger Penske - Chair & Chief Executive Officer
Shelley Hulgrave - Executive Vice President & Chief Financial Officer
Tony Facione - Vice President & Corporate Controller
Conference Call Participants
John Murphy - Bank of America
Rajat Gupta - JPMorgan
Daniel Imbro - Stephens Inc.
David Whiston - Morningstar
Glenn Chin - Seaport Global
Mike Ward - Benchmark
Operator
Good afternoon. Welcome to the Penske Automotive Group Second Quarter 2022 Earnings Conference Call. Today's call is being recorded and will be available for replay approximately one hour after completion through August 3, 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 Britney. Good afternoon, everyone, and thank you for joining us today. A press release detailing Penske Automotive Group's record second quarter 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 am available by e-mail or phone for any follow-up questions you may have.
Joining me for today's call are Roger Penske, our Chair and CEO; Shelley Hulgrave, EVP Chief Financial Officer; and Tony Facione, our Vice President and Corporate Controller.
Our discussion today may include forward-looking statements about operations, earnings potential outlook, future events, growth plans, liquidity and assessment of business conditions. We may also discuss certain non-GAAP financial measures such as earnings before interest taxes, depreciation, amortization or EBITDA; and our leverage ratio. 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-Qs for additional discussion and factors that could cause results to differ materially.
I will now turn the call over to Roger Penske.
Roger Penske
Thank you Tony. Good afternoon, everyone, and thank you for joining us today. I'm pleased to report that our diversified business delivered an all-time record quarter results, second quarter for earnings before taxes, net income and earnings per share compared to the second quarter last year. While revenue declined 1% to $6.9 billion, foreign exchange negatively impacted revenue by $245 billion. Excluding FX, our revenue increased 2%.