Penske Automotive Group Inc. said its fourth-quarter normalized net income came to 71 cents per share, compared with the S&P Capital IQ consensus estimate of 80 cents per share.

EPS increased year over year from 69 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $63.7 million, a gain from $62.4 million in the year-earlier period.

The normalized profit margin declined to 1.3% from 1.4% in the year-earlier period.

Total revenue rose 11.2% on an annual basis to $4.92 billion from $4.43 billion, and total operating expenses grew 11.3% on an annual basis to $4.80 billion from $4.31 billion.

Reported net income declined 9.0% from the prior-year period to $72.3 million, or 80 cents per share, from $79.4 million, or 88 cents per share.

For the year, the company's normalized net income totaled $3.38 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.65.

EPS rose 11.9% from $3.02 in the prior year.

Normalized net income was $303.1 million, a rise of 11.1% from $272.8 million in the prior year.

Full-year total revenue rose 11.9% from the prior-year period to $19.28 billion from $17.23 billion, and total operating expenses grew 11.9% year over year to $18.72 billion from $16.73 billion.

The company said reported net income grew 9.2% on an annual basis to $329.4 million, or $3.67 per share, in the full year, from $301.8 million, or $3.34 per share.