We have WSUS 3.0 SP2 installed and I was wondering if it is possible to schedule and e-mail reports in pdf format or perhaps place them on a shared folder?
What is your host OS?
Small Business Server has an option similar to this, built-in (not sure if it does PDF). It gives a report for every segment of SBS. Beyond that, the WSUS mmc has an entry for this under under options -> Email Notifications.
For PDF format... it'd be a bit harder. I doubt you'd like the answer, but you may be able to create a powershell script with the required data and then print to a PDF creator utility via cmdline. Links below that may be helpful:
As far as I know, Microsoft Baseline Security Analyzer 2.2 (MBSA) still does not support emailing of reports, but it is very command-line friendly.
If you're feeling scripty, you can use MBSA and PowerShell to generate your reports. Here is a sample script on the TechNet gallery that you could probably modify pretty easily to email the report to you.