Sonic Automotive results miss expectations as EchoPark brand weighs [Seeking Alpha]
Sonic Automotive, Inc. (SAH)
Last sonic automotive, inc. earnings: 4/29 07:00 am
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US:NYSE Investor Relations:
sonicautomotive.com/investor-relations.htm
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Source: Seeking Alpha
While the car dealership achieved record annual revenue of $14.4B, Q4 sales of $3.6B were down 6% year-over-year and missed the consensus estimate by $10M. The company's profit fell to $1.63 per share from $2.61 a year ago, missing estimates by $0.19. Same store sales were up 2% while gross profit was down 6%. Same store retail new vehicle unit sales volume was up 10%, but gross profit per unit was down 30%. For used vehicles, same store retail unit sales were down 7% and profit was down 1%. Among the company's inventory of vehicles, sales of new vehicles increased 8% to $1.6B, fleet new vehicle sales were down 28% to $12.8M and used vehicle sales were down 9% to $1.22B. Revenue from parts, service and collision repair was up 5% in Q4 to $431.9M Sonic Automotive's ( SAH ) EchoPark brand sold 4% less in used vehicles and 17% less in wholesale vehicles, bringing total revenue to $556.6M in Q4, 6% less than the same quarter last year. As a result, the segment reported a loss of $1
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SAH
News
- Sonic Automotive, Inc. (NYSE: SAH) had its price target raised by analysts at JPMorgan Chase & Co. from $48.00 to $53.00. They now have an "underweight" rating on the stock.MarketBeat
- Sonic Automotive First Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Sonic Automotive, Inc. (NYSE:SAH) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Sonic (SAH) Q1 Earnings Exceed Expectations, Sales Miss [Yahoo! Finance]Yahoo! Finance
- Sonic Automotive Announces Retirement of Rachel Richards and Promotion of Dino Bernacchi to Chief Marketing OfficerBusiness Wire
SAH
Earnings
- 4/25/24 - Miss
SAH
Sec Filings
- 5/1/24 - Form 4
- 4/29/24 - Form 144
- 4/26/24 - Form 4
- SAH's page on the SEC website