Recap: Sonic Automotive Q2 Earnings

Shares of Sonic Automotive SAH gained 4.6% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 3.23% year over year to $0.64, which beat the estimate of $0.32.

Revenue of $2,112,000,000 decreased by 19.20% year over year, which missed the estimate of $2,160,000,000.

Outlook

Sonic Automotive hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Jul 30, 2020

Time: 11:00 AM

ET Webcast URL: https://ir.sonicautomotive.com/news-events/ir-calendar/detail/7162/q2-2020-earnings-conference-call

Price Action

52-week high: $43.30

52-week low: $9.00

Price action over last quarter: Up 100.51%

Company Profile

Sonic Automotive is the fourth- largest public auto dealership group in the United States by new-vehicle sales. The company has 86 franchised stores in 12 states, primarily in metropolitan areas, plus nine EchoPark used-vehicle stores. In addition to new- and used-vehicle sales, the company derives revenue from parts and collision repair, finance, insurance, and wholesale auctions. Luxury and import dealerships make up about 90% of new-vehicle revenue, while Honda, BMW, Mercedes, and Toyota constitute over 60% of new-vehicle revenue. 2019's revenue was $10.5 billion, with EchoPark's portion totaling $1.2 billion.

Posted In: EarningsNews

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