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Sonic (SAH) reports mixed first-quarter results. While earnings beat estimates and rise year over year, revenues miss expectations and fall year over year.
The better-than-expected operating profitability of Sonic Automotive's pre-owned vehicle business (EchoPark) was the main factor contributing to the company's +4.8% Q1 earnings beat. SAH has decreased its total shares outstanding by a fifth in the last four years with its active share buybacks. Sonic Automotive is awarded a Buy rating considering EchoPark's growth prospects and SAH's potential shareholder capital return.
The headline numbers for Sonic Automotive (SAH) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Sonic Automotive (SAH) came out with quarterly earnings of $1.36 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.33 per share a year ago.
CHARLOTTE, N.C.--(BUSINESS WIRE)--Sonic Automotive Schedules Release of 2024 First Quarter Financial Results.
While Sonic (SAH) sees a slight uptick in revenues from the Franchised Dealership segment, revenues from EchoPark and Powersports units decline 6% and 5%, respectively.
The headline numbers for Sonic Automotive (SAH) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Sonic Automotive (SAH) came out with quarterly earnings of $1.63 per share, missing the Zacks Consensus Estimate of $1.80 per share. This compares to earnings of $2.61 per share a year ago.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Sonic Automotive (SAH), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended December 2023.
Sonic Automotive's revenue has been growing, but its profitability and cash flows have declined. The company's EchoPark segment, focused on used vehicle sales, has been a major source of losses. Despite the challenges, Sonic Automotive's stock is attractively priced and management is working to improve profitability.