SAH Stock Recent News

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.

Sonic Automotive (SAH) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Sonic Automotive is expected to achieve a higher EBIT for Q4 as compared to Q3, taking into account SAH's inventory status and the company's expectations of EchoPark's future profitability. SAH appears to be more willing to engage in acquisitions and buybacks going forward based on my interpretation of its management comments. My rating for SAH is upgraded to a Buy, following a consideration of Sonic Automotive's fourth quarter EBIT performance and the company's current capital allocation stance.

Sonic Automotive, Inc. (NYSE:SAH ) Q3 2023 Earnings Conference Call October 26, 2023 11:00 AM ET Company Participants David Smith - Chairman & Chief Executive Officer Jeff Dyke - President Heath Byrd - Chief Financial Officer Tim Keen - Chief Operating Officer, EchoPark Conference Call Participants Joe Enderlin - Stephens Inc. Rajat Gupta - JPMorgan John Murphy - Bank of America Michael Ward - The Benchmark Company Patrick Buckley - Jefferies Operator Good morning and welcome to the Sonic Automotive Third Quarter 2023 Earnings Conference Call. This conference call is being recorded today, Thursday, October 26, 2023.