Sonic Automotive, Inc. (SAH) posted third-quarter 2024 adjusted earnings per share of $1.26, which lagged the Zacks Consensus Estimate of $1.42 and contracted 37.6% from the year-ago quarter's figure. Total revenues amounted to $3.49 billion, missing the Zacks Consensus Estimate of $3.54 billion and declining from the yearago quarter's figure of $3.64 billion. SAH stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Stay up-to-date ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |---------------------------------------------------------- ...

Core Viewpoint - Sonic Automotive reported a revenue of $3.49 billion for Q3 2024, marking a year-over-year decline of 4.2% and an EPS of $1.26, down from $2.02 a year ago, indicating challenges in financial performance [1] Financial Performance - Revenue of $3.49 billion was below the Zacks Consensus Estimate of $3.54 billion, resulting in a surprise of -1.48% [1] - EPS of $1.26 was also below the consensus estimate of $1.42, leading to an EPS surprise of -11.27% [1] Segment Performance - Franchised Dealerships Segment: Used vehicle unit sales were 24,934, below the average estimate of 26,449 [1] - Powersports Segment: Retail new vehicle sales were 1,266, slightly below the average estimate of 1,274 [1] - EchoPark Segment: Used vehicle unit sales were 17,757, slightly above the average estimate of 17,653 [1] - Franchised Dealerships Segment: Used vehicle unit sales were 24,940, below the average estimate of 26,573 [1] Revenue Breakdown - New vehicles revenue was $1.59 billion, slightly above the average estimate of $1.56 billion [1] - Finance, insurance, and other net revenues were $175.60 million, slightly below the average estimate of $176.24 million [1] - Parts, service, and collision repair revenues were $479 million, above the average estimate of $475.06 million [1] - Wholesale vehicle revenues were $67.20 million, below the average estimate of $75.59 million [1] - Used vehicle revenues were $1.18 billion, below the average estimate of $1.21 billion [1] - Total vehicle revenues were $2.84 billion, matching the average estimate [1] - Retail new vehicle revenues were $1.57 billion, slightly above the average estimate of $1.49 billion, representing a -0.4% change year over year [1] - Fleet new vehicle revenues were $22.20 million, above the average estimate of $18.88 million, representing a -4.3% change year over year [1] Stock Performance - Shares of Sonic Automotive have returned -2.8% over the past month, underperforming the Zacks S&P 500 composite's +1.5% change [2] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance in the near term [2]

Sonic Automotive (SAH) came out with quarterly earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.42 per share. This compares to earnings of $2.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -11.27%. A quarter ago, it was expected that this auto dealer would post earnings of $1.39 per share when it actually produced earnings of $1.47, delivering a surprise of 5.76%.Over the last four quarters, the comp ...

Exhibit 99.1 Sonic Automotive Reports Third Quarter 2024 Financial Results EchoPark Reports All-Time Record Quarterly Gross Profit, Segment Income, and Adjusted EBITDA* CHARLOTTE, N.C. – October 24, 2024 – Sonic Automotive, Inc. ("Sonic Automotive," "Sonic," the "Company," "we" "us" or "our") (NYSE:SAH), one of the nation's largest automotive retailers, today reported financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Financial Summary • Total revenues of $3.5 billion, down ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Sonic Automotive (SAH) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Octobe ...

A month has gone by since the last earnings report for Sonic Automotive (SAH) . Shares have added about 4.7% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Sonic Automotive due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Sonic's Q2 Earnings Beat Estimate Sonic r ...

Shares of Sonic Automotive, Inc. (SAH) have gained 7% since the company reported second-quarter 2024 results. Adjusted earnings per share of $1.47 beat the Zacks Consensus Estimate of $1.39 but fell 19.7% from the year-ago quarter's figure. Total revenues amounted to $3.45 billion, missing the Zacks Consensus Estimate of $3.55 billion and declining from the year-ago quarter's figure of $3.65 billion. Quarter in Detail On a consolidated basis, revenues from sales of new vehicles, used vehicles and wholesale ...

The market expects Sonic Automotive (SAH) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they ...

Financial Data and Key Metrics Changes - Total revenues for the first quarter of 2024 were reported at $3.4 billion, a decrease of 3% year-over-year [13] - GAAP EPS for the first quarter was $1.20 per share, while adjusted EPS was $1.36 per share, reflecting a 2% increase year-over-year [13][14] - Same-store new vehicle gross profit per unit declined to $3,716, with expectations of continuing decline throughout 2024 [15][71] Business Line Data and Key Metrics Changes - The EchoPark segment achieved a record quarterly adjusted EBITDA of $7.3 million, returning to positive EBITDA for the first time [19] - EchoPark revenues were $559 million, down 14% from the prior year, but gross profit increased by 34% [21] - Franchise dealerships reported a same-store used retail gross profit per unit of $1,585, down 3% year-over-year [8] Market Data and Key Metrics Changes - In the used vehicle market, wholesale auction prices for three-year-old vehicles increased by 2%, while retail used pricing at franchise dealerships declined by 5% sequentially [7] - The average day supply for fully electric vehicles was 70 days, while hybrid vehicles averaged 26 days [4] Company Strategy and Development Direction - The company is focused on adapting to changing market dynamics while positioning for long-term strategic goals [2] - Management emphasized the importance of strong relationships with partners and customers as keys to success [2] - The company plans to add 300 technicians in 2024 to enhance Fixed Operations, expecting an additional $100 million in annualized gross profit [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the EchoPark segment's future potential, citing strategic adjustments made over the past few quarters [27] - The company anticipates a gradual improvement in used vehicle market conditions, with expectations for a strong performance in 2024 [51] - Management noted that the demand for hybrid vehicles is increasing, indicating a shift in consumer preferences [53] Other Important Information - The company ended the first quarter with $847 million in available liquidity, including $335 million in cash and floor plan deposits [29] - A quarterly cash dividend of $0.30 per share was approved, payable on July 15, 2024 [36] Q&A Session Summary Question: What is the cadence for hiring the 300 technicians and other opportunities to optimize Fixed Ops? - Management reported hiring 35 to 40 technicians so far and emphasized the potential for growth in Fixed Operations with the addition of these technicians [41][44] Question: How is the company managing the inventory constraints in the used vehicle market? - Management indicated that there is sufficient inventory available from various sources, including rental car companies, to support EchoPark's operations [46][48] Question: What is the expected EBITDA cadence for EchoPark throughout the year? - Management expects Q1 to be the strongest quarter, with Q2 seeing a slight decline, followed by a strong Q3 and a return to Q2 levels in Q4 [60][61] Question: What is driving the divergence in used car market performance compared to peers? - Management highlighted their strong inventory management skills and the availability of vehicles, expecting to grow their used car business throughout the year [79][83]