The market expects Sonic Automotive (SAH) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 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, which is expected to be released on February 12, 2025, might help the stock move higher if these key numb ...

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 ...

Sales Performance - The U.S. retail automotive industry's total new vehicle seasonally adjusted annual rate of unit sales volume increased 1% to approximately 15.6 million vehicles for the three and nine months ended September 30, 2024, compared to 15.5 million vehicles for the same periods in 2023[98]. - Same store retail new vehicle revenue was flat, with a 2% increase in retail new vehicle unit sales volume during the three and nine months ended September 30, 2024[103]. - Retail new vehicle unit sales increased by 1% to 28,657 units in Q3 2024 from 28,260 units in Q3 2023[122]. - Total combined retail new and used vehicle unit sales decreased by 2% to 72,131 units for the three months ended September 30, 2024, compared to 73,688 units in the prior year[142]. - Total combined retail new and used vehicle unit sales for the nine months ended September 30, 2024, were 212,865 units, down 2% from 216,602 units in the prior year[142]. Revenue Trends - Retail new vehicle revenue for Q3 2024 was $1,566.8 million, a decrease of 6.7% from $1,573.5 million in Q3 2023[122]. - Total new vehicle revenue for Q3 2024 was $1,589.0 million, down 7.7% from $1,596.7 million in Q3 2023[122]. - Retail used vehicle revenue for Q3 2024 was $1,180.7 million, down 12% from $1,340.4 million in Q3 2023[127]. - Total retail used vehicle revenue for the nine months ended September 30, 2024, was $2,162.8 million, a decrease of $160.0 million, or 7%[167]. - Total revenue for the three months ended September 30, 2024, was $1,329.6 million, an increase of $53.3 million, or 4%, compared to the same period in 2023[188]. Profitability Metrics - Retail new vehicle gross profit decreased 33% and 31% during the three and nine months ended September 30, 2024, primarily due to increased price competition and higher inventory costs[103]. - Retail new vehicle gross profit for Q3 2024 was $87.6 million, a decline of 43.8% compared to $131.4 million in Q3 2023[122]. - Retail used vehicle gross profit per unit decreased by $280, or 17%, to $1,386 for Q3 2024[168]. - Total new vehicle gross profit as a percentage of revenue for Q3 2024 was 5.6%, down from 8.3% in Q3 2023[122]. - Total gross profit for Fixed Operations for the nine months ended September 30, 2024, was $670.4 million, a 5% increase from $640.1 million in the prior year[184]. Inventory and Cost Management - The company aims to maintain EchoPark Segment used vehicle inventory days' supply in the 30- to 40-day range to limit exposure to market pricing volatility[110]. - Fixed Operations revenue decreased 7% and 5% during the three and nine months ended September 30, 2024, with gross profit decreasing 10% and 8% in the same periods, primarily due to lower repair order volume[113]. - The company faced challenges due to higher inventory acquisition costs and increased price competition, impacting overall sales performance[173]. Financing and Insurance (F&I) Performance - F&I revenue decreased 3% and 2% during the three and nine months ended September 30, 2024, affected by lower gross profit per finance contract[105]. - Reported F&I revenue for the three months ended September 30, 2024, was $175.6 million, a 1% increase from $173.7 million in the same period of 2023[142]. - F&I revenue for the same market increased by 25% to $51.4 million from $41.0 million year-over-year[208]. Segment Performance - Reported total revenues for the EchoPark Segment decreased 13% and 14% during the three and nine months ended September 30, 2024, driven by a 7% decrease in retail used vehicle unit sales volume[106]. - EchoPark Segment revenues for the three months ended September 30, 2024, were $544.9 million, down 13% from $626.7 million in the same period of 2023[275]. - Powersports Segment revenues increased by 4% to $59.4 million for the three months ended September 30, 2024, compared to $57.0 million in 2023[275]. Operational Expenses - Consolidated SG&A expenses for the three months ended September 30, 2024, totaled $392.1 million, a decrease of 4% compared to $409.6 million for the same period in 2023[282]. - Total SG&A expenses as a percentage of gross profit increased to 72.7% for the three months ended September 30, 2024, compared to 71.2% for the same period in 2023, reflecting a 150 basis points increase[282]. - Rent expenses decreased significantly by 24% to $8.9 million for the three months ended September 30, 2024, compared to $11.7 million in 2023[282]. Warranty and Customer Pay Revenue - Warranty revenue in Fixed Operations increased by 24% to $76.6 million in Q3 2024, compared to $62.0 million in Q3 2023[136]. - Customer pay revenue for the nine months ended September 30, 2024, increased by 3% to $627.6 million from $610.6 million in the same period last year[185]. - Warranty revenue increased approximately $1.5 million, or 115%, and warranty gross profit increased approximately $1.5 million, or 214%[262].

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 ...