Financial Performance - Fourth quarter total revenues reached an all-time record of $3.9 billion, up 9% year-over-year; total gross profit was $574.0 million, up 6% year-over-year[2] - Reported net income for the fourth quarter was $58.6 million, a 51% increase year-over-year, translating to $1.67 earnings per diluted share, up 50% year-over-year[2] - Full year total revenues were $14.2 billion, down 1% year-over-year; gross profit was $2.2 billion, down 2% year-over-year[4] - Reported full year net income was $216.0 million, up 21% year-over-year, with $6.18 earnings per diluted share, up 24% year-over-year[4] - Total revenues for the twelve months ended December 2024 were $14,224.3 million, down 1% from $14,372.4 million in 2023[25] - Gross profit for the twelve months ended December 2024 was $2,192.8 million, down 2% from $2,245.7 million in 2023[25] - Net income for the twelve months ended December 2024 was $216.0 million, up 21% from $178.2 million in 2023[25] - Basic earnings per share for the twelve months ended December 2024 was $6.34, up 25% from $5.09 in 2023[25] - Reported net income for the three months ended December 31, 2024, was $35.2 million, with diluted earnings per share of $1.67, compared to $34.8 million and $1.11 for the same period in 2023[43] - Adjusted net income for the twelve months ended December 31, 2024, was $195.8 million, with diluted earnings per share of $5.60, compared to $244.0 million and $6.81 for the same period in 2023[43] Segment Performance - EchoPark Segment adjusted EBITDA for the fourth quarter was $4.2 million, a 146% increase year-over-year, compared to a $9.1 million adjusted EBITDA loss in the prior year[2] - Same store revenues in the Franchised Dealerships Segment were up 12%, with same store retail new vehicle unit sales volume up 13%[9] - EchoPark Segment retail used vehicle unit sales volume was 16,674 units, down 5% year-over-year[2] - Retail new vehicle revenues increased by 15% to $1,914.8 million for the three months ended December 31, 2024, compared to $1,664.1 million in 2023[26] - Total revenues for the Franchised Dealerships Segment rose by 12% to $3,359.0 million in Q4 2024, up from $3,001.1 million in Q4 2023[26] - Retail new vehicle unit sales volume increased by 13% to 32,250 units in Q4 2024, compared to 28,491 units in Q4 2023[26] - Used vehicle revenues showed a slight increase of 4% to $757.0 million in Q4 2024, compared to $727.5 million in Q4 2023[26] - Total gross profit for the Franchised Dealerships Segment increased by 5% to $517.4 million in Q4 2024, compared to $491.3 million in Q4 2023[26] - Total gross profit for the EchoPark segment increased by 14% to $49.0 million for the three months ended December 31, 2024, compared to $42.8 million in 2023[28] - Total gross profit for the Powersports segment increased to $7.5 million in Q4 2024, a 7% increase from $7.0 million in Q4 2023[38] Expenses and Profitability - SG&A expenses for Q4 2024 totaled $399.6 million, a 3% increase from $386.3 million in Q4 2023, with total adjusted SG&A expenses rising by 6% to $408.6 million[32] - Total SG&A expenses for the Franchised Dealerships Segment increased to $348.5 million in Q4 2024, up from $329.1 million in Q4 2023, representing a 6% increase[34] - Total SG&A expenses for the EchoPark Segment decreased to $42.6 million in Q4 2024, down from $48.0 million in Q4 2023, marking an 11% reduction[36] - Total adjusted SG&A expenses for the EchoPark Segment were $165.5 million for the twelve months ended December 31, 2024, a 30% decrease from $237.3 million in 2023[37] - Total gross profit margin as a percentage of gross profit improved to 69.6% in Q4 2024 from 71.4% in Q4 2023, reflecting a 180 basis points improvement[32] Future Outlook and Strategic Moves - Sonic acquired the remaining 50% equity in a joint venture in North Point Volvo and additional dealerships, expected to add approximately $145.0 million in annualized revenues[5] - The company anticipates future growth in each of its operating segments, subject to various risks and uncertainties[21] - The used-to-new vehicle sales ratio improved to 0.55 in Q4 2024 from 0.30 in Q4 2023, indicating a shift in sales strategy[31] Awards and Recognition - EchoPark Automotive received the 2023 Consumer Satisfaction Award from DealerRater, highlighting its customer-centric approach[20] Adjustments and Other Financial Metrics - Total pre-tax adjustments for the twelve months ended December 31, 2024, amounted to $14.6 million, compared to $79.9 million for the same period in 2023[43] - The company incurred storm damage charges of $3.2 million for the three months ended December 31, 2024, and $8.3 million for the twelve months ended December 31, 2024[44] - Cyber insurance proceeds of $10.0 million were recorded for the three months ended December 31, 2024[44] - The company reported a provision for income taxes of $23.5 million for the three months ended December 31, 2024, compared to $16.0 million for the same period in 2023[44]

Core Viewpoint - Analysts project that Sonic Automotive (SAH) will report quarterly earnings of $1.46 per share, reflecting a year-over-year decline of 10.4%, with revenues expected to reach $3.61 billion, an increase of 0.8% from the same quarter last year [1]. Earnings Projections - The consensus EPS estimate has been revised downward by 2.4% over the past 30 days, indicating a collective reassessment by analysts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and are linked to short-term stock price performance [3]. Revenue Estimates - Total vehicle revenues are projected at $2.97 billion, showing a year-over-year decline of 0.4% [5]. - Powersports revenues are estimated at $28.36 million, indicating a year-over-year increase of 4.3% [5]. - New vehicles - Fleet revenues are expected to be $18.38 million, reflecting a significant decline of 15.7% year over year [5]. - New vehicles - Retail revenues are projected at $1.74 billion, suggesting a year-over-year increase of 3.3% [6]. - Same Store Revenue for New Vehicles at Franchised Dealerships is also estimated at $1.74 billion, with a year-over-year change of 3.5% [6]. - Used Vehicles Same Store Revenue is expected to reach $714.96 million, indicating a decline of 1.3% from the previous year [6]. - EchoPark revenues are anticipated to be $497.10 million, reflecting a year-over-year increase of 3.2% [7]. Gross Profit Estimates - Gross Profit Per Unit for Used Vehicles is expected to be $1,414.70, down from $1,440 in the same quarter last year [7]. - Gross Profit from Parts, Service, and Collision Repair is projected to reach $231.81 million, compared to $215.40 million a year ago [8]. - Gross Profit from EchoPark is estimated at $50.47 million, up from $38.90 million in the same quarter last year [8]. - Gross Profit from Powersports is expected to be $6.49 million, down from $7 million year-over-year [9]. - Gross Profit from New Vehicles - Retail is projected at $93.39 million, a decrease from $124.50 million in the previous year [9]. Stock Performance - Sonic Automotive shares have increased by 14.2% over the past month, outperforming the Zacks S&P 500 composite, which rose by 4.2% [10]. - The company holds a Zacks Rank of 3 (Hold), indicating it is expected to closely follow overall market performance in the near term [10].

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 ...