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Sonic Automotive (SAH) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2023, Sonic Automotive (SAH - Free Report) reported revenue of $3.64 billion, up 5.7% over the same period last year. EPS came in at $2.02, compared to $2.23 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.57 billion, representing a surprise of +2.00%. The company delivered an EPS surprise of +12.22%, with the consensus EPS estimate being $1.80.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Sonic Automotive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total used vehicle units: 25,541 versus the two-analyst average estimate of 34,972.
Gross Profit Per Unit - Total New Vehicle: $4,678 versus $4,485.90 estimated by two analysts on average.
Total new vehicle units: 27,338 compared to the 26,383 average estimate based on two analysts.
Revenues- Finance, insurance and other, net: $173.70 million compared to the $162.68 million average estimate based on four analysts. The reported number represents a change of +4.9% year over year.
Revenues- Wholesale vehicles: $79.30 million versus $76.45 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -30.9% change.
Revenues- Parts, service and collision repair: $453.40 million versus the four-analyst average estimate of $431.33 million. The reported number represents a year-over-year change of +12%.
Revenues- New vehicles: $1.60 billion versus $1.63 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +13.6% change.
Revenues- Total vehicles: $3.02 billion versus the three-analyst average estimate of $2.90 billion. The reported number represents a year-over-year change of +4.8%.
Revenues- Used vehicles: $1.34 billion compared to the $1.22 billion average estimate based on three analysts. The reported number represents a change of -1.3% year over year.
Franchised Dealerships- Same Store Revenue- Used Vehicles: $775.40 million compared to the $908.05 million average estimate based on two analysts. The reported number represents a change of +5.3% year over year.
Revenues- New vehicles - Fleet: $23.20 million compared to the $25.50 million average estimate based on two analysts.
Revenues- New vehicles - Retail: $1.57 billion versus the two-analyst average estimate of $1.57 billion.
Shares of Sonic Automotive have returned -12% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Sonic Automotive (SAH) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Sonic Automotive (SAH - Free Report) reported revenue of $3.64 billion, up 5.7% over the same period last year. EPS came in at $2.02, compared to $2.23 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.57 billion, representing a surprise of +2.00%. The company delivered an EPS surprise of +12.22%, with the consensus EPS estimate being $1.80.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Sonic Automotive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total used vehicle units: 25,541 versus the two-analyst average estimate of 34,972.
- Gross Profit Per Unit - Total New Vehicle: $4,678 versus $4,485.90 estimated by two analysts on average.
- Total new vehicle units: 27,338 compared to the 26,383 average estimate based on two analysts.
- Revenues- Finance, insurance and other, net: $173.70 million compared to the $162.68 million average estimate based on four analysts. The reported number represents a change of +4.9% year over year.
- Revenues- Wholesale vehicles: $79.30 million versus $76.45 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -30.9% change.
- Revenues- Parts, service and collision repair: $453.40 million versus the four-analyst average estimate of $431.33 million. The reported number represents a year-over-year change of +12%.
- Revenues- New vehicles: $1.60 billion versus $1.63 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +13.6% change.
- Revenues- Total vehicles: $3.02 billion versus the three-analyst average estimate of $2.90 billion. The reported number represents a year-over-year change of +4.8%.
- Revenues- Used vehicles: $1.34 billion compared to the $1.22 billion average estimate based on three analysts. The reported number represents a change of -1.3% year over year.
- Franchised Dealerships- Same Store Revenue- Used Vehicles: $775.40 million compared to the $908.05 million average estimate based on two analysts. The reported number represents a change of +5.3% year over year.
- Revenues- New vehicles - Fleet: $23.20 million compared to the $25.50 million average estimate based on two analysts.
- Revenues- New vehicles - Retail: $1.57 billion versus the two-analyst average estimate of $1.57 billion.
View all Key Company Metrics for Sonic Automotive here>>>Shares of Sonic Automotive have returned -12% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.