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Sonic Automotive's (SAH) Q4 Earnings, Revenues Beat, Up Y/Y
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Sonic Automotive, Inc.SAH registered adjusted earnings per share of 84 cents in fourth-quarter 2017 compared with 66 cents in the year-ago quarter. Also, earnings surpassed the Zacks Consensus Estimate of 79 cents. Notably, during the quarter and full-year 2017, the company reported all-time record revenue and gross profit figures.
Total revenues in the reported quarter increased 4.3% to $2.67 billion. The figure also beat the Zacks Consensus Estimate of $2.61 billion.
During the quarter, revenues from total new vehicles increased 5.5% year over year to $1.49 billion. Revenues from used vehicles rose 5.3% to $686 million in the quarter. Wholesale vehicle revenues dropped 29.4% to $40.9 million. Revenues from parts, service and collision repair increased 1.3% to $355.1 million, and finance, insurance and other revenues grew 13.4 % to $100.2 million.
During the quarter, gross profit increased to $384.1 million in the reported quarter from $371.7 million a year ago. Selling, general and administrative expenses increased to $277.6 million from $267.1 million in the year-ago quarter. The company reported operating income of $77.2 million compared with $82.6 million in the year-ago quarter.
For 2017, the company reported adjusted earnings of $1.85 per share, lower than the 2016 figure of $2.01. In 2017, revenues were $9.87 billion, higher than the 2016 figure of $9.73 billion.
Dividend Update
The board of directors at Sonic Automotive announced a quarterly dividend of 6 cents per share, up 20% on a sequential basis. The dividend will be paid on Apr 13, 2018 to shareholders on record as of Mar 15, 2018.
Business Update
During the quarter, the company’s EchoPark business grew nearly 167% or more than 2,800 units.
The company expects the EchoPark brand to sell in the range of 25,000 cars in 2018. This is more than double the sale in 2017.
2017 Outlook
Sonic Automotive expects 2018 earnings per share from continuing operations to be in the band of $2.21-$2.45.
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Sonic Automotive's (SAH) Q4 Earnings, Revenues Beat, Up Y/Y
Sonic Automotive, Inc. SAH registered adjusted earnings per share of 84 cents in fourth-quarter 2017 compared with 66 cents in the year-ago quarter. Also, earnings surpassed the Zacks Consensus Estimate of 79 cents. Notably, during the quarter and full-year 2017, the company reported all-time record revenue and gross profit figures.
Total revenues in the reported quarter increased 4.3% to $2.67 billion. The figure also beat the Zacks Consensus Estimate of $2.61 billion.
During the quarter, revenues from total new vehicles increased 5.5% year over year to $1.49 billion. Revenues from used vehicles rose 5.3% to $686 million in the quarter. Wholesale vehicle revenues dropped 29.4% to $40.9 million. Revenues from parts, service and collision repair increased 1.3% to $355.1 million, and finance, insurance and other revenues grew 13.4 % to $100.2 million.
During the quarter, gross profit increased to $384.1 million in the reported quarter from $371.7 million a year ago. Selling, general and administrative expenses increased to $277.6 million from $267.1 million in the year-ago quarter. The company reported operating income of $77.2 million compared with $82.6 million in the year-ago quarter.
For 2017, the company reported adjusted earnings of $1.85 per share, lower than the 2016 figure of $2.01. In 2017, revenues were $9.87 billion, higher than the 2016 figure of $9.73 billion.
Dividend Update
The board of directors at Sonic Automotive announced a quarterly dividend of 6 cents per share, up 20% on a sequential basis. The dividend will be paid on Apr 13, 2018 to shareholders on record as of Mar 15, 2018.
Business Update
During the quarter, the company’s EchoPark business grew nearly 167% or more than 2,800 units.
The company expects the EchoPark brand to sell in the range of 25,000 cars in 2018. This is more than double the sale in 2017.
2017 Outlook
Sonic Automotive expects 2018 earnings per share from continuing operations to be in the band of $2.21-$2.45.
Sonic Automotive carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the auto space are General Motors Company (GM - Free Report) , Volkswagen AG and AB Volvo (VLVLY - Free Report) . Each of these stocks carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
General Motors has an expected long-term growth rate of 8.4%. In the past six months, shares of the company have gained 13.1%.
Volkswagen has an expected long-term growth rate of 18.7%. The shares of the company have risen 28.8% in the past six months.
AB Volvo has an expected long-term growth rate of 15%. In the past six months, shares of the company have rallied 11.6%.
Sonic Automotive, Inc. Price, Consensus and EPS Surprise
Sonic Automotive, Inc. Price, Consensus and EPS Surprise | Sonic Automotive, Inc. Quote
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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