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Sonic Automotive (SAH) Q4 Earnings Beat, Revenues Miss
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Sonic Automotive, Inc. (SAH - Free Report) registered adjusted earnings per share of 76 cents in fourth-quarter 2018, beating the Zacks Consensus Estimate of 75 cents. However, the bottom line was lower than the fourth-quarter 2017 figure of 84 cents per share.
Total revenues in the reported quarter were $2.57 billion, down from the prior-year quarter figure of $2.67 billion. Further, revenues missed the Zacks Consensus Estimate of $2.69 billion.
During the reported quarter, revenues from the sale of total new vehicles decreased 11.2% year over year to $1.32 billion. Revenues from used vehicles rose 10.2% to $755.9 million. Wholesale vehicle revenues rose 22% to $49.9 million.
Revenues from parts, services and collision repair decreased 4.5% to $339.3 million while finance, insurance and other revenues rose 9.4% to $109.6 million.
In fourth-quarter 2018, gross profit decreased to $370.7 million from $384.1 million recorded a year ago. Selling, general and administrative expenses decreased to $273.9 million from $277.6 million in the year-ago quarter. The company reported operating income of $58.7 million compared with $77.2 million in the year-ago quarter.
In fourth-quarter 2018, EchoPark stores retailed 8,762 units, up 94.9% on a year-over-year basis.
2018 Results
For 2018, adjusted earnings per share were $1.79, down from the 2017 figure of $1.85.
Revenues were $9.95 billion in 2018, up from the 2017 figure of $9.87 billion.
Sonic Automotive, Inc. Price, Consensus and EPS Surprise
The board of directors of Sonic Automotive announced 67% rise in the quarterly dividend to 10 cents per share. The dividend will be paid on Apr 15, 2019, to shareholders of record as of Mar 15, 2019.
Zacks Rank & Stocks to Consider
Currently, Sonic Automotive has a Zacks Rank #3 (Hold).
Garrett Motion has an expected long-term growth rate of 25.5%. Over the past three months, shares of the company have risen 39%.
Oshkosh has an expected long-term growth rate of 11.3%. Over the past three months, shares of the company have surged 19.9%.
General Motors has an expected long-term growth rate of 8.5%. Over the past three months, shares of the company have risen 12.4%.
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Sonic Automotive (SAH) Q4 Earnings Beat, Revenues Miss
Sonic Automotive, Inc. (SAH - Free Report) registered adjusted earnings per share of 76 cents in fourth-quarter 2018, beating the Zacks Consensus Estimate of 75 cents. However, the bottom line was lower than the fourth-quarter 2017 figure of 84 cents per share.
Total revenues in the reported quarter were $2.57 billion, down from the prior-year quarter figure of $2.67 billion. Further, revenues missed the Zacks Consensus Estimate of $2.69 billion.
During the reported quarter, revenues from the sale of total new vehicles decreased 11.2% year over year to $1.32 billion. Revenues from used vehicles rose 10.2% to $755.9 million. Wholesale vehicle revenues rose 22% to $49.9 million.
Revenues from parts, services and collision repair decreased 4.5% to $339.3 million while finance, insurance and other revenues rose 9.4% to $109.6 million.
In fourth-quarter 2018, gross profit decreased to $370.7 million from $384.1 million recorded a year ago. Selling, general and administrative expenses decreased to $273.9 million from $277.6 million in the year-ago quarter. The company reported operating income of $58.7 million compared with $77.2 million in the year-ago quarter.
In fourth-quarter 2018, EchoPark stores retailed 8,762 units, up 94.9% on a year-over-year basis.
2018 Results
For 2018, adjusted earnings per share were $1.79, down from the 2017 figure of $1.85.
Revenues were $9.95 billion in 2018, up from the 2017 figure of $9.87 billion.
Sonic Automotive, Inc. Price, Consensus and EPS Surprise
Sonic Automotive, Inc. Price, Consensus and EPS Surprise | Sonic Automotive, Inc. Quote
Dividend & Share Repurchase
The board of directors of Sonic Automotive announced 67% rise in the quarterly dividend to 10 cents per share. The dividend will be paid on Apr 15, 2019, to shareholders of record as of Mar 15, 2019.
Zacks Rank & Stocks to Consider
Currently, Sonic Automotive has a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Garrett Motion Inc. (GTX - Free Report) , Oshkosh Corp. (OSK - Free Report) and General Motors Company (GM - Free Report) . While Garrett Motion and Oshkosh currently sport a Zacks Rank #1 (Strong Buy), General Motors carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Garrett Motion has an expected long-term growth rate of 25.5%. Over the past three months, shares of the company have risen 39%.
Oshkosh has an expected long-term growth rate of 11.3%. Over the past three months, shares of the company have surged 19.9%.
General Motors has an expected long-term growth rate of 8.5%. Over the past three months, shares of the company have risen 12.4%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>