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Sonic Automotive (SAH) Q1 Earnings Top, Revenues Lag Estimates
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Sonic Automotive, Inc. (SAH - Free Report) registered adjusted earnings per share of 39 cents in first-quarter 2019, beating the Zacks Consensus Estimate of 22 cents. However, the bottom line was lower than the first-quarter 2018 figure of 26 cents per share.
Total revenues in the reported quarter were $2.39 billion, up from the prior-year quarter figure of $2.40 billion. However, revenues missed the Zacks Consensus Estimate of $2.41 billion.
During the reported quarter, revenues from the sale of total new vehicles decreased 9.7% year over year to $1.06 billion. Revenues from the sale of total used vehicles rose 15.7% to $820.4 million. Wholesale vehicle revenues declined 16.3% to $54.8 million.
Revenues from parts, services and collision repair decreased 2.9% to $341.4 million while finance, insurance and other revenues rose 13.4% to $106.2 million.
In first-quarter 2019, gross profit increased to $359 million from $352.5 million recorded a year ago. Selling, general and administrative expenses decreased to $247 million from $304.9 million in the year-ago quarter. The company reported operating income of $87.3 million compared with $20.2 million in the year-ago quarter.
In first-quarter 2019, EchoPark stores retailed 11,051 units, up 100.3% on a year-over-year basis.
Sonic Automotive, Inc. Price, Consensus and EPS Surprise
The board of directors of Sonic Automotive announced a quarterly dividend of 10 cents per share. The dividend will be paid on Jul 15, 2019, to shareholders of record as of Jun 14.
Zacks Rank & Stocks to Consider
Currently, Sonic Automotive has a Zacks Rank #3 (Hold).
Geely Automobile has an expected long-term growth rate of 7%. Share price of the company has increased 25.6% in the past three months.
PACCAR has an expected long-term growth rate of 8.4%. Over the past three months, shares of the company have gained 9.6%.
Fox Factory has an expected long-term growth rate of 5%. Shares of the company have gained 31.7% in the past three months.
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Sonic Automotive (SAH) Q1 Earnings Top, Revenues Lag Estimates
Sonic Automotive, Inc. (SAH - Free Report) registered adjusted earnings per share of 39 cents in first-quarter 2019, beating the Zacks Consensus Estimate of 22 cents. However, the bottom line was lower than the first-quarter 2018 figure of 26 cents per share.
Total revenues in the reported quarter were $2.39 billion, up from the prior-year quarter figure of $2.40 billion. However, revenues missed the Zacks Consensus Estimate of $2.41 billion.
During the reported quarter, revenues from the sale of total new vehicles decreased 9.7% year over year to $1.06 billion. Revenues from the sale of total used vehicles rose 15.7% to $820.4 million. Wholesale vehicle revenues declined 16.3% to $54.8 million.
Revenues from parts, services and collision repair decreased 2.9% to $341.4 million while finance, insurance and other revenues rose 13.4% to $106.2 million.
In first-quarter 2019, gross profit increased to $359 million from $352.5 million recorded a year ago. Selling, general and administrative expenses decreased to $247 million from $304.9 million in the year-ago quarter. The company reported operating income of $87.3 million compared with $20.2 million in the year-ago quarter.
In first-quarter 2019, EchoPark stores retailed 11,051 units, up 100.3% on a year-over-year basis.
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 a quarterly dividend of 10 cents per share. The dividend will be paid on Jul 15, 2019, to shareholders of record as of Jun 14.
Zacks Rank & Stocks to Consider
Currently, Sonic Automotive has a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader auto sector are Geely Automobile Holdings Ltd. (GELYY - Free Report) , PACCAR Inc. (PCAR - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) . While Geely currently sports a Zacks Rank #1 (Strong Buy), PACCAR and Fox Factory currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Geely Automobile has an expected long-term growth rate of 7%. Share price of the company has increased 25.6% in the past three months.
PACCAR has an expected long-term growth rate of 8.4%. Over the past three months, shares of the company have gained 9.6%.
Fox Factory has an expected long-term growth rate of 5%. Shares of the company have gained 31.7% in the past three months.
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 >>