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Sonic Automotive (SAH) Q2 Earnings Beat Estimates, Down Y/Y
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Sonic Automotive, Inc. (SAH - Free Report) registered adjusted earnings per share of 35 cents in second-quarter 2018, beating the Zacks Consensus Estimate of 34 cents. The bottom line was 40 cents per share in second-quarter 2017.
Total revenues in the reported quarter were $2.5 billion, up from the prior year-quarter figure by 4.2%. Revenues were almost in line with the Zacks Consensus Estimate.
During the reported quarter, revenues from the total new-vehicle sales decreased 2.8% year over year to $1.24 billion. Revenues from used vehicles rose 18.8% to $762.6 million. Wholesale vehicle revenues rose 31.8% to $53.7 million. Revenues from parts, services and collision repair decreased 4% to $346.8 million while finance, insurance and other revenues grew 19.8% to $104.1 million.
In second-quarter 2018, gross profit increased to $362.4 million from $360.6 million recorded a year ago. Selling, general and administrative expenses decreased to $277.5 million from $293.9 million in the year-ago quarter. The company reported operating income of $50.6 million compared with $42.2 million in the year-ago quarter.
In second-quarter 2018, EchoPark stores retailed 7,459 units, up 35.2% sequentially.
Sonic Automotive, Inc. Price, Consensus and EPS Surprise
The board of directors at Sonic Automotive announced a quarterly dividend of 6 cents per share. The dividend will be paid on Oct 15, 2018, to shareholders of record as of Sep 15, 2018.
Zacks Rank & Stocks to Consider
Currently, Sonic Automotive has a Zacks Rank #3 (Hold).
Oshkosh has an expected long-term growth rate of 18.3%. Over the past year, shares of the company have moved up 7.3%.
AB Volvo has an expected long-term growth rate of 15%. Over the past year, shares of the company have gained 2.4%.
Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 27.9% over the past year.
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.
Image: Bigstock
Sonic Automotive (SAH) Q2 Earnings Beat Estimates, Down Y/Y
Sonic Automotive, Inc. (SAH - Free Report) registered adjusted earnings per share of 35 cents in second-quarter 2018, beating the Zacks Consensus Estimate of 34 cents. The bottom line was 40 cents per share in second-quarter 2017.
Total revenues in the reported quarter were $2.5 billion, up from the prior year-quarter figure by 4.2%. Revenues were almost in line with the Zacks Consensus Estimate.
During the reported quarter, revenues from the total new-vehicle sales decreased 2.8% year over year to $1.24 billion. Revenues from used vehicles rose 18.8% to $762.6 million. Wholesale vehicle revenues rose 31.8% to $53.7 million. Revenues from parts, services and collision repair decreased 4% to $346.8 million while finance, insurance and other revenues grew 19.8% to $104.1 million.
In second-quarter 2018, gross profit increased to $362.4 million from $360.6 million recorded a year ago. Selling, general and administrative expenses decreased to $277.5 million from $293.9 million in the year-ago quarter. The company reported operating income of $50.6 million compared with $42.2 million in the year-ago quarter.
In second-quarter 2018, EchoPark stores retailed 7,459 units, up 35.2% sequentially.
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 at Sonic Automotive announced a quarterly dividend of 6 cents per share. The dividend will be paid on Oct 15, 2018, to shareholders of record as of Sep 15, 2018.
Zacks Rank & Stocks to Consider
Currently, Sonic Automotive has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) , AB Volvo (VLVLY - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oshkosh has an expected long-term growth rate of 18.3%. Over the past year, shares of the company have moved up 7.3%.
AB Volvo has an expected long-term growth rate of 15%. Over the past year, shares of the company have gained 2.4%.
Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 27.9% over the past year.
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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