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Sonic Automotive (SAH) Q3 Earnings Beat, Revenues Miss
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Sonic Automotive, Inc. (SAH - Free Report) registered adjusted earnings per share of 43 cents in third-quarter 2018, beating the Zacks Consensus Estimate of 40 cents. The bottom line was 40 cents per share in third-quarter 2017.
Total revenues in the reported quarter were $2.47 billion, down from the prior-year quarter figure of $2.51 billion. Further, revenues missed the Zacks Consensus Estimate of $2.59 billion.
During the reported quarter, revenues from the total new-vehicle sales decreased 9.3% year over year to $1.24 billion. Revenues from used vehicles rose 13.1% to $746 million. Wholesale vehicle revenues rose 12.7% to $48.6 million. Revenues from parts, services and collision repair decreased 1.3% to $343.1 million while finance, insurance, and other revenues rose 5.6% to $98.1 million.
In third-quarter 2018, gross profit decreased to $360.5 million from $362.6 million recorded a year ago. Selling, general and administrative expenses increased to $289 million from $284 million in the year-ago quarter. The company reported operating income of $48.1 million compared with $55.8 million in the year-ago quarter.
In third-quarter 2018, EchoPark stores retailed 7,698 units, up considerably on a year-over-year basis.
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 Dec 14, 2018, to shareholders of record as of Jan 15, 2019.
Zacks Rank & Other Stocks to Consider
Currently, Sonic Automotive has a Zacks Rank #2 (Buy).
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 12.8%.
Advance Auto Parts has an expected long-term growth rate of 12.3%. Over the past six months, shares of the company have risen 40.3%.
AutoZone has an expected long-term growth rate of 12.2%. Over the past two years, shares of the company have risen 17.8%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Sonic Automotive (SAH) Q3 Earnings Beat, Revenues Miss
Sonic Automotive, Inc. (SAH - Free Report) registered adjusted earnings per share of 43 cents in third-quarter 2018, beating the Zacks Consensus Estimate of 40 cents. The bottom line was 40 cents per share in third-quarter 2017.
Total revenues in the reported quarter were $2.47 billion, down from the prior-year quarter figure of $2.51 billion. Further, revenues missed the Zacks Consensus Estimate of $2.59 billion.
During the reported quarter, revenues from the total new-vehicle sales decreased 9.3% year over year to $1.24 billion. Revenues from used vehicles rose 13.1% to $746 million. Wholesale vehicle revenues rose 12.7% to $48.6 million. Revenues from parts, services and collision repair decreased 1.3% to $343.1 million while finance, insurance, and other revenues rose 5.6% to $98.1 million.
In third-quarter 2018, gross profit decreased to $360.5 million from $362.6 million recorded a year ago. Selling, general and administrative expenses increased to $289 million from $284 million in the year-ago quarter. The company reported operating income of $48.1 million compared with $55.8 million in the year-ago quarter.
In third-quarter 2018, EchoPark stores retailed 7,698 units, up considerably 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 at Sonic Automotive announced a quarterly dividend of 6 cents per share. The dividend will be paid on Dec 14, 2018, to shareholders of record as of Jan 15, 2019.
Zacks Rank & Other Stocks to Consider
Currently, Sonic Automotive has a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Advance Auto Parts, Inc. (AAP - Free Report) and AutoZone, Inc. (AZO - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 12.8%.
Advance Auto Parts has an expected long-term growth rate of 12.3%. Over the past six months, shares of the company have risen 40.3%.
AutoZone has an expected long-term growth rate of 12.2%. Over the past two years, shares of the company have risen 17.8%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>