secwatch.observer — SEC 8-K summary
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Issuer:     SONIC AUTOMOTIVE INC (SAH)
CIK:        0001043509
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001043509-23-000009
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sonic Automotive Q1 revenue record $3.5B, net income down 51% YoY; dividend raised 3.6%
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- Record Q1 revenue of $3.5B, up 1% YoY; gross profit $553.5M, down 3%.
- Net income $47.7M, down 51% YoY; diluted EPS $1.29, down 45%.
- EchoPark segment record revenues $650.5M (+5% YoY); retail used units 19,980 (+34% YoY).
- Repurchased 1.6M shares (~5% of shares outstanding) for $90.7M at avg $55.16/share.
- Quarterly dividend increased 3.6% to $0.29/share; payable July 14, record June 15.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043509/000104350923000009/0001043509-23-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043509/000104350923000009/sah-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001043509-23-000009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer