Sonic Automotive Q3 revenue record $3.6B; net income down 22% YoY to $68.4M

SONIC AUTOMOTIVE INC

2023-Q3 EPS reported $3.85 revenue$10,787,600,000

Record Q3 revenue $3.6B (+6% YoY); gross profit $582.2M flat; net income $68.4M (-22%); diluted EPS $1.92 (-14%).
Adjusted net income $72M (-18%); adjusted diluted EPS $2.02 (-9%).
EchoPark segment revenues $626.7M (+6%); record gross profit $52.8M (+22%); used units up 25% to 19,050.
Board approved 3.4% dividend increase to $0.30/share, payable Jan 12, 2024 to holders of record Dec 15, 2023.
Repurchased 1.7M shares in Q3 for $86.7M; YTD 3.3M shares (9% of shares outstanding at Dec 31, 2022).

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SONIC AUTOMOTIVE INC reported third quarter ended September 30, 2023 results: revenue $3.6 billion, net income $68.4 million, EPS $1.92 earnings per diluted share. Guidance reaffirmed.

Period: third quarter ended September 30, 2023
Revenue: $3.6 billion
Net income: $68.4 million
EPS: $1.92 earnings per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

automotive retailers, today reported financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Summary • Record third quarter revenues of $3.6 billion, up 6% year-over-year; gross profit of $582.2 million, flat year-over-year • Reported third quarter net income of $68.4 million, down 22% year-over-year ($1.92 earnings per

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Source: SEC EDGAR

accession 0001043509-23-000018

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