secwatch.observer — SEC 8-K summary
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Issuer:     SONIC AUTOMOTIVE INC (SAH)
CIK:        0001043509
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001043509-23-000018
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043509/000104350923000018/0001043509-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043509/000104350923000018/sah-20231026.htm
  HTML page:      https://secwatch.observer/filing/0001043509-23-000018

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