Recap: Sonic Automotive Q2 Earnings

Shares of Sonic Automotive SAH remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share rose 310.94% year over year to $2.63, which beat the estimate of $1.25.

Revenue of $3,352,000,000 higher by 58.71% year over year, which beat the estimate of $2,890,000,000.

Guidance

Sonic Automotive hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Jul 29, 2021

Time: 11:00 AM

ET Webcast URL: https://www.directeventreg.com/der/toRegistration.action

Recent Stock Performance

Company's 52-week high was at $56.07

Company's 52-week low was at $34.05

Price action over last quarter: Up 2.07%

Company Overview

Sonic Automotive is by our estimate the sixth- largest public auto dealership group in the United States by new-vehicle unit sales. The company has 84 franchised stores in 12 states, primarily in metropolitan areas in California, Texas, and the Southeast, plus 16 EchoPark used-vehicle stores. In addition to new- and used-vehicle sales, the company derives revenue from parts and collision repair, finance, insurance, and wholesale auctions. Luxury and import dealerships make up about 88% of new-vehicle revenue, while Honda, BMW, Mercedes, and Toyota constitute about 60% of new-vehicle revenue. BMW is the largest brand at over 24%. 2020's revenue was $9.8 billion, with EchoPark's portion totaling $1.4 billion.