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Sonic Automotive (SAH) Q1 Earnings Drive Past Estimates

Zacks Equity Research
Updated

Sonic Automotive, Inc. SAH registered adjusted earnings per share of 26 cents in first-quarter 2018 compared with 23 cents in the year-ago quarter. Also, earnings surpassed the Zacks Consensus Estimate of 25 cents.

Total revenues in the reported quarter increased 4.9% to $2.41 billion. The figure also beat the Zacks Consensus Estimate of $2.4 billion.

During the quarter, revenues from total new-vehicle sales increased 0.8% year over year to $1.18 billion. Revenues from used vehicles rose 11.8% to $709 million in the quarter under review. Wholesale vehicle revenues rose 41.2% to $65.4 million. Revenues from parts, services and collision repair increased 2.7% to $142.4 million while finance, insurance and other revenues grew 12.8% to $93.7 million.

Sonic Automotive, Inc. Price, Consensus and EPS Surprise

Sonic Automotive, Inc. Price, Consensus and EPS Surprise | Sonic Automotive, Inc. Quote

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In first-quarter 2018, gross profit increased to $352.5 million from $350.3 million, recorded a year ago. Selling, general and administrative expenses increased to $305 million from $292.2 million in the year-ago quarter. The company reported operating income of $20.2 million compared with $36.3 million in the year-ago quarter.

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 Jul 13, 2018, to shareholders of record as of Jun 15, 2018.

During the reported quarter, the company repurchased roughly 1.2 million of common shares for approximately $23.4 million.

Zacks Rank & Stocks to Consider

Sonic Automotive carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the auto space are BMW AG BAMXF, Dana Incorporated DAN and Allison Transmission Holdings, Inc. ALSN, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

BMW has expected long-term growth rate of 4.5%. Over a year, shares of the company have gained 14.7%.

Dana has expected long-term growth rate of 10%. Shares of the company have risen 28.6% in the past year.

Allison Transmission has expected long-term growth rate of 10%. Over a year, shares of the company have gained 0.8%.

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Sonic Automotive, Inc. (SAH) : Free Stock Analysis Report
 
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Dana Incorporated (DAN) : Free Stock Analysis Report
 
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