Sonic Automotive Q2 Profit Rises, Results Beat Estimates - Quick Facts

(RTTNews) - Automotive retailer Sonic Automotive Inc. (SAH) on Thursday reported an increase in profit for the second quarter from last year on higher revenues. Both revenue and adjusted earnings per share for the quarter beat analysts' expectations.

The company's net income for the second quarter rose to $26.60 million or $0.61 per share from $16.91 million or $0.39 per share in the year-ago period.

Excluding items, adjusted earnings from continuing operations for the quarter were $0.62 per share, compared to $0.35 per share in the prior-year quarter.

Total revenues for the quarter grew to $2.61 billion from $2.51 billion a year ago.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.47 per share for the quarter on revenues of $2.52 billion. Analysts' estimates typically exclude special items.

Sonic's board of directors approved a quarterly dividend of $0.10 per share payable in cash for our stockholders of record on September 13, 2019. The dividend will be payable on October 15, 2019.