Sonic Automotive Reports Third Quarter 2024 Financial Results
Sonic Automotive, Inc. (SAH)
Last sonic automotive, inc. earnings: 4/29 07:00 am
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US:NYSE Investor Relations:
sonicautomotive.com/investor-relations.htm
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Source: Business Wire
EchoPark Reports All-Time Record Quarterly Gross Profit, Segment Income, and Adjusted EBITDA* CHARLOTTE, N.C.--(BUSINESS WIRE)--Sonic Automotive, Inc. (“Sonic Automotive,” “Sonic,” the “Company,” “we” “us” or “our”) (NYSE:SAH), one of the nation’s largest automotive retailers, today reported financial results for the third quarter ended September 30, 2024.Third Quarter 2024 Financial SummaryTotal revenues of $3.5 billion, down 4% year-over-year; total gross profit of $543.6 million, down 7% year-over-yearReported net income of $74.2 million, up 8% year-over-year ($2.13 earnings per diluted share, up 11% year-over-year)Reported net income includes the pre-tax effects of $1.8 million in excess compensation expense paid to our teammates related to the CDK outage and a $1.5 million charge related to storm damage, offset partially by a $2.3 million gain related to sale of real estate at previously closed EchoPark Segment stores, net of a $0.2 million income tax benefit on the above net
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