LONDON, UK / ACCESSWIRE / January 17, 2018 / Active-Investors.com has just released a free earnings report on Sonic Corp. (NASDAQ: SONC). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SONC. The Company posted its financial results on January 04, 2018, for the first quarter fiscal 2018. The chain of drive-in restaurants Company's adjusted EPS surpassed analysts' expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Sonic most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For three months ended November 30, 2017, Sonic's total revenues decreased 18.6% to $105.43 million from $129.55 million in Q1 FY17. For the reported quarter, the Company's system wide same-store sales growth was negative 1.7%. The Company's total revenue was below analysts' expectations of $106.6 million.

For the reported quarter, the Company's drive-in sales decreased 28.2% to $62.54 million from $87.15 million in Q1 FY17. For the reported quarter, the Company's franchise drive-in sales increased 2.3% to $42.46 million from $41.52 million in Q1 FY17. The growth was due to increased royalties from refranchising effort.

For the reported quarter, the Company's operating income decreased 17% to $22.45 million from $27.05 million in Q1 FY17. For the reported quarter, the Company's operating margin increased 40 basis points to 21.3% of revenue from 20.9% of revenue in Q1 FY17. For the reported quarter, the Company's adjusted operating income decreased 4.6% to $23.09 million from $24.21 million in Q1 FY17. For the reported quarter, the Company's adjusted operating margin increased 320 basis points to 21.9% of revenue from 18.7% of revenue in Q1 FY17.

During Q1 FY18, Sonic's earnings before tax (EBT) decreased 25.5% to $15.16 million from $20.36 million in the same period last year. For the reported quarter, the Company's EBT margin decreased 130 basis points to 14.4% of revenue from 15.7% of revenue in Q1 FY17.

For the reported quarter, Sonic's net income decreased 12.9% to $11.43 million from $13.12 million in Q1 FY17. During Q1 FY18, the Company's diluted earnings per share (EPS) increased 3.6% to $0.29 on a y-o-y basis from $0.28 in the same period last year. For the reported quarter, Sonic's adjusted net income increased 4.8% to $11.83 million on a y-o-y basis from $11.29 million in Q1 FY17. During Q1 FY18, the Company's adjusted diluted EPS increased 25% to $0.30 on a y-o-y basis from $0.24 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.25.

Balance Sheet

As on November 30, 2017, Sonic's cash and cash equivalents increased 5.3% to $23.53 million from $22.34 million on August 31, 2017. For the reported quarter, the Company's net long-term debt increased 6.1% to $666.60 million from $628.12 million in Q4 FY17.

For the reported quarter, Sonic's obligations under capital leases due after one year decreased 3.7% to $15.57 million from $16.17 million in Q4 FY17.

During Q1 FY18, the Company repurchased 1.7 million shares for $41 million.

On January 13, 2018, the Company's Board of Directors declared a quarterly cash dividend of $0.16 per share of common stock to be paid on February 16, 2018, to shareholders of record as of the close of business on February 07, 2018.

Outlook

For FY18, the Company expects system wide same store sales growth to be in the range of 0%-2%.

Stock Performance Snapshot

January 16, 2018 - At Tuesday's closing bell, Sonic's stock declined 1.40%, ending the trading session at $25.97.

Volume traded for the day: 873.76 thousand shares.

Stock performance in the previous three-month period ? up 6.52%; and past six-month period ? up 0.50%

After yesterday's close, Sonic's market cap was at $997.51 million.

Price to Earnings (P/E) ratio was at 17.80.

The stock has a dividend yield of 2.46%.

The stock is part of the Services sector, categorized under the Restaurants industry.

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