Sonic Automotive, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 06:45 am EDT
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Sonic Automotive, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 3,643.5 million compared to USD 3,448.1 million a year ago. Net income was USD 68.4 million compared to USD 87.3 million a year ago. Basic earnings per share from continuing operations was USD 1.96 compared to USD 2.28 a year ago. Diluted earnings per share from continuing operations was USD 1.92 compared to USD 2.23 a year ago.
For the nine months, revenue was USD 10,787.6 million compared to USD 10,410.5 million a year ago. Net income was USD 139.5 million compared to USD 279.4 million a year ago. Basic earnings per share from continuing operations was USD 3.94 compared to USD 7.09 a year ago. Diluted earnings per share from continuing operations was USD 3.85 compared to USD 6.9 a year ago.
Sonic Automotive, Inc. is an automotive retailer in the United States. The Company operates through three segments. The Franchised Dealerships segment provides comprehensive sales and services, including sales of both new and used cars and light trucks; sales of replacement parts and performance of vehicle maintenance, manufacturer warranty repairs, and paint and collision repair services, collectively, Fixed Operations; and arrangement of third-party financing, extended warranties, service contracts, insurance, and other aftermarket products, collectively, finance and insurance (F&I) for its guests. The EchoPark segment sells used cars and light trucks and arranges third-party F&I product sales for its guests in pre-owned vehicle specialty retail locations. The Powersports segment offers guests sales of both new and used powersports vehicles, such as motorcycles, personal watercraft, and all-terrain vehicles; Fixed Operations activities; and F&I services.
SONIC AUTOMOTIVE, INC. 
