Sonic Automotive Q3 Profit Rises - Quick Facts

(RTTNews) - Sonic Automotive Inc. (SAH) reported that its net income from continuing operations for the third quarter of 2019 rose to $29.2 million, or $0.66 per share from $15.3 million, or $0.36 per share in the the third quarter of 2018.

Results reported for the third quarter of 2018 include pre-tax charges totaling $3.1 million related to storm damage, executive transition costs and charges related to the disposal of franchises.

Total revenues for the quarter grew to $2.70 billion from $2.47 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.55 per share and revenues of $2.58 billion. Analysts' estimates typically exclude special items.

Sonic's Board of Directors approved a quarterly cash dividend of $0.10 per share payable on January 15, 2020 to all stockholders of record on December 13, 2019.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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